Creekside Community Hospital Data Utilize the following information:
For this assignment, you will need to refer to the following set of financial data: Creekside Community Hospital Data Utilize the following information: Hospital Characteristics (see attached financials) o Competitive environment, declining market share to competitors o Moderate to substantial debt o Facility and equipment that is fairly current, but will have future investments in capital o Partial electronic medical record system o Mediocre quality and patient satisfaction scores o Few employed physicians/ no hospitalist program o Split payor mix between public and private o Overall not profitable from operations in most recent fiscal year Local Physician Practices Characteristics o Small primary care and specialty practices (mixture of solo and small groups) o Independent ownership o Loose affiliation with hospital o Combination of office and hospital practice Ohio University MHA HLTH6210 Week 6 Both Hospital and Physician organizations have contract-only relationships with payors and suppliers and are currently not working with either in any strategic way financially. Your group is hired as a financial consultant to prepare a financial strategy (or strategies) to the hospital as they transition from the current environment to the future environment that will be impacted by health care reform due to governmental intervention, as well as changes from within the industry itself. Specifically, your strategy should consider more than one alternative (outcome). When formulating your response, consider addressing the following topics at a minimum (feel free to add other financial topics as well). This Consultant’s Report should include about one page for each topic: 1. Based upon the following financials attached, assess the current liquidity, profitability, and capital structure and what your recommendations would be for improving these for the future. Give 3-4 concrete financial recommendations based on this information. (Refer to your Week Two Lesson Two Learning Materials.) 2. Address how a strong operating and capital budget process would assist achieving future financial goals (what tools might you employ?). Explain why accurate cost allocation is important. What would be the priorities for capital budgets (in general, not specifically)? (Refer to your Week Four Learning Materials.) 3. Create an analysis of how reimbursement for services will likely change and how the organizations should prepare for this (e.g., PFB, Value Based Purchasing, etc). (Refer to your Week Six Lesson Two and Week Seven Lesson Two readings; you may need to consult outside resources for this portion, as well.) 4. Address how changes in patient quality and satisfaction could impact future reimbursement and operating performance. Also address ownership structures that both the hospital and physicians’ organizations should consider going forward (maintain independent or consider joint venture, merger, etc) and why. (Refer to your Week Six Lesson Two and Week Seven Lesson Two readings.) 5. Explain what to do to improve market share or competitive strength. 6. Explain how you would advise both the hospital and physicians (separately or jointly) to work with payors and suppliers in this new environment. (Refer to your Week Six Lesson Two and Week Seven Lesson Two readings.) All sources, including course materials, must be cited in text in APA style. If necessary, see the MHA program definition of outside and peer-reviewed sources in MHA Information and Resources. Using the MHA adaptation of APA citation, your reference page will contain only your outside sources.