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NUSP 542 Module 1 Application Assignment

NUSP 542 Module 1 Application Assignment Instructions

Part 1

  1. The short essay questions provided are from the textbook instructor resources. Within your team, discuss the application to the leader role.
  2. For each essay question, identify, cite and reference at least one credible external resources that support your team’s response. Keep your responses concise. Most questions can be addressed in a single paragraph, and no more than one page per question.
  3. References can be from peer reviewed articles, government or education websites, or professional organizations or newsletters such as Becker’s Healthcare. References should be recent, preferably within two years but no more than 5 years old.
  4. Write an introductory paragraph and summary paragraph. Create a short descriptive heading title for each question.
  5. Follow APA formatting (double-spaced). Include a cover page and a reference page.
  6. Remember to label your word document file according to the syllabus instructions (note this is a variation from APA).
  7. Submit assignment through the Blackboard assignment link by the due date in the course syllabus.

Chapter 1. Describe how managers can reduce unnecessary costs, including real-world examples of how it has been done.

Chapter 2. Explain what managers have authority over and how they should be evaluated in cost, expense, revenue, profit, and investment centers. (refer to page 23).

Chapter 23. Describe and provide an example of how predictive analytics has been used to answer a patient population question and implement practice changes.

Chapter 25. Discuss three strategic aspects of a business plan.

Chapter 27 Explain the goal of the National Quality Strategy and give three examples of how patient safety is measured, i.e., the numerator and denominator.

 

 

 

Part 2. Chapter 3. Application of Excel: Analysis with tables and charts

This is an opportunity to apply some of the principles from chapter 3. This is submitted as a team, but each member should be able to perform these basic functions in excel.

Create an excel spreadsheet to complete this assignment. Note that you do not need to upload the excel file with the assignment. Complete the table below and then embed the charts into the word document (DO NOT screenshot). Follow APA 7.0 to correctly label the table and figures.

Place Part 2 responses behind the reference page from part 1.

1: A medical practice is analyzing past financial performance to determine what actions the practice needs to take to increase net income. Using the table below, calculate the profit margin per payer and profit per patient.

Service Patients Revenue Profit Profit Margin Profit per Patient
Commercial 513 $62,000 $6,250    
Managed care 1,798 198,000 12,500    
Medicare 2,054 268,000 5,500    
Medicaid 514 82,000 -8,000    
Self pay/Charity 257 32,000 -7,000    
5,136 $642,000 $9,250    

 

  1. Using the table in problem 1, create a column chart showing the profit margin per payer with the highest margin on the left to the lowest on the right.
  2. After seeing the profit margin per payer, we want to understand how much revenue is generated by each payer. Using the table in problem 1, create a pie chart showing revenue per payer.
  3. Stakeholders want to understand how profit the margin has changed over the last ten years. Using the table below, create a run chart with a trend line, and explain how the profit margin has changed. APA: use a “note” below the run chart to add the explanation.
  4. Use the table below to analyze the relationship between bed size (X) and profit margin in hospitals. Create a scatter or XY chart and explain the relationship. (use “note as above).
X Y
Range Beds Profit Margin
Less than 100 50 1.0%
100-199 150 3.0%
200-299 250 4.5%
300-399 350 4.0%
400-499 450 6.0%
500 and more 550 5.0%

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