Fluent Essays

Please see attached. Chapter 20: Understanding the Impact of Data Analytics and Big Data What are data analytics? What are healthcare analytics? What is big data? How is big data different? How is data volume measured? (See Figure 20-1 on next slide.) What is big data in the healthcare industry? Defining Data Analytics Defining Data Analytics The Retrospective Analytics approach The Predictive Analytics approach (See Figure 20-2 on next slide.) Prospective Analytics: a subset of Predictive Analytics Two Basic Approaches to Data Analytics (1 of 2) Two Basic Approaches to Data Analytics (2 of 2) Figure 20-1 Two Basic Approaches to Data Analytics. Using predictive analytics to answer a patient population question Using predictive analytics in the Human Resources department Using a combination of retrospective and prospective data analytics Using a sophisticated analytics approach to combat prescription drug fraud Data Analytics and Healthcare Analytics Serve Many Purposes Data Mining What is data mining? A hospital’s clinical research is an example of data mining Another example is a hospital’s patient safety research How is data mining used? Developing a protocol through data mining Associating clinical data with cost data Impacts of Healthcare Analytics Impacts include: Corporate acquisition The Big Data revolution Collaborative efforts Conclusion Challenges for Healthcare Analytics HSA-5175 Health Care Finance Capital Structure Strategies in Health Care Financial System Objective: For this assignment, you will create a Capital Structure Strategies for a Community Health Center that you will be able to choose (Any Health Care Facility). The Capital Structure Strategies refers to the way a corporation finances its assets through some combination of equity, debt, or hybrid securities. A firms capital structure is the composition or structure of its liabilities. For example, a firm that sells 20 billion dollars in equity and 80 billion dollars in debt is said to be 20\% equity-financed and 80\% debt-financed. The firms ratio of debt to total financing, 80\% in this example, is referred to as the firms leverage. In reality, capital structure may be highly complex and include dozens of sources. Gearing Ratio is the proportion of the capital employed by the firm which comes from outside of the business, such as by taking a short term loan. You are encouraged to choose (Any Health Care Facility: Hospital, Doctor Office, Emergency Care Center, etc.). ASSIGNMENT GUIDELINES (2 points /10\%): Students will create a Capital Structure Strategies for the Institution of your choosing. There is an advantage to financing with debt (the tax benefits of debt) and that there is a cost of financing with debt (the bankruptcy costs and the financial distress costs of debt). The marginal benefit of further increases in debt declines as debt increases, while the marginal cost increases, so that a firm that is optimizing its overall value will focus on this trade-off when choosing how much debt and equity to use for financing. Empirically, this theory may explain differences in Debt/Equity ratios between industries, but it doesnt explain differences within the same industry. You need to read the article (in the additional weekly reading resources localize in the Syllabus and also in the Lectures link) assigned for this week and develop an 8-10-page paper reflecting your understanding and ability to apply the readings to your Health Care Setting. Each paper must be typewritten with 12-point font and double-spaced with standard margins. Follow APA style 7th edition format when referring to the selected articles and include a reference page. EACH PAPER SHOULD INCLUDE THE FOLLOWING: 1. Introduction (5 points / 25\%) Offer an abstract that provide a brief outlook of the protocol and explaining in your own words what is meant by a Capital Structure Strategies in Health Care Financial System 2. Your Capital Structure Strategies in Health Care Financial System (10 points 50\%) a. Presentation Page: PROJECT NAME ORGANIZATION NAME BUSINESS ADDRESS CITY, ST, ZIP TELEPHONE NUMBER FACSIMILE NUMBER WEBSITE ADDRESS EMAIL ADDRESS: b. Capital Structure Theory: Definition, Explanation and uses. c. The Capital Structures Strategy of leading integrated health care system. 3. Conclusion (3 points / 15\%) Briefly recapitulate your thoughts & conclusion to you Capital Structure Strategies. How did this plan impact your thoughts on Health Care Administrator and Health Care Finance? Evaluation will be based on how clearly you respond to the above, in particular: a) The clarity with which you associate, relates, stablish and apply your knowledge to generate the Capital Structure Strategies. b) The Complexity, depth, scope, Profundity and organization of your paper; and, c) Your conclusions, including a description of the impact of the Capital Structure Strategies on any Health Care Setting. Chapter 19: Estimates, Benchmarking, and Other Measurement Tools Definition of Estimate According to the dictionary, estimate “implies a judgment, considered or casual, that precedes or takes the place of actual measuring or counting or testing out” (Merriam Webster’s Collegiate Dictionary, 10th ed., s.v. “Estimate”). Estimates Such estimates may be of: Amount Value Size Estimates The first question should be: “Is it capable of being estimated?” If so, using an estimate often involves a trade-off, such as gaining a quick answer that is less accurate. So relying on estimates for input to reports means sacrificing some degree of accuracy. Estimates Four common uses of estimates are typically due to: Timeliness considerations Cost/benefit considerations Lack of data Internal monthly statements Estimating the Ending Pharmacy Inventory Certain healthcare organizations (or departments such as pharmacy) require accounting for inventory. Internal monthly statement usually use ending inventory estimates. The following slide (Figure 19-1) illustrates steps in the ending inventory computation. Figure 19-1 Estimating the Ending Pharmacy Inventory. The Scope of Estimates Estimates can be extremely general, or they can reflect considerable judgment and well-thought-out detail. An example of a general estimate and its subsequent impact due to unrecognized indirect costs is illustrated in the next slide. (Refer to the chapter, along with Figure 19-2, for full details about this example.) Figure 19-2 Estimated Economic Impact of a New Specialist in a Physician Practice. Other Estimates Other commonly used computations are actually estimates. For example, the weighted average inventory cost described in Chapter 9 is in fact an estimate. Performance Measures A variety of performance measures must be in place for the organization. Many types of such measures are available. Generally different organizations lean toward using one type over another. Performance Measures Adjusted performance measures over time. We have previously discussed the advantages of comparative analysis—the comparison of various time periods, one to another. Measures that compare performance over various time periods are especially effective. Figure 19-3 illustrates measures over time combined with a two-part case mix adjustment. Financial Benchmarking Benchmarking is the continuous process of measuring products, services, and activities against the best levels of performance. The best levels may be found inside the organization or outside it. Benchmarking (1 of 3) There are three types of benchmarks: A financial variable reported in an accounting system A financial variable not reported in an accounting system A nonfinancial variable Benchmarks are used to measure performance gaps. Benchmarking (2 of 3) How do you benchmark? Three possible methods include: Studying the methods and results of your prime competitors; Examining the process of noncompetitors with a world-class reputation; or Analyzing processes within your own organization that are worthwhile to replicate. Benchmarking (3 of 3) Financial benchmarking compares financial measure among benchmarking groups. It is the most common type of peer group method used in health care. Statistical benchmarking is another related method. (See Table 19-1 for an example of financial benchmarking.) Measurement Tools Pareto analysis is a measurement tool based on the Pareto Principle. The Pareto Principle is often called the “80/20 Rule.” For example, “80\% of an organization’s problems are caused by 20\% of the possible causes.” Measurement Tools Pareto Analysis is an analytical tool that helps managers improve some steps in a process. The analysis quantifies these steps through construction of a Pareto diagram. Figure 19-4 and accompanying text explain how to construct and interpret a Pareto diagram. Figure 19-4 Pareto Analysis of Billing Department Data. Measurement Tools Reporting by quartiles is an effective way to show ranges of either financial or statistical results. Quartiles are based on a quantitative method of computation and can effectively illustrate a variety of performance measures. Chapter text plus Table 19-1 illustrate how to compute and construct a report using quartiles. Performance Measures Remember: Several types of performance measures will be in use in the organization. Familiarity with the use of such measures lets the manager do a better job analyzing performance.