Finance and Management: IHP 450 Final Project Milestone
IHP 450 Final Project Milestone One: Short Paper Guidelines and Rubric Prompt: If you have not already done so, select one of the two organizations below (Venice Family Clinic or Joslin Diabetes Center) on which to base your final project capital budget proposal. This will be “your” organization for the remainder of the course. Before you step into the shoes of a manager within that organization, you need to familiarize yourself with the organization’s finances and mission as well as begin to draw connections between healthcare trends and the organization. This assignment will guide you through the selection of your role and department as well as your preliminary review and analysis of the organization. First, start with your department selection. You must identify a department which is likely to exist within the organization. The department can have a clinical function (e.g., surgery or radiology) or a support function. If you do not have experience working in healthcare, you might want to identify a department with a support function that is similar to one in which you have worked in the past, such as accounting, human resources, facilities, etc. Doing so will give you more insight into the potential needs of the department. Creating your proposal will require close analysis of historical budgetary information for the organization, research regarding healthcare trends, and careful alignment of your proposal to the organization’s mission, vision, and values.
Second, review the financial statements and information provided in the links below regarding the organization. You do not need to do a complete analysis of the financials at this point. The goal of your review at this point in time is to acquaint yourself with the basics of the organization’s finances. How do expenses compare to revenue and assets? How do the materials provided portray the organization’s financial condition? Finally, after you have familiarized yourself with the organization, consider healthcare trends alongside the organization’s mission and current financial condition. What trends are likely to impact the organization? What opportunities and challenges might those trends pose to the organization? How might all these factors impact the organization’s mission moving forward? To complete this assignment, the following items must be addressed:
● Describes a department likely to exist within the organization ● Describes the organization’s financial condition ● Identifies healthcare trends that are likely to impact the organization ● Describes the opportunities and challenges those trends might present to the organization ● Explains potential implications for the organization’s mission
Organization #1: Venice Family Clinic
● 2012 Annual Report (most current Annual Report available) ● Consolidated Financial Statements for the Year Ended June 30, 2017
Organization #2: Joslin Diabetes Center
● Consolidated Financial Statements and Supplemental Information – 2013 and 2012 (most current Consolidated Financial Statement available) ● Consolidated Financial Statements and Supplemental Information – 2012 and 2011
Guidelines for Submission: Your paper must be submitted as a two- to three-page document with double spacing, 12-point Times New Roman font, one-inch margins, using APA for citations.
Critical Elements Proficient (100%) Needs Improvement (75%) Not Evident (0%) Value
Department Describes a department likely to exist within the organization
Does not describe a department likely to exist within the organization
18
Financial Condition Accurately describes the organization’s overall financial condition based on the financial statements
Describes the organization’s overall financial condition but with gaps in accuracy or detail based on the financial statements
Does not describe the overall financial condition of the organization
18
Healthcare Trends Accurately describes current healthcare trends that are likely to impact the organization
Describes current healthcare trends that are likely to impact the organization, but with gaps in detail or accuracy
Does not describe current healthcare trends that are likely to impact the organization
18
Opportunities and Challenges
Accurately identifies opportunities and challenges that healthcare trends might present to the organization
Identifies opportunities and challenges that healthcare trends might present to the organization, but with gaps in detail or accuracy
Does not identify opportunities and challenges that healthcare trends might present to the organization
18
Potential Implications for the Mission
Accurately explains the potential implications of healthcare trends for the organization’s mission
Explains potential implications of healthcare trends for the organization’s mission, but with gaps in detail or accuracy
Does not explain potential implications of healthcare trends for the organization’s mission
18
Writing (Mechanics/Citations)
Minor errors related to organization, grammar and style, and citations
Some errors related to organization, grammar and style, and citations
Major errors related to organization, grammar and style, and citations
10
Earned Total 100%
