Assignment: Final Healthcare Budget Request

Once an idea has matured to the point that there is a clear understanding about the organizational and financial impact, there is typically a need to request resources to bring the idea to reality. This is typically done by submitting a budget request in the hopes of getting the idea on the budget, meaning there is organizational commitment to move forward with the idea by planning to allocate necessary resources. This commitment implies that the expenditure aligns with organizational objectives and the financial position of the organization.

In this assignment, you will analyse financial statements to determine the financial health of an organization. You will use this assessment as part of a final healthcare budget request.

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To Prepare
• Reflect on the previous Healthcare Budget Request assignment submissions, including your executive summary, your Expense/Revenue/ROI Analysis, your estimated budget, and your ratio analysis. (Learning Resource 4 and 4a)
• Review the Sample Financial Statements document in the Resources and reflect on the financial information conveyed by these statements.
• If possible, secure copies of your healthcare organization’s income statement, balance sheet, and statement of cash flows. Consult with your internal financial counselor on this, as needed.

The Assignment
Finalize your Healthcare Budget Request by completing the following:
Part 1: Financial Statement Analysis:
Open your Healthcare Budget Request Workbook (Learning Resource 8 and 8a) that you created in the previous Assignment and navigate to the “A6 Financial Statement Analysis” worksheet.

• Using the Healthcare Budget Request Workbook Step-by-Step Guide for guidance (Learning Resource 5), conduct analyses as directed on either your organization’s financial statements or those provided in the Sample Financial Statements document. Your analysis will include spreadsheet calculation of financial statement ratios. You may use data from your organization, HealthWays Clinic, Income Statement, FY 2018 (Learning Resource 9), or the Good Samaritan Hospital data provided (Learning Resource 6). Previous students have told me the HealthWays Clinic, Income Statement, FY 2018 is the easiest to interpret. It is up to you to decide.

Part 2: Summary of Analyses and Interpretation of Results:
Create a brief (1-2 page) description of your analyses. *Be sure to address the following in your summary:
• Describe the results of each statement analysis. What do the results of each analysis mean?
• What does your complete financial statement analysis suggest about the financial health of the organization?
• If using your current organization’s data, does your analysis help describe any observed organizational behaviors or actions? Explain.
• What assumptions have you made in your analyses?
• What implications do these analyses have for your proposed healthcare product or service?
• *I would use these questions to make headings in my analyses.

Part 3: Summary of Work and Final Healthcare Budget Request

• Compile and summarize your work in previous assignments. You may choose to should use the Healthcare Budget Request Template, located in the Resources, or create a format of your own. Your final Healthcare Budget Request should include:
• A final version of your Executive Summary
• A final version of your projected expenses and revenues
• A product/service budget for the launch and the first 5 years
• A summary of financial and SWOT analyses that you conducted, including your interpretation of the results
• A 3- to 5-slide PowerPoint presentation containing the final version of your elevator speech, incorporating selling points from your analyses that you believe make the business case for nurse entrepreneurship and leadership’s commitment to your proposed healthcare product or service. *Remember, this is a short PPT with your summary followed by your Elevator Speech. Please read your elevator speech out loud and time it not to exceed 60 seconds.

If you are using the Healthways Financials for the Week 10/11 assignment, I made this to show where you should (or might) have some calculations (highlighted in blue). If you placed the calculations differently, that is okay as long as you have all the needed calculations. I added Percentage change and provide directions on how to do this below. This % change is optional, but something I think you should be able to do in the future. The blue text box “Interpretation/Analyses” is provided for some things you should address in your narrative analysis.

Calculate the difference between the years: = 2017 – 2018. To calculate a % see below.
To calculate the percentage decrease:
First: work out the difference (decrease) between the two numbers, you are comparing.
Decrease = Original Number – New Number
Then: divide the decrease by the original number and multiply the answer by 100.
% Decrease = Decrease ÷ Original Number × 100
If your answer is a negative number then this is a percentage increase.

1. You will submit two files (attach both before submitting the assignment).
1. Part 1is an Excel Worksheet showing your data analyses. Place this on:
1. Healthcare Budget Request workbook that you created in the previous Assignment; place it on the “A6 Financial Statement Analysis” worksheet.
2. Place Part 2 and 3 on the Word TEMPLATE that you have been placing your written analyses on for each assignment.
1. *Please note that the heading for the Week 10/11 is Final Healthcare Budget Request
2. You will paste each of the slides you prepare with your summary/elevator speech. While you will not be showing a PPT on an elevator, the idea is to help you visualize and be prepared should you be given a few minutes in a meeting to present the highlights of your project. Slides should be bullet points with the narrative written below each slide like speaker notes.

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