You will take the information you gathered from Milestone 1 and use it for the top part of Milestone 3 and add in more information for each section. Please note that for the Legislation part- each section builds off of the previous section.
Organizational Impact
Organization Impact
Propose your choice of hospital and rational. Do not use 1st person. Describe in detail the hospitals mission. What is the industry or purpose? For example, St. Jude’s is a non-profit hospital whose mission is to provide care to pediatrics with specific cancers at no further cost to the parents (St. Jude’s, 2021). No direct quotes but summarize and cite the information using the hospitals website.
What are the sub-industries? For example, St. Jude’s also has a huge research center linked to their mission of curing cancer in pediatric patients (St. Jude’s, 2021).
What is the hospital’s financial background? Find 1-2 specific examples of the yearly income and expenses. Is the facility solvent? What do the numbers mean?
Nonprofit or For Profit
Is the organization you selected a nonprofit or a for-profit? What differences will this make in terms of economic policy impact? What is your organization’s tax status? How is your healthcare facility affected by economic legislation based on their tax status?
Demand Theory
Accurately describe how the demand theory is reflected in the hospital’s financial statements. Answer the question: How do you know your facility is in demand? This may take a little bit of reasonable deduction when reviewing the yearly financials of the hospital. For demand, you can look for new services being provided or a new building going up to better serve the community? Has there been an increase in patient services in a particular area? Etc.
You can find this information sometimes in the communication to the community, press releases and Google. For example, “Google Johns Hopkins Bulletins” and many sites show up including the library at JH where all the bulletins are stored. You can search that JH data base.
Market Behavior Impact
Explain how the market behavior of the healthcare industry impacts the financial statements of the organization at various times throughout the year and the rationale for these yearly fluctuations. One area to look at is fundraising and any published pro-bono work. Fundraisers bring money in [income]; whereas, pro-bono cases cause spending of money [expenses]. You can also look at the publications for the community. Again, you can Google your facility and “yearly changes” and see what pops up!
Economic Legislative Changes
Legislative Changes
Considering the economic and legislative changes you researched, what changes are most likely to impact your organization, and why? Utilizing your SWOT legislation explain how that policy has affected your facility. Provide a good example. You cannot use our healthcare system, the ACA/Obama care. The legislation must be economic policy that affects healthcare.
Policy Changes and Impact
Then using the economic policy/legislation above, what was an internal policy that needed to change to be compliant with that law?
Statement Impact
Continuing with the same economic policy, how does the policy affect the financial statements of your organization? Add in an example or two from your organization for your example.
Potential Disparities
Continuing with the same economic policy, what is a specific healthcare disparity that was created? Provide a well-developed recommendation to fix the healthcare disparity using evidence-based research.
****Your report should be in APA format and all resources and references should be cited appropriately. A well-written, concise report will fall within the range of 4–6 pages, not including a title and reference page.
8/10/23, 4:15 PM Assignment Information
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IHP 620 Milestone Three Guidelines and Rubric
Prompt
In Milestone One, you selected an organization to analyze from the U.S. Securities and Exchange Commission’s EDGAR database and received approval and feedback from your instructor on
your proposal. In Milestone Two, you submitted a draft of the policy research report and received feedback. Now, for Milestone Three of your �nal project, you will apply the economic
principles you have examined through the �rst seven weeks of the course to your chosen organization by submitting a draft of the organizational analysis report.
Based on instructor feedback and direction to this milestone, you will revise your organizational analysis report for the �nal submission of the policy research and organizational analysis
report in Module Nine.
Your analysis of your chosen organization must address the following elements:
I. Organizational Impact and Recommendations:
A. Organization Introduction: What organization is the focus of your report, the sub-industry or type of organization it belongs to (home care, hospital, etc.), and what is the �nancial
background of the organization?
B. Nonpro�t or For-Pro�t: Is the organization you selected a nonpro�t or a for-pro�t? What differences will this make in terms of economic policy impact?
II. Financials, Market, and Demand:
A. Demand Theory: Explain how demand theory is re�ected in the organizational �nancial statements.
B. Market Behavior Impact: Explain how and why market behavior affects the �nancial statements at various times throughout the calendar year for your organization.
III. Economic Legislative Changes:
A. Legislative Changes: Considering the economic and legislative changes you researched, what changes are most likely to impact your organization, and why?
B. Policy Changes and Impact: Considering the legislative changes and type of organization you have selected, what possible organizational policies may result? Discuss the possible
resulting policy changes that may occur within the organization. What is, or will be, the impact of these policy and legislative changes on your organization?
C. Statement Impact: In what ways would you expect to see the �nancial statements to be impacted because of these changes, and why?
D. Potential Disparities: Would the legislative changes cause disparities in care that could further impact your organization, or that your organization could plan to combat? How
would you recommend planning for these?
What to Submit
Your report should be in APA format and all resources and references should be cited appropriately. A well-written, concise report will fall within the range of 4–6 pages, not including a title
and reference page.
8/10/23, 4:15 PM Assignment Information
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Milestone Three Rubric
Criteria Exemplary (100%) Pro�cient (90%) Needs Improvement (75%) Not Evident (0%) Value
Organization Introduction Meets “Pro�cient” criteria and
description is concise by
delivering key elements
without super�uous detail
Accurately and in detail
describes the selected
organization, sub-industry, and
�nancial background
Describes the selected
organization, sub-industry, and
�nancial background, but with
gaps in accuracy or detail
Does not describe the selected
organization, sub-industry, or
�nancial background
12
Nonpro�t or For-Pro�t Meets “Pro�cient” criteria and
summary evidences ability to
translate the larger view of
economic impact in healthcare
to the level of a speci�c
organization
Determines whether the
organization is for-pro�t or
nonpro�t and accurately
summarizes the impact this fact
will have in terms of economic
policy
Determines whether the
organization is for-pro�t or
nonpro�t and summarizes the
impact this fact will have in
terms of economic policy, but
with gaps in detail or accuracy
Does not determine whether
the organization is for-pro�t or
nonpro�t and summarize the
impact this fact will have in
terms of economic policy
12
Demand Theory Meets “Pro�cient” criteria and
evidences keen insight into
appropriate application and use
of demand theory for a
particular organization
Accurately describes how
demand theory is re�ected in
the organizational �nancial
statements
Describes how demand theory
is related to the �nancial
statements, but with gaps in
accuracy or detail regarding
how the statements re�ect
demand theory
Does not describe how demand
theory is related to the �nancial
statements
10
Market Behavior Impact Meets “Pro�cient” criteria and
explanation evidences keen
insight into the nuanced
relationship between market
behavior and �nancial impacts
to an organization
Accurately explains how
market behavior impacts the
�nancial statements of the
organization at various times
throughout the year, and
explains why
Explains how and why market
behavior impacts the �nancial
statements of the organization
at various times throughout the
year, but with gaps in detail or
accuracy
Does not explain how and why
market behavior impacts the
�nancial statements of the
organization at various times
throughout the year
12
Legislative Changes Meets “Pro�cient” criteria and
evidences keen insight into how
the current economic
legislation changes will impact
organizations
Accurately determines and
explains the recent economic
legislative changes that would
most likely impact the selected
organization
Determines and explains the
recent economic legislative
changes that would most likely
impact the selected
organization, but with gaps in
accuracy or detail
Does not determine and explain
the recent economic legislative
changes that would most likely
impact the selected
organization
12
8/10/23, 4:15 PM Assignment Information
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Criteria Exemplary (100%) Pro�cient (90%) Needs Improvement (75%) Not Evident (0%) Value
Policy Changes and Impact Meets “Pro�cient” criteria and
evidences keen insight into the
nuanced impact of legislative
changes on healthcare
organizations
Logically determines the impact
the recent legislative changes
will have on the selected
organization and its policies,
with supportive detail
Determines the impact the
recent legislative changes will
have on the organization and its
policies, but with gaps in logic
or supporting detail
Does not determine the impact
the recent legislative changes
will have on the organization
and its policies
12
Statement Impact Meets “Pro�cient” criteria and
evidences keen insight into the
facets and factors that
in�uence �nancial statements
Accurately describes how the
�nancial statements are
impacted based on legislative
and policy changes
Describes how the �nancial
statements are impacted but
lacks accuracy or necessary
detail regarding legislative and
policy changes
Does not describe how the
�nancial statements are
impacted
10
Potential Disparities Meets “Pro�cient” criteria and
evidences keen insight into the
continuously evolving
healthcare environment or the
unpredictable impacts of
legislation on speci�c
organizations and availability of
care
Recommends logical methods
to plan for legislative and
policy-driven disparities in care
to prevent further
organizational impact
Recommends methods to plan
for legislative and policy-driven
disparities in care, but they
would not logically prevent
further organizational impact
Does not recommend methods
to plan for legislative and
policy-driven disparities in care
10
Articulation of Response Submission is free of errors
related to citations, grammar,
spelling, syntax, and
organization and is presented
in a professional and easy-to-
read format
Submission has no major errors
related to citations, grammar,
spelling, syntax, or organization
Submission has major errors
related to citations, grammar,
spelling, syntax, or organization
that negatively impact
readability and articulation of
main ideas
Submission has critical errors
related to citations, grammar,
spelling, syntax, or organization
that prevent understanding of
ideas
10
Total: 100%
,
2
Milestone One
Student's Name
Institutional Affiliation
Course
Date
Based on the data in the sources, the topic of this study is Memorial Health System, a healthcare organization (Memorial Healthcare System, 2023). Well-known healthcare organization Memorial Health System provides various medical services to its neighborhood. When the business's sub-industry is examined, a hospital or healthcare system offering full medical treatment might be identified as the organization. With a significant presence in the healthcare industry, the company will likely face the financial possibilities and risks of doing business in this vital and dynamic area.
According to the material gathered during Module Two's investigation, Memorial Health System is a nonprofit organization. Memorial Health System was identified as a nonprofit hospital for Financial Assistance, according to a report by Romano (2022), which affirmed the facility's nonprofit status. Nonprofit enterprises, like Memorial Health System, often provide services to their local communities and invest any profits into the business to enhance its operations, facilities, and patient care.
Economic concepts like demand and market/consumer behavior can greatly impact Memorial Health System's financial statements as a healthcare provider. For instance, the company could see a rise in sales throughout particular seasons or times of the year. For instance, the rise in injuries and accidents caused by ice and other weather-related mishaps during the winter may result in a jump in income. Additional elements, including demographic changes, population health, and healthcare policy, may also impact the organization's financial accounts. For Memorial Health System to efficiently manage its resources, create budgets, and maintain financial stability, it is essential to comprehend and respond to these economic concepts. As a notable hospital serving its community, Memorial Health System is a nonprofit healthcare institution.
References
Memorial Healthcare System. (2023). Leadership and Board of Commissioners. Memorial Healthcare System. https://www.mhs.net/about/leadership#:~:text=Memorial%20Healthcare%20System%20is%20a,board%20appointed%20by%20the%20Governor.
Romano, L. (2022, July 6). Memorial Health named as a nonprofit hospital for Financial Assistance. NowDecatur.com. https://nowdecatur.com/2022/07/06/memorial-health-named-as-a-nonprofit-hospital-for-financial-assistance/
,
SWOT ANALYSIS 2
Anti-Human Trafficking Law
Title of Legislation: Anti-Human Trafficking Law
Description of Legislation: The Anti-Human Trafficking Law is a recent piece of economic legislation aimed at combating human trafficking and protecting victims (Fouladvand, 2018). This law introduces stringent measures to identify, prevent, and punish those involved in human trafficking activities. It focuses on prosecuting traffickers, supporting and assisting victims, and increasing public awareness.
Impact on Healthcare Policy and Delivery: The Anti-Human Trafficking Law significantly impacts healthcare policy and delivery, especially in healthcare facilities like Memorial Health System (Fouladvand, 2018). Healthcare providers are now required to be more vigilant in recognizing and reporting potential cases of human trafficking. The law may require the hospital to establish protocols and training for staff to identify signs of human trafficking among patients (Fouladvand, 2018). It also mandates providing medical and mental health services to trafficking victims, which could increase the demand for specialized care in facilities like the Memorial Health System.
SWOT Analysis for the Healthcare Industry (Memorial Health System):
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Strengths: High demand for healthcare services: The healthcare industry has a consistent and growing demand for medical services, driven by factors like an aging population and increased access to healthcare. Technological advancements: Healthcare facilities like Memorial Health System can leverage advanced medical technologies to improve patient outcomes and enhance efficiency. Nonprofit status: Being a nonprofit organization, Memorial Health System can reinvest its profits to improve operations and patient care. |
Weaknesses: High operational costs: Healthcare providers often face significant operational costs, including medical equipment, staffing, and compliance with regulatory requirements. Staffing challenges: The healthcare industry may experience shortages of qualified healthcare professionals, leading to increased workloads and potential burnout for existing staff. Vulnerability to policy changes: Healthcare organizations can be affected by changes in healthcare policies, reimbursement rates, and regulations, potentially impacting their financial stability. |
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Opportunities: Telehealth expansion: The increasing acceptance of telehealth services presents an opportunity for Memorial Health System to reach a broader patient base and provide medical care remotely. Collaborations and partnerships: Partnering with other healthcare providers or organizations can lead to shared resources, expanded services, and improved patient care. Healthcare innovation: Investing in research and development can lead to new medical treatments, technologies, and services that give Memorial Health System a competitive edge. |
Threats: Regulatory compliance challenges: Strict healthcare regulations and compliance requirements can pose challenges to Memorial Health System's operations and financial management. Economic downturn: During economic downturns, patients may delay or forgo medical treatments, leading to potential revenue declines for healthcare facilities. Malpractice lawsuits: Healthcare providers, including Memorial Health System, face the constant threat of malpractice lawsuits, which can have severe financial and reputational consequences. |
Definition of Economic Policy Affecting the ACA (Obamacare): Value-Based Care Policy
Description of Policy: Value-Based Care is an economic policy aimed at transitioning healthcare providers from a fee-for-service model to a payment system based on the quality and value of care delivered (Ramian, 2021). This policy aims to incentivize healthcare providers to focus on patient outcomes and cost-effectiveness rather than the volume of services provided. It encourages healthcare organizations to improve care coordination, prevent unnecessary hospitalizations, and achieve better patient outcomes (Ramian, 2021).
References
Fouladvand, S. (2018). Decentering the prosecution-oriented approach: Tackling both supply and demand in the struggle against human trafficking. International journal of law, crime and justice, 52, 129-143.
Ramian, H. (2021). Evaluation of Health Policies and Quality Measures in the Era of Value-Based Care. The Pennsylvania State University.