September 2023 Business Plan for a Healthcare Organization Source of Revenue An Increase in the Medicare Patient Population Two
2024 Business Plan for a Healthcare Organization Assignment Help
Business Plan for a Healthcare Organization Source of Revenue An Increase in the Medicare Patient Population Two 2023
Business Plan for a Healthcare Organization Source of Revenue: An Increase in the Medicare Patient Population Two Main Tasks: Part 1.) The president of Gentiva Health Services is considering increasing her number of Medicare patients served next year. However, to do so she must begin to use RNs for client visits, which Medicare reimburses at $45 per visit. An RN costs $35 per hour versus the current cost of $15 for an LPN or nurse’s aide. The president believes she can increase her patient visits by 15% by accepting Medicare patients. She is also aware that if she increases her Medicare patients, the company’s administrative costs will increase by approximately $10,000 per year because of the claims file complexity. Using the Gentiva Health Services Statement of Income http://finance.yahoo.com/q/is?s=GTIV , use the following volumes for your calculations: Volume for the year: Flexible budget: 6,000 visits Static budget: 5,945 visits Actual budget: 5,889 visits Prepare a two-page report that addresses the following: How many more visits will the company generate if it accepts Medicare patients? What would be the estimated profit or loss associated with the Medicare service line? Would you recommend that Gentiva Health Services increase its number of Medicare patients served? Explain why or why not? Part 2.) Business Plan Review the quarterly report and develop a business plan for the organization for its upcoming financial year. Be sure to include the following in your organized business plan: Organization segment Marketing segment Financial segment Projected cash flow statement Projected income statement Projected balance sheet Feel free to take liberties with information needed that is not available in the report. You may find the quarterly report at http://finance.yahoo.com/news/gentiva-health-services-reports-third-221500117.html Grading Criteria Based on budget statistics, determine how many more visits the company will generate if it accepts Medicare patients. Determine the estimated profit or loss associated with the Medicare service line. Make and defend recommendations as to whether to increase the number of Medicare patients served. Develop the organization, marketing, and financial segments Develop a projected cash flow statement, income statement, and the balance sheet. Present an organized and well-thought-out business plan. Present a structured document.