course material

1. Discussion: Keeping Costs Under Control
Discussion: Keeping Costs Under ControlDiscussion: Keeping Costs Under ControlCLICK
HERE TO ORDER YOUR ASSIGNMENTRequired ReadingsPenner, S. J. (2017). Economics and
financial management for nurses and nurse leaders (3rd ed.). New York, NY: Springer
Publishing.Chapter 12, “Assessing Financial Health” (pp. 365–395)Centers for Medicare and
Medicaid Services. (2019). Bundled payments for care improvement (BPCI) initiative:
General information. Retrieved from https://innovation.cms.gov/initiatives/Bundled-
Pay…Centers for Medicare and Medicaid Services. (n.d.a). Roadmap for implementing value
driven healthcare in the traditional Medicare Fee-for-Service program. Retrieved
September 25, 2018, from https://www.cms.gov/Medicare/Quality-Initiatives-P…Centers
for Medicare and Medicaid Services. (n.d.b). Roadmap for quality measurement in the
traditional Medicare Fee-for-Service program. Retrieved September 25, 2018,
from https://www.cms.gov/Medicare/Quality-Initiatives-P…Centers for Disease Control
and Prevention, National Center for Health Statistics. (2017). Hospital utilization (in non-
federal short-stay hospitals). Retrieved
from https://www.cdc.gov/nchs/fastats/hospital.htm Rosoff, P. M. (2017). Who should
ration? AMA Journal of Ethics, 19(2), 164–173. doi:
10.1001/journalofethics.2017.19.2.ecas4-1702Document: Week 2 Assignment Template
(Word document)Discussion: Keeping Costs Under ControlKeep costs under control, reduce
spending, and provide quality care: These could be the tenets for any healthcare provider.
Oftentimes, when you discuss finances in a healthcare setting, you might focus on spending
and keeping costs within your budget while putting quality in the backseat to other goals.
Value-driven healthcare and quality measures in healthcare should not be conflicting ideas.
The largest organizations responsible for paying providers for care are Medicare and
Medicaid, and, like many other organizations, they want to spend less while still providing
excellent care. This can be challenging as more and more emphasis is placed on
spending.While these two ideas are not in direct opposition, how decisions about spending
are made based on these two perspectives can be very different. Value-driven healthcare
strives to create a direct relationship of quality to reimbursement, while quality
measurement in healthcare works to improve health through efficiency and utilization of
resources. As a provider of healthcare, these two ideas drive financial decisions such as cost
control and risk in relation to quality of care and quality measures.In this week’s Discussion,
choose one of the two perspectives to discuss. After posting on your perspective, you will
respond to at least two colleagues, one of whom chose a different perspective.To

2. Prepare:Select one of two perspectives to address in this Discussion:Value-driven
healthcareMeasuring care for traditional fee-for-serviceLocate an organization that is
implementing an initiative to address the perspective that you chose.Review the Resources
for this week and consider the relationship between costs, patient outcomes, and care
transitions as it relates to the perspective you chose.Reflect on how the perspective may
impact cost reduction and the challenge for maintaining healthcare quality.BY DAY 4Post a
comprehensive response to the following:Identify the perspective that you chose (either
value-driven healthcare or measuring care for traditional fee-for-service in
healthcare)Identify the organization that you found that is implementing an initiative
relating to the selected perspectiveSummarize the initiative, including all policies and
procedures that stem from itExplain how this initiative will impact cost control and quality
of care within the organizationExplain how risk and uncertainty should be factored into
cost-control decisions in healthcareBY DAY 6Respond to at least two of your colleagues:One
who addressed the same perspectiveOne who addressed a different perspective or expand
upon your colleague’s posting. Suggest additional ways that cost control and quality of care
will be impacted by the initiative. Expand upon how risk and uncertainty should be factored
into cost-control decision-making.SUBMISSION AND GRADING INFORMATIONGrading
CriteriaTo access your rubric:Week 2 Discussion RubricPost by Day 4 and Respond by Day
6To participate in this Discussion:Week 2 DiscussionAssignment: What to Use, When to Use
It?As more payors look at the cost of reimbursement for care and patients take on more of
the cost of healthcare, it has become increasingly more important for all parties to know
what the cost is for procedures, care, and equipment. Government agencies are becoming
more involved in regulating care and cost, and one way that is being accomplished is by
demanding cost transparency.While the transparency requirements for private non-profit,
private for-profit, and state- or government-run hospitals may differ, all hospitals are being
encouraged, in one way or another, to share information publicly regarding costs and
care.Much of this public information can be found online. While most may not share all of
their financial reports with the public, many healthcare professionals may need to look at
any number of documents to cut costs, limit wasted resources, or improve efficiency and
quality. Each type of financial report provides specific types of information, and knowing
which one to use to achieve a goal is an important step.For this Assignment, using the
Learning Resources and other resources, you will analyze the information found in each of
the four types of financial documents and then provide examples of how they would be used
by a healthcare manager.To Prepare for this Assignment:Review each of the four documents
commonly found in financial reports: balance sheet, income statement, cash-flow statement,
and ratio analysisConsider the different perspectives of healthcare managers, and select one
perspective to address: a manager who works in a hospital department, nursing unit,
nursing home, or doctor’s office/practice.The Assignment: Analysis of Financial Statements
(Template)Complete the Assignment Template that provides a detailed explanation of each
of the following four documents commonly found in financial reports from your selected
perspective. Consider the ways that these documents would be used in your chosen setting
and what they would be used for:Balance sheetIncome statementCash-flow statementRatio

3. analysisMake sure to follow APA guidelines and your Assignment with
references.week_2_assignment_template.docx