Projected Financial Statement Analysis
Projected Financial Statement Analysis
ORDER NOW FOR CUSTOMIZED AND ORIGINAL ESSAY PAPERS
A projected financial statement analysis seeks to forecast the impact of various implementation decisions. The pro forma financial statement can be part of the risk analysis of strategic plan. The goal of this assignment is to ensure your strategic plan is viable financially. In other words, does it create value for the firm? Projected Financial Statement Analysis
Consider the cost structure and revenue streams for your strategic initiative plan. Research and data collected so far and will likely change once your product or service is commercialized. Each statement should address financial components of features, expenses, and sales of your product or service. It is typical for net income to be negative at this point. Do not assume that you have sales at this point unless you have sold your product or service. Projected Financial Statement Analysis
Research the following if your plan is entrepreneurial:
- Balance sheet
- Income statement
- Statement of cash flow
- Fixed and variable expenses
- Startup expenses
- Breakeven analysis
Research the following if your plan is a market expansion plan for an existing organization, or a mergers and acquisitions plan:
- Balance sheet
- Income statement
- Statement of cash flow
- Fixed and variable expenses
- A projected budget
- Breakeven analysis
TO DO: USE ATTACHED EXCEL SHEET – Complete the “Projected Financial Statement Analysis (Pro Forma 3-Year Financial Plan)”including the “Questions” tab, “12 Month P& L” tab, “Year 1” tab, “Year 2 P&L” tab, and “Year 3 P&L” tab. The first year is monthly and the second and third year are presented quarterly. Please note the questions in the “Questions” tab may be answered at different points in completing the Profit and Loss information.
Attached is all the information prior to this assignment. You can use this to assist with this process.
9attachments
Slide 1 of 9
attachment_1attachment_1
- attachment_2attachment_2
- attachment_3attachment_3
attachment_4attachment_4
Operations Chart
Directions: Complete the Operations Chart, based upon the strategic plan you have established for your organization. Write your strategic initiative in the space provided and write three to five primary goals. Next, select one goal/objective from the primary goals/objectives you listed. As you complete each row in the Year 1 column, consider the key organization functions and skills listed in each box, and articulate your strategies related to each. Repeat the identified goal/objective for Year 2 and Year 3. Please note the goals/objectives can be different from year to year.
| Strategic Plan (Vision): To provide a uniform structure for appropriate utilization review of the organizations resources: to achieve the highest quality of care possible; in a cost-effective manner; compliant with regulatory requirements. | ||
| Primary Goals/Objectives:1. To design a centralized Utilization Remote team under the organization system separate from the hospital Discharge Planning team within Care Coordination.2. Implement a standardized process for completing Utilization Reviews throughout the organization.3. Complete all Admission InterQual reviews within 24 hours of admission, including the assignment of a working DRG.4. Increase productivity within Utilization review, decrease secondary reviews by assessing the appropriateness of level of care, and decrease denials. | ||
| Year 1 | Year 2 | Year 3 |
| Goal/Objective: Design Centralized Utilization Remote Team· Develop staffing calculator to understand staffing needs according to current volume· Engage stakeholders in developing communication points. Stakeholders will be physicians, hospital leadership, compliance,· Define roles and responsibilities for each member of the team. | Goal/Objective: Implement standardized Utilization Review process & complete within 24 hours of admission· Develop one workflow regardless of hospital location.· Develop process for monitoring missed reviews and escalation procedure for when reviews are not able to be completed.· Develop process measures to monitor effectiveness of standardized process. | Goal/Objectives: Increase productivity and decrease secondary reviews· Monitor productivity and remove barriers to completing reviews timely· Recruit on-site Physician Advisors to assist in peer to peer conversations· Develop education for ED physicians and Hospitalists for required documentation for level of care and expectation of 2-midnights. |
| Operational Issues (Consider problems that might arise and the importance of contingency planning)· Union issues with staff moving locations· Communication with physicians· Providing patient notifications to patients | Operational Issues (Consider problems that might arise and the importance of contingency planning)· Identifying educational needs for all staff· Having enough physicians on-site to assist with secondary reviews· Meeting compliance requirements within 24 hours of admission | Operational Issues (Consider problems that might arise and the importance of contingency planning)· Obtaining qualified staff competent in utilization review· Securing new medical record documentation system to improve efficiency· Training and monitoring operations of all staff. |
| Human Resources (How will you address staffing needs and organizational growth?)· Recruit current RNs from Care Coordination who’s performance is good in Utilization Review· Involve employee relations and Human Resource leadership in the design and selection of staff.· Develop incentives to transition to Care Coordination. | Human Resources Issues (How will you address staffing needs and organizational growth?)· Develop competencies for staff· Develop education for staff· Develop expectations for staff | Human Resources Issues (How will you address staffing needs and organizational growth?)· Monitor staff monthly on their own productivity and review with each staff member· Hire internal on-site physician advisors· Develop action plan and education for staff who are not meeting productivity standards |
| Supply Chain (How and where will you acquire resources?)· Use current health record for documentation of medical necessity· Obtain communication system for physician efficiency and recording· Work with IT to obtain computers and supplies. | Supply Chain (How and where will you acquire resources?)· Extend remote physician advisor contracts for an additional year.· Bring in outside vendor to provide compliance Medicare education· Collaborate with criteria vendor for new and improved review process. | Supply Chain (How and where will you acquire resources?)· Obtain updated software to complete reviews.· Analyze the use of observation versus inpatient status.· To supply new technology with completing reviews timely. |
| Marketing (Consider 4 P’s and I’s, target market, pricing, brand value, and CSR)· Provide high quality service and ensure plan meets the needs of every hospital by providing efficient and compliant service· The price for the service to each hospital will decrease from the current costs associated with utilization review within the hospital· The new service will be promoted to all stakeholders and will be attractive to the physicians. | Marketing (Consider 4 P’s and I’s, target market, pricing, brand value, and CSR)· All utilization review services will be conducted in one location, making auditing easier.· The office of inspector general will approve of the standard set for completion within the timeframe ensuring all patients treated the same.· Auditing and experience surveys will be completed to ensure meeting both the stakeholders and employees needs. | Marketing (Consider 4 P’s and I’s, target market, pricing, brand value, and CSR)· The Corporate Social Responsibility would be highly discouraging abuse of cutting corners in a review to increase productivity· All patients regardless of payer will have utilization review completed the same way based from criteria· Evaluations will be conducted to ensure the new service is meeting the needs of the hospital and physicians. |
| Value Chain (How does your firm add value to primary and support activities in the value chain?)· Provide more efficient tools in identifying payer up front to ensure correct regulatory requirements are being met.· Develop automation tool to inform utilization review team of new patient in E.D. or direct admit.· Add new analytics software to evaluate process measures of new program. | Value Chain (How does your firm add value to primary and support activities in the value chain?)· Expand analytics software to meet the needs of the new process measures put in place.· Provides real time medical necessity reviews prior to admission.· Frees up on-site case managers to focus on discharge planning | Value Chain (How does your firm add value to primary and support activities in the value chain?)· Provides increase reimbursement· Provides decreased denials when the level of care is correct at the admission· Provides consistency for Care Coordination staff and assurance to hospitals for compliance. |
| · Hire experienced leadership in Case Management· Develop action plans for every identified barrier· Stick to the facts and take action of all issues | Leadership (Leadership methodology and any bias you may have.)· If the new workflow is not working, change it until it is right.· Use data to identify what is not working within the workflow· Direct other leaders in what, how, when, and where tasks should be done. | Leadership (Leadership methodology and any basis you may have.)· Show concern for the well being of staff· Encourage high achievement and set challenging goals for all staff· Welcome input and consult with staff. |
| · All patients are treated the same· Physicians using medical judgement consistently the same on all patients· Patient Notifications need to occur timely. | Ethics & Sustainability (What are the ethical considerations related to your identified goal/objective)· All patients are treated the same· Physicians using medical judgement consistently the same on all patients· Patient notifications need to occur timely | Ethics & Sustainability (What are the ethical considerations related to your identified goal/objective)· All patients are treated the same· Physicians using medical judgement consistently the same on all patients· Patient notifications need to occur timely |
0 comments