HEALTHCARE FINANCE: HLTH420 – 1304A – 01 GROUP PROJECT UNIT 4 BAKER AND BAKER; CHAPTERS 13-16
For the project we must decide on what department we will be discussing… Any ideas? My suggestion is nursing department In a nursing home of two floors and 40 beds on each floor…
Your team of employees and you are working on a big project for the hospital’s chief financial officer (CFO). Together, you will develop a system to justify the full-time employees of the laboratory department.
Address the following:
• Decide how many hours during the week the department must be staffed to fully operate.
• Calculate, using one of the FTE formulas to justify, how many full-time employees are necessary. Assume that the full-time employees will work five 8-hour shifts. The minimum amount of employees per shift is: 1 pathologist, 2 laboratory technologists, and 1 front office person.
• Provide details as to the services the laboratory offers and the revenue it can generate for the hospital to help the CFO put this information into perspective.
• Provide a cost analysis of the day-to-day operation expenses of the department.
• Analyze cost using the cost classifications of direct versus indirect and flexible/variable/semivariable.
Combine the information into a PowerPoint slide presentation to present to the hospital CFO. Make the slides informational and also visually appealing. For more information on creating PowerPoint Presentations, please visit the PowerPoint Lab.
As an individual, you will need to contribute to your team in an effective manner. You will be graded on your individual contribution and also your group’s end product as well. For your individual portion, focus on the department your group has decided to address, and begin calculating the number of hours you feel the department needs to operate and how you would figure out how many full-time employees are necessary to achieve that level of operation. After doing so, start identifying costs that the department may incur as a result of normal operation and identify the revenue it is also capable of bring in. Write a brief summary of your findings to turn in to the instructor, and also be sure to share your information with your group. Remember that as a group, your overall objective is to combine everyone’s information into one presentation for evaluation.
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