LP9.2 Final Project Requirements
Section 1
1. Introductory paragraph will require the following elements (This must be a narrative, do not
list items a-e and answer them as bullets):
a. Type of organization (e.g., hospital, medical practice, medical supply company, etc.)
b. The organizations primary consumers
c. Major sources of revenue (medicare, medicaid, private insurance, etc.)
d. State if you conducted an interview or used the case example in the textbook
d. If you conducted an interview, what position did your interviewee hold and name if they are
willing to share.
e. The name of the organization, which can be a pretend name if you are developing your
project from the textbook or changed if the interviewee requests.
If you worked with an organization and conducted an interview, please explain up front that you
can change the name of the organization and person being interviewed if they desire. Some
organizations are non-profit public and their information is made public, so this may not be an
issue. But assure the organization up front that you are a student completing a finance project
and the organizational name, interviewee, and financial information will be altered if desired. We
are looking for process, strategies and goals primarily from the project, but we also need
financial information to provide insight into financial decision making.
Section 2
The next section will be the financial budgeting information. This section must include at least
the following elements:
1. All the rows in table 16-6 (financial categories to be listed)
2. All the columns in table 16-6 (first 3 months of the year, followed by quarterly for the
remaining)
3. If you conducted an interview and an element is not included in their budget, still include it on
your table, but plan to explain why it is not used in section 3 of this project
4. Generate your own financial figures or use information from your interview process
5. The financial figures must be explainable in section 3, and correspond to concepts and
theories outlined in our text. Some budget figures influence and correspond to others in a
budget. Do not just plug in figures without being able to explain them in section 3.
6. Your budget should show fluctuations and changes for appropriate categories, some may not,
but be ready to explain why. Budgets always change and fluctuate.
7. No credit will be awarded for financial figures unless they are fully explained in section 3.
Section 3
This section will require students to explain each element of the annual budget in detail. The
instructions for section 3 include:
1. Each row or category must be explained fully. For example, what makes up the category and
the importance of the category in the budget? Explain expected changes, fluctuations or figures
that will remain the same. If you conducted an interview, explain in detail why the organization
does not include it in their budgeting process.
2. Each row in the budget may contain several itemized elements that make up the total figure.
Insert a table (with the same columns required from section 2 for the major categories that have
itemized components. For example, explain what elements make up the total figure for the
Receipts from Operations, and so on in the rest of the categories as necessary. This must be
done for each month and column in your table. Your itemized elements must be financially
sound and correspond to the listed total figure for its respective month or time period from
section 2.
Section 4
In this section, you will provide a narrative conclusion on the overall financial project for the
year. This portion for the project is very important. Financial data is only useful if healthcare
managers understand what they mean, and explain them clearly and make operational
recommendations for continued success. Your conclusion should include the following
elements:
1. Your final conclusion should provide a narrative explanation of strategies for the next year
based on your budget. In your narrative make sure to address how the total figures for each
major category are influenced by the itemized figures, and what operational strategies need to
continue or change to assure success.
2. If your organization is financially stable or growing, make strategic recommendations for
continued success. For example, if you organization is doing financially well, list several ways
you would recommend using the additional income to improve services, expand investment
income, or expand services.
3. If your organization is not financially stable or has items that need improvement financially,
make strategic recommendations that will attempt to remedy the financial dilemma.
4. Your last item to include is to identify potential risks, barriers, or changes that will influence
your organization’s financial health.
Section 5
List all your source of information in a reference list according to APA format and style.
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