Application of Healthcare Business and Financial Management Principles
Current trends in healthcare, the recent recession and sluggish economic environment, and the
passage of the Affordable Care Act have forced the U.S. healthcare system to develop better ways to
provide effective care for less cost. Healthcare providers and facilities must demonstrate to the
government, payers, and the public that they provide care that is high quality, safe, and at a
reasonable cost. Becoming a healthcare provider of choice while closely managing the costs of doing
business and ensuring appropriate financial reimbursements is the new reality for organizations and
providers in the healthcare arena.
This assessment challenges you to demonstrate understanding of today’s complex healthcare
environment while using the business and financial skills learned to develop a strategic plan to move
your organization from the world of feeforservice (FFS) to value based purchasing (VBP). You will
evaluate your organization’s position and strategy for the implementation of VBP requirements. You
will need to identify the key stakeholders that would be involved (e.g., board members, senior
leadership team, physicians, directors, managers, staff, patients, and families). You will also need to
identify the critical departments of your organization (e.g., nursing, clinical support departments,
case management, supply chain, education, finance, decision support, risk management, revenue
cycle, medical staff office, physician services, physician practices, community and public relations,
marketing). Consider the various roles and functions for each department and stakeholder group and
determine which roles should be included in a strategic plan that you will develop.
Your strategic plan will include elements to educate, communicate, mobilize, and monitor the tactics
you wish to implement. You will identify the clinical and customer service components of VBP in the
next three years and develop a strategy to identify, educate, and inform all stakeholders of the
organization’s vision to achieve excellence in patient care and the highest reimbursements possible for
the next three years.
Note: Your submission may be in the format of a business plan document or a multimedia
presentation. If a multimedia presentation is selected, speaker notes must be used to include the
necessary level of detail and support. The executive summary in requirement C must be a separate
A. Evaluate your organization’s current status with implementation of VBP by doing the following:
1. Discuss to what degree your organization has embraced VBP.
B. Create a strategic plan to continue progressing VBP in your organization by doing the following:
1. Identify three departments that will have the most impact on VBP in your organization.
a. Explain why the roles and functions of these three departments are important for implementing
VBP in your organization.
2. Discuss goals, for each of the three departments, that will help your organization further the
implementation of VBP.
3. Describe how each of the goals chosen in part B2 will help attain quality outcomes in both patient
care and reimbursements over the next three years.
4. Identify the key points for your strategic plan that are critical for the staff to understand and
a. Discuss how you would market the key points of your plan to staff members.
5. Reflect on how ethical clinical and ethical business practices will be incorporated into the strategic
6. Explain how to coordinate informational and educational events for the three departments
identified in part B1.
7. Develop a timeline to ensure that VBP is addressed over the next three years.
C. Develop an executive summary as a separate document for key stakeholders and critical
department leaders that includes the following:
1. A description of the components of VBP that are most pertinent to the organization
2. The preparation that the three departments chosen in part B1 will need for the implementation of
VBP in the next three years
3. A discussion of the education and training necessary to prepare the staff in the departments
chosen in part B1 for implementation of VBP
D. When you use sources, include all intext citations and references in APA format.
Note: For definitions of terms commonly used in the rubric, see the Rubric Terms web link included in
the Evaluation Procedures section.
Note: When using sources to support ideas and elements in an assessment, the submission MUST
include APA formatted intext citations with a corresponding reference list for any direct quotes or
paraphrasing. It is not necessary to list sources that were consulted if they have not been quoted or
paraphrased in the text of the assessment.