Problem
"Healthcare is an ever-changing industry that requires healthcare organizations to align with those changes or risk being left behind. With the advances being made in technology, every corner seems to present the healthcare industry with new technologies, new approaches to treatment, new ways of rendering services, new electronic health record (EHR) platforms, and other innovations that promise to improve medical outcomes and ultimately, the quality of care rendered to individuals.
You will look at a Baptist Medical Center-Nassau in Fernandina Beach, FL and think about one major addition or implementation that you believe will help to turn the healthcare organization around. The healthcare organization has been facing financial challenges and your recommendation will go a long way toward improving outcomes. Your organization is being given a grant of $1 million dollars to invest in this plan that will assist in the turnaround of the organization. Think of a new or updated Electronic health record system, rebuilding the infrastructure to add more beds, investing in a rehabilitation robot, investing in a vaccine to treat a specific illness, condition or disease, or any other innovation.
Use the financial strategies and medical and financial reports you've learned about (profit and loss statement, break-even analysis, etc.). "
• Address at least 2 financial concepts presented in the course.