Discussion: Financial Management in Healthcare
I. Who are the major stakeholders utilizing healthcare financial information? List the key stakeholders, and briefly describe how each of them uses financial information in their role.
II. Why is financial ratio analysis crucial for understanding the financial position of a healthcare organization? Select any three of the commonly used financial ratios, provide the formula, and briefly explain what it tells us about the status of the healthcare facility.
III. Why is payer mix so important in healthcare strategic financial planning? What could happen if a healthcare organization's payer mix changed substantially from one year to the next?
IV. Explain the difference between direct and indirect costs for a healthcare organization. Provide and discuss at least one example of a direct cost in health care and one example of an indirect cost in health care.
The response should include a reference list. One-inch margins, Using Times New Roman 12 pnt font, double-space and APA style of writing and citations.