Create and interpret financial statements within healthcare organizations.
Instructions: Financial statements are written records that communicate the business activities and a company’s financial performance. Financial statements are often audited by governmental agencies, accountants firms, etc., to ensure accuracy and tax, financing, or investing purposes. Financial statements include:
Balance sheet
Income statement
Cash flow statement
Budgets
For this assignment, imagine that you were asked to create a payroll budget for the Health Information Department located within the McGuire Health Clinic. In order to create your budget, you need to complete the Payroll Budget Template.
In your template, you are required to address the following key points:
Create a list of employees and their working titles
Determine their hourly pay rate and weekly hours (The salary figures you are creating are fictitious. You can use this Weekly Paycheck CalculatorLinks to an external site. to help you create each employee’s hourly and weekly pay rate)
Determine whether the listed employees will be eligible for bonuses
After you have completed the template, you are to write a 1-2 page paper summarizing why creating a payroll budget report is essential to the overall success of a healthcare organization. In your paper, you are to use a minimum of 2 scholarly sources in APA format to support your content.
Important Information to Note
The excel spreadsheet is already formatted to calculate your numerical data automatically.
Resources
Reiter, K. L., & Song, P. H. (2018). Gapenski’s fundamentals of healthcare finance (3rd ed.). Chicago, IL: Health Administration Press. ISBN: 978-1567939750
Assignment 2 HIPAA Violation
Purpose: To examine the seriousness and complexity of HIPAA violations and how they can impact a long-term care facility.
Instructions: First, reexamine the $1 million dollar violation discussed in the HIPAA JournalLinks to an external site.. Write a 1.5 – 2.5 page APA paper addressing the following:
Part 1: (.5 – 1 page):
Summarize the HIPAA violation presented
Part 2: (1 – 1.5 pages):
Create an intervention plan that would be used in your facility based on what you discovered in the HIPAA violation.
The intervention plan should include information from the required readings about technology in long-term care, as technology will continue to play a large part in all of healthcare.
To help you in this process please refer to the HIPAA Compliance Checklist
Be sure to include in-text citations and a reference page following APA format.
OCR Imposes $1 Million HIPAA Penalty on Lifespan for Lack of Encryption and Other HIPAA Failures
