Benefits of joining a Healthcare Management Association
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Fullhealth is one of the largest healthcare organizations in Helena, Montana. Fullhealth owns multiple lines of healthcare businesses including a health plan, three long-term care assisted living facilities, and two home healthcare agencies.
There are three types of healthcare enrollee plans with the following number of enrollees: 8500 Medicaid enrollees, 6200 Medicare enrollees, and 15,000 employer sponsored health plan enrollees. Within the last two to four years, all plans have consistently earned a profit. The Board of Directors, however, wants to raise the target profit for future years.
Local competitors with similar facilities have either earned marginal profits or reported a net loss. If profit losses continue, two of your company's competitors may be forced to go out of business by the end of the year. You are a staff member in the Finance Department of Fullhealth whose sole responsibility is to advance the success of the organization through assisting in the planning, forecasting, and managing of the organization's finances.
ASSIGNMENT:
You recognize that your contribution to the organization would improve if you joined an association for healthcare finance professionals. Write a memo suggesting some healthcare management associations you can join.
Use the Library and web resources to explore various healthcare professional organizations in finance, auditing, compliance, or other related entities, which would increase your knowledge in the listed areas through membership. In the proposal, include the purpose of the organization and benefits the company would receive from your participation.
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The response addresses the queries posted in 328 words with references.
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The response addresses the queries posted in 328 words with references.
//As per the directions, explanation about the Healthcare Management associations for joining is to be explained. One should know about the purpose of different Organizations, which further will assist in analyzing these firms in an effectual way.//
Memorandum
Date: May 9, 2008.
To: Fullhealth Organization.
From: Staff Member, Finance Department.
Subject: Suggesting some Healthcare Management associations for joining.
The Healthcare Management Associations have an expertise in various areas related to health services and have a well developed pool of efficient executives. Accordingly, I wish to join certain healthcare ...
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