Key trends in the modern health care operational environment that may have an impact on the effective leadership and management of a hospital or health care organization

Identify an organization of your choice in the health care field that will be used as the basis of your capital asset management review and recommendation presentation in Assessment 6. Include a rationale for your choice of organization. There is no page limit for this assessment. Assessment Instructions Note: Developing a capital asset management recommendation for a health care organization requires specific steps that must be carried out in a certain order. Therefore, you must complete the assessments in this course in the order in which they are presented. Preparation Use the Internet and the Capella University Library to research the following topics: • Key trends in health care: Identify 3–5 key trends in the modern health care operational environment that may have an impact on the effective leadership and management of a hospital or health care organization. • Potential target organizations: Identify 3–5 potential target organizations for which you can find information about the executive leadership, along with sources of financial information for each organization using publicly available information on the Internet. o Financial structure: Once you have identified your targeted organization, you must familiarize yourself with the financial structure of the organization as it pertains to the operational environment and strategic planning. o Diversity: Assess the diversity of your target organizations and the potential key individuals for potential interviews to successfully complete the course. For each organization, collect the following information: • Type of organization. • Tax status, either for-profit or not-for-profit. • Key executive leaders. • Key websites. • Basic market demographics, such as target populations served. In addition, locate and analyze the financial statements of all three organizations. • Calculate at least two key ratios for each financial statement, balance sheet, statement of cash flows, and income statement. Provide a trend analysis of those ratios across several years. • Summarize the general financial health of the organization based on your analysis. This will form the support for the rationale you use to select your target organization. Note: Select and contact the key executives as far in advance as possible to ensure adequate time to find time on their calendar. Multiple attempts at different offices and organizations might be necessary. Target Organization Selection and Identification Narrow your selection to one target organization that will form the basis for the rest of the assessments in this course. Describe the following information about your targeted organization: • How long has the organization been in existence? • What kind of work do they do? Possible examples include hospital, clinic, community health, public health, et cetera. • What is their target population? • What are your target organization’s mission and vision statements, goals, strategic plan, and organizational structure? Examine these and hypothesize how this information might affect their capital asset budgeting. Provide a rationale for your selection. Discuss why you chose this organization over the other two options. • Do you have access to decision makers in the organization? • Are you interested in the organization? • Do you work with, or want to work with, similar populations? Summarize your findings for the organizations in terms of their operating environment, including the previously listed elements. Consider the market competition in the local area and how these organizations fit into the marketplace, including their use of technology. Additional Requirements Your assessment should meet the following requirements: • Written communication: Demonstrate academic writing skills by communicating with writing that is clear, logical, and grammatically correct. • APA format: All sources must be cited using current APA standards. Suggested Resources Hospital Operations Management Review the following: • Langabeer, J. R., II., & Helton, J. (2016). Health care operations management: A systems perspective (2nd ed.). Burlington, MA: Jones & Bartlett. Available from the bookstore. o Chapter 1, “Health Care Operations and Systems Management,” pages 1–30. o Chapter 2, “Health Care Marketplace,” pages 33–45. This website has links to many resources and publications on health care management and leadership, as well as information on operations and financial management in a variety of organization types: • American College of Healthcare Executives. (n.d.). Retrieved from http://www.ache.org/ This website provides information and links focusing on the management of medical group practices, and may be helpful to review for Competencies 1 and 2: • MGMA. (n.d.). Retrieved from http://www.mgma.com/ Health Care Organization Capital Asset Budgeting This study examines the efficiency of for-profit hospitals and not-for-profit hospitals, capital budgeting practices of the health care industry, and effects of health care mergers and acquisitions on capital budgeting decisions: • Mukherjee, T., Al Rahahleh, N., Lane, W., & Dunn, J. (2016). The capital budgeting process of healthcare organizations: A review of surveys. Journal of Healthcare Management, 61(1), 58–77. This website has links to publications and information on industry initiatives and topics related to financial management and budgeting: • HFMA. (n.d.). Retrieved from http://www.hfma.org/? This resource focuses on financial budgeting, assets, and investments: • Investopedia. (n.d.). Retrieved from http://www.investopedia.com This article discusses how a rolling budgeting process can be extended to capital planning activities to offer a much more flexible financial tool for health care organizations: • Santilli, J., & Vogenberg, F. R. (2015). Key strategic trends that impact healthcare decision-making and stakeholder roles in the new marketplace. American Health & Drug Benefits, 8(1), 15–20.