The week 11 assignment seems like a lot and could seem overwhelming, but BEFORE?YOU THINK YOU CANNOT DO THIS just TRY a step-b-step approach! YOU WILL SURPRISE YOURSELF!? THERE

The week 11 assignment seems like a lot and could seem overwhelming, but BEFORE YOU THINK YOU CANNOT DO THIS just TRY a step-b-step approach! YOU WILL SURPRISE YOURSELF!  THERE ARE 3 Parts, we will start with Part 1.

The Assignment: Finalize your Healthcare Budget Request by completing the following:

Part 1: Financial Statement Calculations and Analysis:

  • Open the Excel Assignment  and navigate to the “W10/11A6 Financials” worksheet.
  • You have 2 options for completing this Assignment as noted in the Excel Assignment Workbook. The  Healthways Financial Statement worksheet is easier to use as it already has the data entered. A couple of things to note on the Healthways Financial Statements worksheet. 
    • Using the Healthcare Budget Request Guide for guidance, conduct analyses as directed on either your organization’s financial statements or those provided in the Healthways Financial Statement worksheet. Your analysis will include a spreadsheet calculation of financial statement ratios.
    • If you can not get your organization's financial statements and decide to use the Healthways statements, you are pretending that these numbers represent your organization's financial statements.
  • Revised 8-12-2021 Horizontal Analysis Week 10_11 Assignment Help.pptx Download Revised 8-12-2021 Horizontal Analysis Week 10_11 Assignment Help.pptx

    The template has some color (blue) where you need to place answers. 

    • In cell D40 we are looking at the difference between FY2018 and 2017. We think of the difference as simple subtraction, but this is confusing because of the negative number. So, therefore, the income of 3758 minus the negative number actually adds the two numbers together. However, it you use the same formula with cell addresses it will take care of this for you. =B40-C40
      • Percentage change for total operating expense and net income
        • To offer some direction on how to calculate the percentage change. See below:
        • For total operating expense as an example. The calculation is a given year's total operating expense (2018) minus the prior year's total operating expense (2017), divided by the prior year's total operating expense (2017). Formula to use (D38/C38) or (B38-C38)/C38 The resulting figure is then multiplied by 100 or you can use the % cell format function.
      • Return on Assets.
        • Refer to your guide for an explanation of how to do the calculation.
        • The formula is: Return on Assets = Net Earnings (income)/ Total Assets
        • Just be sure you are using the correct numbers as identified above. Hint: Net Earnings is in row 40 and total assets is in row 38
      • Interpretation and analysis
        • The following note is found on your spreadsheet, but it is intended to guide you in writing your narrative analysis in part 2. You can make some notes on the spreadsheet to help you write your analysis, but it won’t be graded.
        • In your narrative analysis that you will write in the Healthcare Budget Request Template, you should address:
        • Income Statement
        • Balances
        • Expense per Encounter
        • Total Operating Revenue per Encounter
        • Operating Margin
        • Days Cash On Hand

Part 2: Summary of Analyses and Interpretation of Results:

Create a brief (1- to 2-page) description of your analyses. *Be sure to address the following in your summary:

  • The sub-title for this section in the Healthcare Budget Request document is
  • W10/11A6 Organizational Statement Analyses
  • Describe the results of each statement analysis. What do the results of each analysis mean?
  • Income Statement
  • Balances
  • Expense per Encounter
  • Total Operating Revenue per Encounter
  • Operating Margin
  • Days Cash On Hand
  • What does your complete financial statement analysis suggest about the financial health of the organization?
  • If using your current organization’s data, does your analysis help describe any observed organizational behaviors or actions? Explain.
  • What assumptions have you made in your analyses?
  • What implications do these analyses have for your proposed healthcare product or service?
  • *I would use these questions to make headings in my analyses. Please don’t use these exact words, just abbreviate. For example, the second bullet: “What does your complete financial statement analysis suggest about the financial health of the organization?” this subtitle could be “Financial Health of the Organization”

Part 3: Summary of Work and Final Healthcare Budget Request

Compile and summarize your work in previous assignments.You have already done this work, just make any corrections. You should use the Healthcare Budget Request document, that we have been using all term. Your final Healthcare Budget Request should include:

  • A final version of your Executive Summary
  • (W2A2 Executive Summary)
  • A final version of your projected expenses and revenues
  • (W4A3 Projected Expenses and Revenues (Five Year)
  • A product/service budget for the launch and the first 5 years
  • (W6A4 Projected Budget (Five Year)
  • Part 2 from this week’s assignment. Part 2: Summary of Analyses and Interpretation of Results
  • (W10/11A6 Organizational Statement Analyses)
  • A 3- to 5-slide PowerPoint presentation containing the final version of your elevator speech, incorporating selling points from your analyses that you believe make the business case for nurse entrepreneurship and leadership’s commitment to your proposed healthcare product or service. 
  • example:Hi Ms. Smith, I am Debbie Sullivan from our ICU. I know that you are aware of the severe nursing shortage we are experiencing in our ICU. I have developed a plan to retain our nurses while being able to show how we can see a return on investment of 75% in year 1. It will only take 6 months to pay back the initial investment to start up the program. I can also show you a cost/benefit analysis. Could I call your office to set up a time to meet with you to provide details of my plan?
  • Please submit the actual PowerPoint as well as including screen shots in this document.
  • For the power point, you only need to include a cover slide, a slide with the elevator speech (20-60 secs of narration, read it out loud to be sure it fits within this timeframe), and a closing slide. Previously I suggested 5 slides, but it is not necessary, so either one will be fine.
  • The elevator speech should be persuasive, remember you are trying to get an organizational leader’s attention. You are persuading the leader to pique interest and want to know more about your project topic.
  • The elevator speech is not analyzing Healthways Clinic. The analysis is what will make the business case for YOUR project.
  • For clarification. You should write out your elevator speech on one of the slides. You could add it as speaker notes, but please let me know that you have done this because I would not see it unless I open the file. Be sure to attach the power point file.
  • Here is an example:

· You should post the pictures of the slides or handouts within the last section of the Healthcare Budget Request Template with the subtitle

  • W10/11A6 Summary/Elevator Speech (PPT slides)

To summarize, you have 3 parts to this assignment as outlined above. You will turn in 3 documents. Remember to load all the files before you submit the final assignment.

  • The Healthcare Budget Request Template which is the Excel document
  • The Healthcare Budget Request Template which is the Word document
  • A PowerPoint file

Healthcare Budget Request

<VR Treatment>

Prepared by:

<Name>

Submitted:

<Date of submission>

W2A2 Executive Summary

<Include your executive summary here, as completed in W2A2, Part 1>

Mental health therapy alternatives are lacking at HealthWays Clinic. Due to the rising incidence of mental health concerns and the need for creative therapies, VR Treatment might be used in the clinic. VR Therapy benefits mental health patients with anxiety, phobias, and PTSD by providing immersive experiences.

VR Treatment will affect many HealthWays Clinic stakeholders. This unique therapy technique benefits mental health sufferers most. The clinic's doctors and nurse practitioners will be vital to incorporating VR Treatment (Kouijzer et al., 2023). Administrative and clerical workers must also adjust procedures and scheduling. The finance department will manage this initiative's budget to ensure sustainability and cost-effectiveness.

Stakeholder Responsibility: Mental health specialists will lead VR Treatment implementation. They will help establish therapy protocols, track patient progress, and integrate VR therapy into care plans. Administrative personnel will help with scheduling and patient education. Due to its budgeting and financial management skills, the finance department will be crucial in raising funding for VR equipment starting and operations expenditures.

Proposed Healthcare Product/Service: A comprehensive Virtual Reality Treatment Program addresses the mental health services need. This package comprises VR equipment, software, staff training, and operating expenditures, including throwaway materials and maintenance (Kouijzer et al., 2023). The VR Treatment Program will complement HealthWays Clinic's holistic, patient-centered treatment. VR Treatment may increase mental health patient involvement and results due to its immersive nature.

Budget: The VR Treatment Program budget includes launch and operating expenditures. Startup expenses include VR equipment, personnel training, and infrastructural changes. Operating expenses include disposable materials, maintenance, and personnel training to ensure VR Treatment success. VR Treatment Program patient fees will determine revenue predictions (Chung et al., 2022). Financial factors include prospective income sources and the long-term ROI of better patient outcomes and satisfaction.

Communicate and Propose: Leadership must be informed about the mental health service deficit, the VR Treatment Program's potential advantages, and the financial commitment needed to execute it. It will emphasize HealthWays Clinic's dedication to innovation and patient well-being by aligning VR Treatment with its purpose and values (Kouijzer et al., 2023). To gain leadership support, transparent and open communication must emphasize the long-term benefits to patient care and the clinic's healthcare reputation.

References

Chung, O. S., Robinson, T., Johnson, A. M., Dowling, N. L., Ng, C. H., Yücel, M., & Segrave, R. A. (2022). Implementation of therapeutic virtual reality into psychiatric care: Clinicians’ and service managers’ perspectives. Frontiers in Psychiatry, 12. https://doi.org/10.3389/fpsyt.2021.791123

Kouijzer, M., Kip, H., Bouman, Y. H. A., & Kelders, S. M. (2023). Implementation of virtual reality in healthcare: a scoping review on the implementation process of virtual reality in various healthcare settings. Implementation Science Communications, 4(1). https://doi.org/10.1186/s43058-023-00442-2

W4A3 Projected Expenses and Revenues (Five Year)

<Include your 5-year projected expenses and revenue here, as completed in W4A3, Part 1. Copy your final worksheet here and include your analysis.>

Descriptive Statistics and Analysis

Four primary domains are measured by descriptive statistics: position, frequency, dispersion or variation, and central tendency. It is employed to assess the qualities of the data. Information about the variables and their relationships is provided by descriptive statistics. It is simpler to comprehend and apply data for the intended purpose when the relationship between two or more variables in a data collection is highlighted (Statistics Canada, 2021). With the aid of descriptive analysis, data can be interpreted to reveal important themes and patterns. The information released includes the respondents' age, highest grade finished in school, family income, race and ethnicity, and work status at the moment.

Analyzing data based on how frequently it occurs from the research is known as frequency analysis. The frequency of the respondent's age, highest finished school grade, and family income from the previous month are explained below. The information displayed in every table is an illustration of the study that was done. A thousand participants in the study or a thousand samples based on the age of the respondent were gathered. Among the one thousand respondents, the youngest participants were 19.378 years old. The oldest participants in the practice were around 49.430 years old. This indicates that the age range of the one thousand participants in this activity was nineteen to forty-nine. All of the participants in the practice were, on average, thirty-six years old. The majority of respondents are near the mean for their age, as indicated by the standard deviation of 6.198741. At the time of the interview, a significant portion of the respondents were approximately 36 years old. The data is significantly asymmetrical, as indicated by the skewness of the data, which is -.374.

A tabular and graphical depiction of this analysis can be found below.

Descriptive Statistics

A table with numbers and a number of data Description automatically generated with medium confidence

A graph of a graph showing a number of people Description automatically generated

Nine hundred and eighty-nine people made up the sample in the greatest school grade practice. One is the lowest grade obtained in school, while sixteen is the best. Based on the available data, the average academic score attained by the participants is 11.28. The highest grades earned have a mean of 1.561. Many of the participants achieve a grade that is nearer the average. A cluster is present in the vicinity of the 1.561 grade. Eight hundred and ninety-five respondents took part in the study of the family income data that was supplied. A maximum of $6593 per month is earned by 895 households that took part in the interview; some families receive no income at all. The monthly average income earned by the families is $1172.59. For these statistics, the standard deviation is $788.153. The fact that the standard deviation deviates further from the mean suggests that each family's monthly income is highly scattered (Trafimow et al., 2019). With a data skewness of 2.030, the information gathered about monthly income is very unequal.

Below are tabular and graphical representations of the above analyses.

A table with numbers and text Description automatically generated

A graph of a school grade Description automatically generated

The goal of descriptive statistics is to explain how the variables in a statistic relate to one another. Age of the respondent, highest grade completed, race and ethnicity, employment status at the time of the survey, and family income from the previous month are the variables included in this statistic. The age range of the responders is nineteen to forty-nine. The majority of those surveyed are in the thirty-six-year-old range. The majority of respondents have an 11-grade education, which makes sense given the circumstances. Given that the majority of responders are 32, most have completed their education, though some are still enrolled..

Race and Ethnicity

In terms of race and ethnicity, 128 respondents are Hispanic, 53 are white and not Hispanic, 14 belong to other racial or ethnic groupings, and one did not answer the question. Of the respondents, 803 are black and not Hispanic. Black and non-Hispanic people make up the largest demographic among the 1000 respondents, accounting for 80.5% of the total. All responses added up to 100%: white and non-Hispanic respondents made up 5.3%, other respondents 1.4%, Hispanic respondents 12.8%, and one respondent, 01%. Below is a tabular representation of this analysis.

A table with numbers and text Description automatically generated

Race/ethnicity

452 respondents, or 54.6% of the 1000 respondents who took part in the interview, are employed; 546 respondents, or 45.2%, are unemployed; and 2 respondents, or 0.2%, are not in the employment system. Those who achieved a grade of 1 and those who are 19 years of age who may still be enrolled in school make up the 546 respondents who do not have a job. Given that the majority of respondents are between the ages of 32 and forty-two, there are 462 employed respondents. They are currently employed and have completed their education since they are thirty-two years old. The two responders who are not employed may be individuals who completed grade 1 education.

Below is a tabular representation of this analysis.

A table with numbers and text Description automatically generated

There is a direct correlation between the number of employed and unemployed respondents and their income from the previous month. Among the 462 respondents that have jobs, the percentage of respondents who earn $6593 is 6.59. Given that the majority of respondents received an average grade of 11, the average salary of $1172.59 is correlated with their academic performance. The respondent's standing in the job system and income from the previous month both increased with the grades they received. Families with unemployed members may be among those who did not receive any money for the preceding month. The highest grade received in school is influenced by the respondents' age. The number of applicants based on race and ethnicity correlates with the highest grade received. Every family's income is correlated with the number of workers. Higher employment levels would arise from more people obtaining higher levels of education, which would raise the amount of money earned in each family.

Below is a tabular and graphical representation of this analysis. A table with numbers and text Description automatically generated

A graph of a family income Description automatically generated

References

Trafimow, D., Wang, T., & Wang, C. (2019). From a sampling precision perspective, skewness is a friend and not an enemy!. Educational and Psychological Measurement, 79(1), 129-150. https://doi.org/10.1177/0013164418764801

Statistics Canada. (2021). Statistics: Power from Data 4.3 frequency distribution. Retrieved March 19, 2022, from https://www150.statcan.gc.ca/n1/edu/power-pouvoir/ch8/5214814-eng.htm

W6A4 Projected Budget (Five Year)

<Include your projected 5-year budget here, as completed in W6A4, Part 1. Copy your final worksheet here and include your analysis.>

A complete financial analysis of expenses and revenue is needed for our five-year budget in this healthcare business. This will ensure the venture's financial feasibility and sustainability. The budget displays a thorough financial trend over five years, covering startup and operating expenses (Dwivedi, 2022). VR equipment, training, infrastructure improvements, and other startup expenses reduce (Holuša et al., 2023). The company front-loads investments and tapers them as the project gains momentum and stability. $1,574,200 in startup expenses, largely in the first year. Disposable materials, maintenance, training, and other operating expenses are routinely distributed. This $360,000 annual operating expenses stability provides financial security. The stability of operating expenses improves budget.

Startup and operating expenses dropped over five years. This decline offers a financial strategy for operational efficiency and sustainability. By year five, expenses are $268,500, down from $1,934,200.Revenue diversification is obvious. Patient payments, grants, and partnerships provide funding. Patients pay $150,000 in the first year and $350,000 in the fifth. Five-year grants and partnership funding range from $100k to $50k. Minor profits soften the financial picture. ROI shows a company's financial performance. A negative ROI in the first year suggests early investment. Positive returns reach 0.88 in year five. This excellent trend shows the corporation may profit from its investment. Startup expenses are 18.5% of the budget but 8.4% by year five. Operating expenses average 18.6% of the budget over five years Strategic balance between initial investments and operating expenses is shown by these percentages. Risk analysis is essential to financial planning. Patients fee fluctuation grant funding instability infrastructural changes Dangers can be reduced by diversified income streams financial buffers flexible budgeting according to Viall et al. (2021).

In conclusion, the five-year projected budget reveals a sound resource allocation and financial sustainability approach You can count on a long-term success with broad revenue model calibrated launch and operating expenses Postive ROI and declining expenses show the budget’s financial discipline A growing company's budget reflects financial health, dangers, and expansion potential.

A screenshot of a computer Description automatically generated

References

Dwivedi, Y. K. (2022). Metaverse beyond the hype: Multidisciplinary perspectives on emerging challenges, opportunities, and agenda for research, practice and policy. International Journal of Information Management, 66(66), 102542. Sciencedirect. https://www.sciencedirect.com/science/article/pii/S0268401222000767

Holuša, V., Vaněk, M., Beneš, F., Švub, J., & Staša, P. (2023). Virtual reality as a tool for sustainable training and education of employees in industrial enterprises. Sustainability, 15(17), 12886. https://doi.org/10.3390/su151712886

Viall, A. H., Bekemeier, B., Yeager, V. A., & Carton, T. (2021). Local health department revenue diversification and revenue volatility: Can one be used to manage the other? Journal of Public Health Management and Practice, 28(1), E226–E234. https://doi.org/10.1097/phh.0000000000001327

W10/11A6 Organizational Statement Analyses

W10/11A6 Summary/Elevator Speech (PPT slides)

<Include a handouts view or other printout of your “elevator speech” here, that highlights the value of your proposal, incorporating selling points from your analyses that you believe make the business case for nurse entrepreneurship and leadership’s commitment to your proposed healthcare product or service>

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W1A1 HealthWaysBudget

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Table 1. HealthWays Clinic, Monthly Expense Budget Report, June 2018.
Item June 2018 May 2018 2018 YTD
Budget Actual Difference Actual Budget Actual All blue shaded cells require your answers.
Physician FTE 1.0 1.0 0 1.0 1.0 1.0
Nurse PractitionerFTE 3.0 3.0 0 3.0 3.0 3.0
Encounters:
Established patients 275 291 16 286 1650 1671
New patients 25 18 (7) 27 150 164
Total encounters 300 309 9 313 1800 1835
Expenses:
Physician Salaries & Benefits $10,500 $10,502 (2) $10,509 $63,000 $63,149
NP Salaries & Benefits $20,000 $20,992 (992) $20,191 $120,000 $122,001
Clerical (2 FTE) Salaries & Benefits $6,667 $6,771 (104) $6,683 $40,000 $41,978
Total personnel expense 37167 38264 (1098) 37383 223000 227128
Medical supplies $7,500 $8,136 (636) $7,994 $45,000 $47,883
Office supplies $623 $583 40 $508 $3,498 $3,407
Rent $2,917 $2,917 0 $2,917 $17,502 $17,502
Depreciation $333 $346 (13) $346 $1,998 $2,050
Capital Expenses $3,333 $3,480 (147) $3,480 $19,998 $20,439
Overhead $167 $167 0 $167 $1,002 $1,002
Total non-personnel expense 14873 15628 (755) 15412 88998 92283
Total health center expense 52344 54205 (1843) 53112 313802 321250
Interpretation:
I. Answer the following question related to the results of your calculations: What interpretations can you make based on the data? What is happening in regard to such measurables as:
1. The full-time equivalents (FTE) for HealthWay employees:
1. Answer: Physician FTE stays at 1.0, suggesting that the clinic has met its physician staffing goals. The clinic is managing its physician personnel and fulfilling medical service capacity, thus this consistency is good. The Nurse Practitioner FTE is steady at 3.0, meeting budget. This shows that the clinic has maintained its nurse practitioner staffing levels, ensuring workforce stability.
2. The number of encounters, both new and established:
2. Answer: June 2018 interactions were 309, falling short of budget. However, the clinic maintains near to its aim due to the little fluctuation. Existing patients' interactions surpassed the budget by 16, indicating increasing demand. Unfortunately, new patient encounters dropped 7. HealthWays must determine why new patient visits vary to continue growth and outreach.
3. Non-personnel expenses:
3. Answer: Non-personnel expenditures were $755 below budget, showing the clinic spent less. Effective cost management or supplier agreements may have improved the clinic's finances.
4.Total expenses:
4. Answer: June 2018 health center costs were $1,843 below budget. Overall cost reductions may come from personnel and non-personnel expenses.
II. If these trends continue, what could it mean for HealthWays? What strategies might they employ to address any issues your analysis suggests?
Answer: If the trends continue: Positive trends: Stable FTEs, decreasing non-personnel spending, and below-budget total expenses suggest solid financial management. The clinic may keep running smoothly. Concerns: The decrease in new patient contacts may indicate a need for marketing or outreach. Strategies for HealthWays: Create marketing methods to attract new patients. This might entail community engagement, web marketing, or healthcare-provider relationships. Monitor and optimize non-personnel spending to be cost-effective. Financial Planning: Despite encouraging developments, HealthWays should routinely assess and adapt its budget. This enables long-term financial sustainability. Overall Recommendations: Keep track of patient demographics and adapt services to community requirements. Increase efficiency and save expenses by investing in technology and processes. Explore relationships with other healthcare providers to increase services and attract more patients.