Discussion Question
Discussion Question
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Week 7 Discussion Question Strategic Planning Given the current state of affairs in Healthcare finance, what sorts of things do you need to take into account when developing a strategic plan that drives innovation? In other words, how do you build a plan to take your organization forward even when faced with a rapidly changing marketplace and an uncertain future? In crafting your response, address the following: • The value of data analytics for Healthcare organizations • How financial leaders can best capture and analyze this data to optimize outcomes • Provide specific examples of organizations that have used data to improve results • How you would monitor and evaluate the progress of your plan towards its objectives in the short and long term? Week 8 Discussion Question (Go with the 1st option) Capital Budgeting Capital projects for Healthcare organizations are inherently risky. In addition to the significant investment at stake, organizations also put their reputations on the line when they take on major, multiyear, capital-intensive projects. • How do those responsible for developing and managing capital budgets ensure that they are adequately preparing for as many uncertainties as possible, and that the budget will be appropriate to support the strategic initiatives of the organization? As part of your response, share an example of either: o Your experience in helping to develop a capital budget, explaining the scope of the project, the budgeting process and the outcome. OR o The story of a capital-intensive project undertaken by a Healthcare provider reported in the Wall Street Journal or other reputable Healthcare news source that went significantly over budget or did not generate the promised returns after completion. What caused the budget to miss the mark? What could have been done differently to change the outcome of the project.
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