HCS 405 Week 1 Health Care Financial Terms and Financial Statements
HCS 405 Week 1 Health Care Financial Terms and Financial Statements
Resource: pp. 10 to 11 in Healthcare Finance: An Introduction to Accounting & Financial Management (6th ed.)
Complete the Health Care Financial Terms and Financial Statements worksheet.
Click the Assignment Files tab to submit your assignment.
Health Care Financial Terms and Statements
Understanding health care financial terms and statements is a prerequisite for academic and professional success. This assignment is intended to ensure you understand some of the basic terms and statements used.
Complete parts A and B of this worksheet.
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Save the completed worksheet as a Microsoft® Word document with your name in the file name to your computer desktop.
Click the Assignment Files tab to submit your assignment.
Part A:
Complete the table below according to the following guidelines:
In the space provided, write the definition for each term as used in health care management. You must define the term using your own words.
In the space provided after each definition, summarize a health care management scenario that illustrates the importance of the skill, concept, procedure, or tool that the term refers to in 125 to 150 words. In the scenario, you may wish to consider the following:
o Why is the skill, concept, procedure, or tool necessary for accurate record-keeping, operational efficiency, excellent patient services, employee management, regulatory compliance, reducing costs, forecasting, etc.?
o What successes are enabled by an adequate understanding or appropriate application of the skill, concept, procedure, or tool?
o What risks or failures are associated with an inadequate understanding or inappropriate application of the skill, concept, procedure, or tool?
Term Definition Scenario
Controlling
Decision-
making
Organizing
Planning
Original
records
Revenue cycle
Payer mix
Revenue
Capital expenditure budget
Direct cost
Flexible budget
Operating budget
Responsibility center
Forecast
Full-time equivalents
Noncontrollable expenses
Nonproductive time
Staffing
Situational analysis
SWOT analysis
Part B:
Resources:
Complete the table below.
In 100 to 125 words, identify the purpose of the financial statement listed and provide an example of how the statement is used.
Financial Statement Purpose of Statement Example of Use
Balance sheet
Income statement
Operating budget
As we begin this session, I would like to take this opportunity to clarify my expectations for this course:
Please note that GCU Online weeks run from Thursday (Day 1) through Wednesday (Day 7).
Course Room Etiquette:
- It is my expectation that all learners will respect the thoughts and ideas presented in the discussions.
- All postings should be presented in a respectful, professional manner. Remember – different points of view add richness and depth to the course!
Office Hours:
- My office hours vary so feel free to shoot me an email at Kelly.[email protected] or my office phone is 602.639.6517 and I will get back to you within one business day or as soon as possible.
- Phone appointments can be scheduled as well. Send me an email and the best time to call you, along with your phone number to make an appointment.
- I welcome all inquiries and questions as we spend this term together. My preference is that everyone utilizes the Questions to Instructor forum. In the event your question is of a personal nature, please feel free to post in the Individual Questions for Instructor forum I will respond to all posts or emails within 24 or sooner.
Late Policy and Grading Policy
Discussion questions:
- I do not mark off for late DQ’s.
- I would rather you take the time to read the materials and respond to the DQ’s in a scholarly way, demonstrating your understanding of the materials.
- I will not accept any DQ submissions after day 7, 11:59 PM (AZ Time) of the week.
- Individual written assignments – due by 11:59 PM AZ Time Zone on the due dates indicated for each class deliverable.
Assignments:
- Assignments turned in after their specified due dates are subject to a late penalty of -10%, each day late, of the available credit. Please refer to the student academic handbook and GCU policy.
- Any activity or assignment submitted after the due date will be subject to GCU’s late policy
- Extenuating circumstances may justify exceptions, which are at my sole discretion. If an extenuating circumstance should arise, please contact me privately as soon as possible.
- No assignments can be accepted for grading after midnight on the final day of class.
- All assignments will be graded in accordance with the Assignment Grading Rubrics
Participation
- Participation in each week’s Discussion Board forum accounts for a large percentage of your final grade in this course.
- Please review the Course Syllabus for a comprehensive overview of course deliverables and the value associated with each.
- It is my expectation that each of you will substantially contribute to the course discussion forums and respond to the posts of at least three other learners.
- A substantive post should be at least 200 words. Responses such as “great posts” or “I agree” do not meet the active engagement expectation.
- Please feel free to draw on personal examples as you develop your responses to the Discussion Questions but you do need to demonstrate your understanding of the materials.
- I do expect outside sources as well as class materials to formulate your post.
- APA format is not necessary for DQ responses, but I do expect a proper citation for references.
- Please use peer-related journals found through the GCU library and/or class materials to formulate your answers. Do not try to “Google” DQ’s as I am looking for class materials and examples from the weekly materials.
- I will not accept responses that are from Wikipedia, Business dictionary.com, or other popular business websites. You will not receive credit for generic web searches – this does not demonstrate graduate-level research.
- Stay away from the use of personal pronouns when writing. As a graduate student, you are expected to write based on research and gathering of facts. Demonstrating your understanding of the materials is what you will be graded on. You will be marked down for lack of evidence to support your ideas.
Plagiarism
- Plagiarism is the act of claiming credit for another’s work, accomplishments, or ideas without appropriate acknowledgment of the source of the information by including in-text citations and references.
- This course requires the utilization of APA format for all course deliverables as noted in the course syllabus.
- Whether this happens deliberately or inadvertently, whenever plagiarism has occurred, you have committed a Code of Conduct violation.
- Please review your LopesWrite report prior to final submission.
- Every act of plagiarism, no matter the severity, must be reported to the GCU administration (this includes your DQ’s, posts to your peers, and your papers).
Plagiarism includes:
- Representing the ideas, expressions, or materials of another without due credit.
- Paraphrasing or condensing ideas from another person’s work without proper citation and referencing.
- Failing to document direct quotations without proper citation and referencing.
- Depending upon the amount, severity, and frequency of the plagiarism that is committed, students may receive in-class penalties that range from coaching (for a minor omission), -20% grade penalties for resubmission, or zero credit for a specific assignment. University-level penalties may also occur, including suspension or even expulsion from the University.
- If you are at all uncertain about what constitutes plagiarism, you should review the resources available in the Student Success Center. Also, please review the University’s policies about plagiarism which are covered in more detail in the GCU Catalog and the Student Handbook.
- We will be utilizing the GCU APA Style Guide 7th edition located in the Student Success Center > The Writing Center for all course deliverables.
LopesWrite
- All course assignments must be uploaded to the specific Module Assignment Drop Box, and also submitted to LopesWrite every week.
- Please ensure that your assignment is uploaded to both locations under the Assignments DropBox. Detailed instructions for using LopesWrite are located in the Student Success Center.
Assignment Submissions
- Please note that Microsoft Office is the software requirement at GCU.
- I can open Word files or any file that is saved with a .rtf (Rich Text Format) extension. I am unable to open .wps files.
- If you are using a “.wps” word processor, please save your files using the .rtf extension that is available from the drop-down box before uploading your files to the Assignment Drop Box.
Grade of Incomplete
- The final grade of Incomplete is granted at the discretion of the instructor; however, students must meet certain specific criteria before this grade accommodation is even possible to consider.
- The grade of Incomplete is reserved for times when students experience a serious extenuating circumstance or a crisis during the last week of class which prevents the completion of course requirements before the close of the grading period. Students also must pass the course at the time the request is made.
- Please contact me personally if you are having difficulties in meeting course requirements or class deadlines during our time together. In addition, if you are experiencing personal challenges or difficulties, it is best to contact the Academic Counselor so that you can discuss the options that might be available to you, as well as each option’s academic and financial repercussions.
Grade Disputes
- If you have any questions about a grade you have earned on an individual assignment or activity, please get in touch with me personally for further clarification.
- While I have made every attempt to grade you fairly, on occasion a misunderstanding may occur, so please allow me the opportunity to learn your perspective if you believe this has occurred. Together, we should be able to resolve grading issues on individual assignments.
- However, after we have discussed individual assignments’ point scores, if you still believe that the final grade you have earned at the end of the course is not commensurate with the quality of work you produced for this class, there is a formal Grade Grievance procedure which is outlined in the GCU Catalog and Student Handbook.
HCS 405 Week 1 Health Care Financial Terms and Financial Statements Grading Rubric
Performance Category | 100% or highest level of performance
100% 16 points |
Very good or high level of performance
88% 14 points |
Acceptable level of performance
81% 13 points |
Inadequate demonstration of expectations
68% 11 points |
Deficient level of performance
56% 9 points
|
Failing level
of performance 55% or less 0 points |
Total Points Possible= 50 | 16 Points | 14 Points | 13 Points | 11 Points | 9 Points | 0 Points |
Scholarliness
Demonstrates achievement of scholarly inquiry for professional and academic topics. |
Presentation of information was exceptional and included all of the following elements:
|
Presentation of information was good, but was superficial in places and included all of the following elements:
|
Presentation of information was minimally demonstrated in all of the following elements:
|
Presentation of information is unsatisfactory in one of the following elements:
|
Presentation of information is unsatisfactory in two of the following elements:
|
Presentation of information is unsatisfactory in three or more of the following elements
|
16 Points | 14 Points | 13 Points | 11 Points | 9 Points | 0 Points | |
Application of Course Knowledge
Demonstrate the ability to analyze and apply principles, knowledge and information learned in the outside readings and relate them to real-life professional situations |
Presentation of information was exceptional and included all of the following elements:
|
Presentation of information was good, but was superficial in places and included all of the following elements:
|
Presentation of information was minimally demonstrated in the all of the following elements:
|
Presentation of information is unsatisfactory in one of the following elements:
|
Presentation of information is unsatisfactory in two of the following elements:
|
Presentation of information is unsatisfactory in three of the following elements
|
10 Points | 9 Points | 6 Points | 0 Points | |||
Interactive Dialogue
Initial post should be a minimum of 300 words (references do not count toward word count) The peer and instructor responses must be a minimum of 150 words each (references do not count toward word count) Responses are substantive and relate to the topic. |
Demonstrated all of the following:
|
Demonstrated 3 of the following:
|
Demonstrated 2 of the following:
|
Demonstrated 1 or less of the following:
|
||
8 Points | 7 Points | 6 Points | 5 Points | 4 Points | 0 Points | |
Grammar, Syntax, APA
Points deducted for improper grammar, syntax and APA style of writing. The source of information is the APA Manual 6th Edition Error is defined to be a unique APA error. Same type of error is only counted as one error. |
The following was present:
AND
AND
|
The following was present:
AND/OR
AND/OR
|
The following was present:
AND/OR
AND/OR
|
The following was present:
AND/OR
AND/OR
|
The following was present:
AND/OR
AND/OR
AND/OR
|
The following was present:
AND/OR
AND/OR
|
0 Points Deducted | 5 Points Lost | |||||
Participation
Requirements |
Demonstrated the following:
|
Failed to demonstrate the following:
|
||||
0 Points Lost | 5 Points Lost | |||||
Due Date Requirements | Demonstrated all of the following:
A minimum of one peer and one instructor responses are to be posted within the course no later than Sunday, 11:59 pm MT. |
Demonstrates one or less of the following.
A minimum of one peer and one instructor responses are to be posted within the course no later than Sunday, 11:59 pm MT. |