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Organizations can experience crises due to changes in economic conditions. In an economic downturn where individuals lose their jobs, many also lose their medical insurance coverage. With fewer employees on the payroll, states receive less revenue from taxes and thus have less money to pay for Medicaid and other services. This compounds the problem of healthcare funding. Hospitals lose out on high-margin procedures and, at the same time, see an increase in charity care in less profitable areas of the hospital.
This assignment requires you to analyze the SMH data and develop a strategic plan that can be used in the event of a financial crisis. For your discussion, you will consider the following two scenarios:
In your strategic plan, include the operating and capital requirements the organization would need in order to navigate the crisis.
Write a 3- to 5-page report in Word format. All written assignments and responses should follow APA rules for attributing sources.
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