Health sector to facilitate development

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Reference no: EM133598025

Question

The financial managment component of this unit explores specific financial concepts and tools as applied to the health sector to facilitate development of an understanding of the financial realities facing health services organisations.

The topic for this assignment is to apply the knowledge gained to a business case to support opening a small primary care practice/clinic in a region/country of your choice. The primary care practice can be for general practice, allied health services, dental practice, or any other type of primary care practice. Specify the proposed location of the practice and whether it is in the public or private sector, if the latter, for-profit or not-for-profit.

You are required to) a narrative summary ) providing a rationale for opening the primary care practice, explaining any assumptions and discussing the financial analysis (see iii below) (ii) a statistical analysis that provides the numbers on which the budgets are based and (iii) a financial analysis comprising an operating budget and capital budget for the first year. The words and numbers in your operating and capital budgets are not included in the word count.

As many sources as possible should be provided for all information presented.

The business case should address the following questions/issues:

On what basis are you advocating for the primary care practice to be opened? What is its proposed location and why? Is it in the public or private sector, if the latter, for profit or not for profit? What activities or programs will the practice provide? Who is the target population for the practice?

How many staff positions will be required to run these activities or programs (please justify)? How much, how (hourly wages, salary, consultant fees, benefits), and from what sources will those staff members be compensated?

What else will be needed to run the organization and its activities -- space, supplies, equipment, phone and utilities, insurance, transportation, etc.? Distinguish between operational and capital items.

What are the budgeted expenses for the organization in the first year of operation?

What is the budgeted income and other revenue in the first year of operation?

Based on the above information, prepare an argument to support opening the practice.

Reference no: EM133598025

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