Reference no: EM133913876

Question: Prepare a presentation for new hire orientation that addresses the organization's three types of revenue sources: Medicaid, Medicare, and managed care. For each revenue source, explain the purpose of the program, how the organization is reimbursed, and the benefits of the program. Get top-rated assignment help now.

Introduction: Note: The assessments in this course build upon each other, so you are strongly encouraged to complete them in sequence.

Healthcare finance has changed dramatically with the advent of the Affordable Care Act (ACA) in 2010. Its effects continue to impact organizations and individuals. The healthcare industry has transitioned to a unique and complex entity as a result of the ACA's legal and regulatory ramifications. The shift in delivery systems requires healthcare leaders to possess new skill sets (Office of the Legislative Counsel, 2010).

Healthcare leaders at all levels within an organization must be comfortable with financial statements and basic accounting principles. As an early careerist, you may be involved in conversation to evaluate existing and new healthcare service lines. You may be asked to participate in various financial activities, such as team budgeting activities and development of a departmental budget. As a mid or advanced careerist, you may be evaluating higher-level organization financing options, determining cash flow needs, or presenting financial information to the CEO and board.

Finally, one of the number one things that you will do as a healthcare leader is manage expenses. There are many variables to managing expenses in healthcare, from managing fixed assets, payroll and capital expenses. You will look at the classifications of expenses and costs, and review depreciation and how that is calculated. You will also review the difference between variable and fixed costs in healthcare and how those can be managed effectively.