15 Nov Assignment: Capital budget proposals Assignment: Capital budget proposals Classmates have presented their capital budget proposals and you are responsible for r
Assignment: Capital budget proposals
Assignment: Capital budget proposals
Classmates have presented their capital budget proposals and you are responsible for reviewing the proposals and providing feedback about each one. Review at least two classmates’ presentations. State whether you would approve their proposal and why you would or would not. Regardless of how you decided, use the critical elements located in the Final Project Rubric to identify specific strengths and opportunities for improvement in their proposal.
Classmates Stephanie and Margaret power point attached below. Please respond separately to bother power point proposals using rubric attached below as well
Venice Family Clinic started in 1970 by Philip Rossman, MD (founder) and Mayer B. Davidson, MD (co-founder) in a borrowed storefront dental office
Venice Family Center (VFC) a non-profit, private, community-based clinic including: 12 locations, 370 staff members and 1,371 volunteers
Provides comprehensive services including primary care, behavioral health services, dental and vision care
75% of clientele live below poverty line and 16% are homeless
Venice Family Clinic (VFC) is a community health facility that provides health care to those people in need (i.e. homeless and/or low-income). Currently 75% of the clientele treated by VFC live below the poverty line and about 16% are homeless. The present comprehensive services provide specialized treatment in various specialties, but their current Street Medicine program is diversified and an area of growth and progress.
2Assignment: Capital budget proposals
Financial Status of the Organization
VFC’s current ratio for 2018 is 22.05. Current assets ($24,286,070) ÷ current liabilities (1,101,514).
VFC’s 2017 ratio = 14.93 (18,078,363 ÷ 1,210,695). Increase in the ratio shows financial stability and growth.
Revenue: insurance reimbursements, grants, donations, and additional subsidized by state and federal resources.
Largest portion of reimbursements received from “third-party” vendors and grants.
Improvement in care associated to the increase in assets from 2017 to 2018 of $6 million.
Reduction in liabilities total $359,000
Based upon the annual report from 2018 the acknowledged current ratio from 2017 to 2018 shows a growth from 14.93 to 22.05. These numbers reflect financial stability within the organization and growth/progress. Primary reimbursement received from “third-party” vendors with additional revenue acquired from grants , donations, scholarships, and federal/state subsidizing.
Current Healthcare Trends
There are various healthcare trends impacting the operations of many healthcare organizations. First and foremost technology has affected how information is collected, organized, and then disseminated within any healthcare organization. Using technology to provide access to the impoverished and homeless population is now readily available through mobile medical clinics and now mobile radiology units. Using state-of-the-art equipment we can now receive test results quickly and efficiently and reduce duplication of orders. Another trend that influenced healthcare is the transition to “value-based purchasing” not only in hospitals but also smaller clinics and private practices. Providing care and services based upon quality instead of quantity has affected healthcare outcomes. Access to mobile units can decrease the risk of health complications for at-risk populations and impact the health issues within the community.
Technology improves access to resources within the community.
Reduces duplication of ordering tests/labs.
Decreases time-frame for results processing and reporting
Value-based purchasing impacts the access and availability to testing
“Value-based programs, they are part of a larger government effort to pay providers for quality rather than quantity by providing better care for individuals, better health for populations, and lower cost” (Nowicki 2018, pg. 209)
Decreasing the risk of health complications for the homeless and poor communities can impact the health issues for society
Providing comprehensive health care that includes medical, dental, and mental health treatments for “pediatrics, general adult medicine, women’s, senior, homeless, and chronic care services” (VFC 2018)
Street Medicine program providing “house calls for people without a home.” Additional services to include mobile radiology services to the low income and homeless population will improve treatment options. (VFC 2018)
Most reimbursement received from Medicare/Medicaid and private health services (third-party payer) in addition to grants, scholarships, and financial aid which are impacted by government policies such as the Affordable Care Act which provides a large portion of our support. Current policy changes or repeal of the ACA would impact outpatient services such as radiologic testing Assignment: Capital budget proposalsAssignment: Capital budget proposals
“Increased numbers of uninsured patients, together with both the loss of Medicaid revenues associated with the Medicaid expansion and most federal grant funding, would be a severe financial shock to health centers and likely leave them unable to sustain their operations and capacity at current levels” (Rosenbaum, Paradise, Markus, Sharac, Tran, Reynolds, and Shin 2017)
Within VFC’s mission and vision “to improve the health of people and communities through accessible, quality care” (VFC 2018). Access to quality care improves the health and wellness of the community, but also increases rates of reimbursement. Reimbursement rates based upon specified quality care goals and diagnosis-related groups (DRGs) can be influenced by utilizing the current Street Medicine program and expanding on the services provided. Any changes to the government policies such as the Affordable Care Act (ACA) will impact any outpatient services VFC can provide. “Increased numbers of uninsured patients, together with both the loss of Medicaid revenues associated with the Medicaid expansion and most federal grant funding, would be a severe financial shock to health centers and likely leave them unable to sustain their operations and capacity at current levels” (Rosenbaum, Paradise, Markus, Sharac, Tran, Reynolds, and Shin 2017).
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