DHA 8007 Discussion 2 Week 10

Week 10 DQ 2

The course has provided me with a chance to acquire things I would be able to apply at both a personal and professional level. Break-even analysis, cost-benefit analysis, and ratio analysis are some of the most important subjects to my practice as a manager in health care. Learning about the steps of determining the break-even point and the cost-benefit ratio will also allow me to make decisions in the analysis of new projects or services in a manner that resources will be used properly, and the returns on investments will be positive. An example is that accounts receivable is learning how to maximize the amount of revenue I have been collecting, and it could be applicable to maximize cash flows in a healthcare environment. Moreover, knowing how the accounts are going to be managed would enable any potential financial problems to be prevented, and the organization to maintain a healthy financial position.

I have acquired information in the areas of medicine and Medicare and Medicaid programs, which are crucial in learning to work with a reimbursement system and to match services with government programs. Being aware of this will help me to understand the financial planning of organizations better in order to align with the regulations and emerge profitable. The contents of the Affordable Care Act (ACA) will keep me informed of the latest developments in policy modifications that impact health finance. I will therefore be able to apply the knowledge to develop strategies that are consistent with ACA provisions, particularly relating to lowering costs and enhancing quality. Personally, concepts of financial analysis, such as ratio analysis, will help me in managing my finances. Knowledge of such tools will help me to evaluate investments and budget my money better. Generally, this course has furnished me with requisite skills in making good financial decisions, whether at the workplace or on a personal level.