| Category |
Assignment |
Subject |
Management |
| University |
University Of Chester |
Module Title |
BU7067 Managing Finance in Healthcare Organisations |
Assessment Task
This assessment comprises a portfolio approach to demonstrate achievement of the module learning outcomes.
The portfolio must include the following sections:
Part 1 Case Study report
Task 1: Critical Analysis of Financial and Non-Financial Performance, Challenges, and Recommendations
Choose one of the provided organisations.
- Interpret ratio analysis for the past three years using a selection of predefined financial ratios, covering:
o Liquidity ratios: Evaluate short-term financial health
o Profitability ratios: Assess the organisation's profitability
o Efficiency Ratios: Examine how effectively the organisation uses its assets to generate earnings.
o Capital Structure Ratios: Examine how the capital of the organisation is structured
- Identify and justify the relevant non-financial indicators and interpretations: utilise qualitative measures such as patient satisfaction and quality of care metrics (e.g., readmission rates, infection rates, mortality rates, etc.) to analyse the organisational performance that influence the financial decisions made in the selected organisation.
- Apply a SWOT analysis as your framework: Use SWOT analysis to analyse the strengths, weaknesses, challenges, and opportunities derived from your financial and non-financial analysis. Link these elements critically to the organisation's strategic goals to assess its competitive position:
o Strengths and Weaknesses: From your financial ratio analysis and non-financial indicators.
o Opportunities and Challenges: Based on current financial performance and external environmental factors, outline potential areas for improvement and growth.
- Provide specific, actionable recommendations for actions that the organization’s board should consider to address these challenges and leverage opportunities.
Task 2: Comparative Analysis
- Compare the relevant financial management practices of your chosen organisation with either UK healthcare organization in the UK – University Hospitals Morecombe Bay Trust (NHS) or Bupa Dental care (Oasis). Focus specifically on one or two of the following aspects: funding sources, governance and performance, budgeting and cost control, financial reporting, risk management, and auditing. Provide a thorough, in-depth analysis of these selected practices comparing your chosen case study with one of the UK organisations.
- Specifically, discuss how the financial systems in both countries impact the quality of care and delivery of healthcare services. Consider experiences such as the accessibility and affordability of healthcare, the efficiency of healthcare services, and the role of government funding or insurance systems
- Apply PESTEL analysis to understand how socio-cultural, regulatory, and economic factors affect the selected financial management practices and their impact on service delivery and financial decision- making. Focus on the how these factors have evolved over the last three years.
Part 2 – Critical reflection
Task 1: Contribution and Feedback Reflection
Using a recognised reflection model, e.g Gibbs’ reflective cycle (1988) reflect on the contribution you made to the group presentation with your formative presentation action log and the formative feedback you received from the presentation as evidence.
Task 2: Future Professional Practice and Action Plan
- Reflect on how the module can assist you in your future professional practice in healthcare management.
- Specify your future career goal and formulate a specific action plan outlining steps you will take to apply what you’ve learned in your future career.
Learning Outcomes
This assignment will show that you are able to:
- Demonstrate understanding of the key financial management concepts in health and social care;
- Critically analyse financial statements and budgets in health and social care organisation;
- Identify the sources of funding for health and social care services;
- Develop financial strategies and plans for health and social care organisations with awareness of risks and opportunities;
- Explain the impact of financial decisions on the quality of care delivered.
