The purpose of this assignment is to evaluate the impact of a financial analysis on administrative decisions in a health care organization. Review Northwestern Memorial HealthCare's "Consolidated Financial Report" (Years Ended August 31, 2019 and 2018), and answer the following prompts. Discuss the importance of and need for a financial analysis within a health care organization. Explain the relationship between a health care organization's financial plan and debt policy to its strategic plan. Assess the financial position of Northwestern Memorial HealthCare in 2019 as compared to 2018. Give specific examples of areas where improvement is needed or areas that should be of concern in terms of financial viability. Based upon these observations, make recommendations that management should consider from a strategic standpoint (i.e., strategic budgeting methods).
The purpose of this assignment is to evaluate the impact of a financial analysis on administrative decisions in a health care organization. Review Northwestern Memorial HealthCare's "Consolidated Financial Report" (Years Ended August 31, 2019 and 2018), and answer the following prompts.
Discuss the importance of and need for a financial analysis within a health care organization.
Explain the relationship between a health care organization's financial plan and debt policy to its strategic plan.
Assess the financial position of Northwestern Memorial HealthCare in 2019 as compared to 2018.
Give specific examples of areas where improvement is needed or areas that should be of concern in terms of financial viability.
Based upon these observations, make recommendations that management should consider from a strategic standpoint (i.e., strategic budgeting methods).
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