Assignment: Operational Basics for Financial Management
This section will review the details of operationalizing the healthcare finance information in an assisted living operation. The information will review:
Financial Records
Accounts Receivable
Accounts Payable
Risk Management
Reading:
Gapenski’s Textbook:
Chapter 7 – pages 184 – 205
Chapter 11 – pages 319 – 344
Chapter 12 – pages 350 – 377
Chapter 13 – pages 382 – 400
YouTube Video:
Can You Pay for Assisted Living with Medicaid and Medicare (Web view)
https://www.youtube.com/watch?v=WJvRgcXc4GU (Web view)
Optional Reading:
Chapter 4 (pages 119 – 125) (127 – 130)“The Health Services Executive (HSE) – Olson, DM; Knapp, KR (2020)
Chapter 10 (pages 136 -172) – “Assisted Living Administration and Management – Yee-Melichar, D; Flores, C.; Boyler, AR (2021)
Assignment. Write a paper the responses to the items noted below. The paper can include other outside references, including the assigned textbook.
Describe the role of the following reports for managing an assisted living facility:
Monthly financial statement
Monthly accounts receivable aging report
Check registers
Payroll journal
What are the differences between the following:
Balance Sheet
Income Statement
Cash flow statement
What are the roles of the following positions in preventing losses of assets:
External auditors
Facility Bookkeeper
Corporate Chief Financial Officer
Assisted Living Director
