Prepare and present a research paper based on a significant healthcare management issue. ISSUE: You are the CEO of a 300-Bed hospital in Miami, Florida. Your Chief Financial Officer (CFO) has just informed you that Medicare has penalized your hospital just over $2 million dollars in the calendar year 2017 because your hospital has taken a significant number of readmissions (within 30 days of discharge) back to your hospital. You have learned that all penalties for these readmissions were related to 3 primary diagnoses: Congestive Heart Failure (CHF) – $600,000 Myocardial Infarction (Heart Attack) – $800,000 Pneumonia – $700,000 You have also learned that Medicare is increasing the penalty rate from 3% to 6% and the number of diagnoses from 3 to 6, beginning on January 1, 2019. Your board of directors are extremely upset over the situation as they now fear the hospital is in serious financial jeopardy due to these readmissions issues. In addition, the board of trustees is aware of the payment shift from fee-for-service billing to value-based care. They are VERY worried about how this will affect your hospital for two reasons. First, many of the board members work in other industries and are not sure what or why this is happening. Second, they need to understand how this major shift in reimbursement will affect the hospital operations and financial sustainability going forward. YOUR ASSIGNMENT: Your board of directors is demanding action in relation to these two issues! Many of the board members believe these issues are interrelated, but they are not quite sure. They have given you 90 days to create an operational strategic plan that address the following: 1) Please investigate (research) and define the parameters of each issue and how they relate to your hospital. 2) Do you think these two issues are related? If so, why and how? (you must use the extant literature to cite/reference your answers). 3) How will you deal with the internal issues within your hospital to address these two problems? (Some {but not all} of the questions you should be asking yourself are): a. What are the internal issues as you see them? b. How does this affect all of the departments within your hospital? c. How will you need to change your daily operations to address these issues? 4) How will you deal with the external issues within your hospital to address these two problems? (Some {but not all} of the questions you should be asking yourself are): a. What are the external issues as you see them? b. How do the external factors (over which you have no control) affect your hospital? i. Political ii. Technological iii. Social iv. Economic v. Regulatory c. How do these issues affect your non-employed physician staff? 5) What is your overall plan to deal with these issues over the next year? 6) Once your plan is approved by the board of What is your DETAILED (step-by-step) plan to handle these issues over the next 90 days? *MUST BE WRITTEN IN APA FORMAT
