Financial Forecasting and Data Analysis Summary

You have been promoted to a member of the management team in Krona’s financial department. You have hired a new staff member who will assist you in preparing materials for the next Board of Directors meeting, in which the annual financial reports will be presented. Complete the following: • Prepare an Executive Summary to the next Board of Director Meeting on one of the following topics: Discuss why a service line of your choice should be discontinued due to reimbursement and current demographic trend in your area. Discuss how past financial performance and trends lead to either a continued decline or an improvement in performance based on the information in the trends. Discuss how weaknesses found in an organization’s financial statements can place them in violation of the Generally Accepted Accounting Principles (GAAP) and why organizations should improve adherence to GAAP guidelines. Discuss why a service line should be implemented to increase revenue based on reimbursement changes and current demographic trend in your area. Discuss why the expansion of outpatient services will improve revenue in the current Accountable Care Organization or Value-Based Service models delineated by CMS. Reference: Health Care Finance: Basic Tools for Nonfinancial Managers by Baker, Baker