Case Study Team Charter<\/p>\n
Case Study Name: We Care Medical Center: Allocating Costs
\nTeam Presentation Goals:
\nDetermine best allocation to receive the greatest benefit from a financial and customer standpoint.
\nReview of financial statements to ensure align with existing practices, financial goals, and organization\u2019s mission statement.
\nBenefits gained outweigh the associated risks fully detailed and explained to eliminate concerns brought by the community and Board of Directors.
\nTransparency to the community which the facility supports.<\/p>\n
Membership:
\nResearch: All members will equally participate with researching material for the case study.
\nPresentation: Tammy Alsman has been selected to facilitate the presentation in Week 5 to the class with input from team members.
\nSubject Matter Expert (s): Connie, Renee, and Lisa will also participate and present as experts in the case study selected.
\nMember Roles \/ Obligations:
\nTo attend and engage in meetings as scheduled.
\nPerform necessary research covering the specific objectives and goals.<\/p>\n
Core Issues in Case Study:
\nNot-for-profit: transparency to community.
\nNew orthopedic location due to routine care unit expanding absorbing now 50,000 sq feet into the existing orth unit.
\nBuilding new space to accommodate existing census while planning for future expansion in new complex design: for which there is no guarantee.
\nNot-for-profit organization: 0% eco development loan: $187,000 payments over 20 years: staying on target with build, generating revenue to support additional monthly payments during construction, while continuing current business plan.
\nMaintaining existing bonus structure with CFO cost allocation concerns for new build.<\/p>\n
Objectives:
\nDescribe the allocation process between the routine care and orthopedic care departments to determine net income post build and move.
\nWhich allocation method is most appropriate to maintain sufficient net income to maintain direct and indirect expenses including current bonus payouts and future growth-related expenses (additional staffing and training for example).
\nPresent research to Board for approval with sufficient evidence to support expansion.<\/p>\n
Strategic Implications:
\nLack understanding of allocation methods to determine most appropriate to realize most gain.
\nUnderstanding the up-front costs associated with build and move is an investment back into the business which in turn will build more profit over time.
\nLoss of revenue due to reduced orthopedic space.
\nLack of marketing of new growth and treatment opportunities.
\nLack of community and\/or Board support.<\/p>\n
Scope:<\/p>\n
Key Interfaces:
\nFinance \u2013 Revenue versus Square Footage Methods: which is better financial choice.
\nRisk Management \u2013 managing risks to realize additional revenue generated.
\nHR \u2013 Managing staff, training for future growth.
\nOperations \u2013 CFO current cost allocation algorithms, indirect and direct expense monitoring.<\/p>\n
Deliverables and Milestones:
\nKey Activities:
\nBenefits Gained by Solving the Problem:
\nFinancial:
\nProcess \/ Operations
\nOther \u2013 Non-financial or intangible:
\nCritical Success Factors in this Case Study:
\nKey Performance Measures in this Case Study:<\/p>\n
____________________________
\nCase Study Team Charter<\/p>\n
Case Study Name: We Care Medical Center: Allocating Costs<\/p>\n
Introduction:
\nIn this case study, our team aims to determine the best allocation method for We Care Medical Center to optimize financial benefits while ensuring customer satisfaction. We will review the financial statements to align them with the organization’s mission and goals. By providing transparency to the community, the facility can garner support from the community and the Board of Directors.<\/p>\n
Team Composition and Roles:
\nOur team comprises dedicated members, each with unique roles and responsibilities. All team members will actively participate in the research process. Tammy Alsman will lead the presentation during Week 5, incorporating inputs from all team members. Additionally, Connie, Renee, and Lisa will serve as subject matter experts during the presentation.<\/p>\n
Core Issues:<\/p>\n
Not-for-profit Transparency: We Care Medical Center needs to ensure transparency with the community about its financial practices.
\nNew Orthopedic Location: The expansion of the routine care unit will involve allocating 50,000 sq feet to the existing orthopedic unit. The construction of new space must accommodate the current census and plan for future growth.
\nFinancial Management: The medical center has secured a 0% eco development loan amounting to $187,000, repayable over 20 years. The challenge lies in staying on target with the construction, generating revenue to cover additional monthly payments during construction, and adhering to the current business plan.
\nCFO Cost Allocation Concerns: The existing bonus structure must be maintained despite the cost allocation challenges arising from the new build.
\nObjectives:<\/p>\n
Allocation Process Description: We aim to outline the allocation process between the routine care and orthopedic care departments to determine the net income post-build and move.
\nAppropriate Allocation Method: We will identify the most suitable allocation method that ensures sufficient net income to cover direct and indirect expenses, including current bonus payouts and future growth-related costs (such as additional staffing and training).
\nBoard Approval: Our research and evidence-based findings will be presented to the Board for approval to support the planned expansion.
\nStrategic Implications:<\/p>\n
Allocation Method Understanding: Lack of understanding of various allocation methods hinders the medical center from maximizing its gains.
\nUp-front Investment: The costs associated with the build and move represent a valuable investment into the business, leading to long-term profitability.
\nRevenue Loss: Failure to effectively manage the allocation and space utilization might result in a loss of revenue from reduced orthopedic space.
\nMarketing and Community Support: Inadequate marketing of new growth opportunities and treatment options, coupled with a lack of community and Board support, could hinder the center’s expansion efforts.
\nScope and Key Interfaces:
\nOur study will encompass financial, operational, and non-financial aspects relevant to the allocation process. Key interfaces include Finance (to evaluate revenue versus square footage methods), Risk Management (to manage risks and realize additional revenue), HR (to manage staff and plan for future growth through training), and Operations (to monitor CFO cost allocation algorithms and direct and indirect expenses).<\/p>\n
Deliverables and Milestones:
\nThroughout the project, we will produce comprehensive research reports, financial analyses, and presentation materials to facilitate the decision-making process. Key milestones include completion of the allocation process description, identification of the most appropriate allocation method, and approval from the Board.<\/p>\n
Benefits Gained by Solving the Problem:
\nFinancial Benefits:<\/p>\n
Improved net income and profitability.
\nEfficient resource allocation leading to cost savings.
\nIncreased revenue generation potential.
\nProcess \/ Operations Benefits:<\/p>\n
Streamlined allocation process promoting transparency.
\nBetter resource management and utilization.
\nEnhanced operational efficiency.
\nOther Non-financial or Intangible Benefits:<\/p>\n
Strengthened community and Board support.
\nImproved reputation as a transparent and customer-oriented medical center.
\nLong-term sustainability and growth opportunities.
\nCritical Success Factors:<\/p>\n
Thorough research and analysis of allocation methods.
\nEffective communication and collaboration within the team.
\nStrong support from the Board and community.
\nKey Performance Measures:<\/p>\n
Net income and revenue growth post-implementation.
\nCustomer satisfaction and feedback.
\nTimely completion of milestones and deliverables.
\nReferences:<\/p>\n","protected":false},"excerpt":{"rendered":"
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