Financial Analyst Interview at a Local Hospital Essay

Managing financial operations within a healthcare facility is one of the jobs that are not related directly to addressing patients’ needs yet are critical to the functioning of a facility. In an interview with M., who is a Financial Analyst at a local hospital, a range of factors that affect M.’s performance and the allocation of the facility’s financial assets came into light. Particularly, the interview has shown that there is a need to introduce a coherent framework for examining the issues that define the number of expenses that a hospital faces, such as hospital bills coverage.

Moreover, the interview results indicate that hospitals experience significant pressure due to the necessity to reduce costs, at the same time keeping the quality of services high. Therefore, a sustainable approach toward managing finances within the healthcare system is required.Financial Analyst Interview at a Local Hospital Essay

According to the responses of M., the Patient Protection and Affordable Care Act (PPACA) affects the organization and its financial processes to the greatest extent. Because of the necessity to provide reimbursements in accordance with the principles set by Medicaid, hospitals face significant challenges in maintaining the quality of care consistent. In new taxes, PPACA has led to immense costs due to the rise in the taxes for individuals (Auerbach, Heaton, ‎& Brantley, 2014). The specified trend is a reason for major concern for FAs in a range of small healthcare facilities nowadays, according to the respondent.

The interview results also indicate that M., would change the current policy regarding the management of disadvantaged and remote communities’ needs. While being present, they do not provide enough resources for assisting people that do not have immediate access to care. As a result, a significant amount of hospital resources is misallocated since it could be used to help the specified demographic.Financial Analyst Interview at a Local Hospital Essay

However, the respondent also admitted that there were some policies that would help them to improve their job, including both environment and the performance levels. For example, the opportunity for doctors and healthcare organizations to charge their patients separately allows avoiding a range of confusions and can be seen as a generally positive financial policy in the modern healthcare. In addition, it is desirable to introduce the policies that will allow making the cash flow consistent and sufficient for the hospital’s needs.Financial Analyst Interview at a Local Hospital Essay

Moreover, the adoption of the specified financial policies will allow a healthcare facility to implement a shared risk model, which will offer more chances for cutting costs (Leger & Dunham-Taylor, 2017). Thus, an FA will contribute to the design of financially sound and sustainable strategies.