ObjectivesAnalyze a case scenario on healthcare financial managementIdentify trends in the financial metrics of a healthcare organizationAssess potential strategies for their impact on the financial health of the organizationPropose $3$ recommendations with thorough explanations of how these recommendations can improve the financial health of the organization Scenario Overview:You are the Chief Financial Officer $($CFO$)$ of Riverview Hospital, a mid$-$sized facility $($about $250$ beds$)$ located in an economically challenged area. The hospital serves a diverse population, including a high percentage of uninsured and underinsured patients. The hospital is not$-$for$-$profit. Recently, you have faced significant challenges related to rising uncompensated care, increased bad debt, and pressures from third$-$party payment systems. In response, you need to consider strategies to address these issues while maintaining the hospitals financial health and commitment to community care. Some basic financial metrics are included below to assist you in making recommendations. Financial MetricsMetricFY $2021$FY $2022$FY $2023\%$ Change $(2021-2023)$Net Patient Service Revenue$$40,000,000$$$42,500,000$$$40,800,0002\%$Uncompensated Care$$6,000,000$$$8,000,000$$$12,000,000100\%$Bad Debt Expense$$3,000,000$$$4,000,000$$$5,500,00083\mathrm{.}3\%$Operating Expenses$$35,000,000$$$37,000,000$$$39,000,00011\mathrm{.}4\%$Total Charity Care Provided$$1,500,000$$$2,000,000$$$3,000,000100\%$Profit Margin$$5,000,000$$$3,500,000$$$(1,200,000)-124\%$Average Cost per Patient Day$$800$$$850$$$90012\mathrm{.}5\%$ Assignment Instructions:As the CFO of Riverview Hospital, write a concise report $(2-3$ pages double$-$spaced with $12$ point font$)$ that evaluates the current financial challenges and proposes strategic solutions. Your report should include the following components:Financial Analysis:Identity trends in the financial metrics and their potential implications for the organizationAnalyze the financial impact of rising uncompensated care and bad debt on Riverview Hospitals overall financial health. Discuss how these factors affect cash flow and budgeting.Strategic Recommendations:Propose $3$ actionable strategies to address the challenges of bad debt, cost$-$shifting, and third$-$party payment pressures. Consider strategies such as:Enhancing the charity care program through community partnerships.Implementing a financial counseling program for patients.Negotiating better reimbursement rates from third$-$party payers.Partnering with local employers to create tailored health clinics, wellness programs, or preventive service programs.Advocating for policy changes to address the uninsured rate in the stateFocusing on quality improvement projects to reduce potentially unnecessary admissions, inefficient processes, or inadequate resource utilizationJustify your recommendations with evidence or examples from similar healthcare organizations.

Conclusion:Summarize your key findings and recommendations, emphasizing the need to balance financial sustainability with the hospital's commitment to accessible care.