You are the new administrator of the Miami Medical Group, a 50 physician multi-specialty group practice. You have 10 years of industry experience and an MHA from FAU. The physicians in the group have always been very conservative in dealing with the groups finances. In the past, the group has never kept extra money in the bank but has distributed it to the doctors. As the group has grown over the past few years, younger physicians have decided to make changes and update their business practices. The younger physicians now control the Board of Directors. You have asked by the board chairman to design a cash management program that will benefit the practice but keep the older doctors pacified.

The Miami Medical Group occupies a 15,000 square foot building, which houses the majority of the physicians and all of the ancillary services. The group also operates 35,000 square foot practices geographically dispersed throughout Miamis various ethnic communities. The group generates $20,000,000 per year in revenue with 69% operating expenses.

Issues

As you begin to design the cash management system, you realize the scope of the assignment is much greater. Cash management only looks at immediate needs, while looming changes on the forefront will dictate the need for a more sophisticated planning process that accounts for the sustainability and viability of the organization for the future.

Many factors complicate the financial planning process, including:

• COVID-19 pandemic disruption to clinical and business operations of healthcare.
• The Affordable Care Act will be fully implemented in 2014.
• The reimbursement model is changing from fee for service to value-based payment

Assignment

This assignment includes Presentation and Outline:

• Prepare 4-5 slides PowerPoint Presentation summarizing your plan to use at the board meeting.

• Prepare a two-page memo explaining all of the critical issues facing the group on the financial landscape, and explain how the doctors will ultimately benefit from the plan. You must read 4 6 peer-reviewed journal articles, and use the information from them to support your outline, presentation, and memo. Your goal is to demonstrate to the doctors your plan is sound and meets the anticipated changes facing them.
• I need help creating a cash flow statement for the above Case Study. I was going to use the implications surrounding the financial burden of COVID-19 pandemic
• No further information given, we have to use our imaginations