1) Financial StatementsYou are the Director of the Outpatient Department at a mid size hospital. You attend quarterly Board meetings where the major financial statements are presented, shared and discussed; so you are familiar with them and use the related information in doing your job and assessing how your areas, and the organization are doing.This month, you are bringing your new Assistant Director to join you at the Board meeting. Prior to the meeting, you want to explain to her/him what these key financial statements are, what they report, and how you use them (or don’t), or aspects of them, in running and understanding your area and what’s happening in the entire organization.In one page or less, discuss what you will say to explain the reports and how you use them. Bullet points are ok where appropriate.2) BudgetingOutpatient Rehab has been such a success (Congratulations!!), that Administration has asked you to develop a budget proposal for opening an inpatient rehab floor in a currently closed patient area in the hospital’s affiliated nursing home. The area is currently set up as a 20 bed fully furnished (up to date beds and furnishings); so no new patient or nursing equipment should be necessary. However, there is no medical, nursing, rehab, clerical, or housekeeping staff assigned to the unit; and the unit, obviously, receives no patient supplies. Administrative Support area costs (Marketing, HR, IT, Finance) are allocated to patient care areas based on patient days per year.Tasks:1. List what assumptions (for example regarding volume, staffing ratios, etc) you would need to be able to make to develop this budget; and explain how you would make those determinations.2. Based on the assumptions you’ve made, develop a two year budget for this unit assuming different occupancies in year 1 and year 2 (occupancy should be one of your assumptions)In about one to two pages.
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