IHP 620 Final Project Mi

IHP 620 Final Project Milestone Three Guidelines and Rubric
Prompt: In Milestone One, you selected an organization to
analyze from the U.S. Securities and Exchange Commission’s
EDGAR database and received approval
and feedback from your instructor on your proposal. In
Milestone Two, you submitted a draft of the policy research
report and received feedback. Now, for
Milestone Three of your final project, you will apply the
economic principles you have examined through the first seven
weeks of the course to your chosen
organization by submitting a draft of the organizational analysis
report.

Based on instructor feedback and direction to this milestone,
you will revise your organizational analysis report for the final
submission of the policy research
and organizational analysis report in Module Nine.
Your analysis of your chosen organization must address the
following elements:
I. Organizational Impact and Recommendations:
A. Organization Introduction: What organization is the focus of
your report, the sub-industry or type of organization it belongs
to (home care,
hospital, etc.), and what is the financial background of the
organization?
B. Nonprofit or For-Profit: Is the organization you selected a
nonprofit or a for-profit? What differences will this make in
terms of economic policy
impact?
II. Financials, Market, and Demand:
A. Demand Theory: Explain how demand theory is reflected in
the organizational financial statements.
B. Market Behavior Impact: Explain how and why market
behavior affects the financial statements at various times
throughout the calendar year
for your organization.
III. Economic Legislative Changes:
A. Legislative Changes: Considering the economic and
legislative changes you researched, what changes are most
likely to impact your

organization, and why?
B. Policy Changes and Impact: Considering the legislative
changes and type of organization you have selected, what
possible organizational policies
may result? Discuss the possible resulting policy changes that
may occur within the organization. What is, or will be, the
impact of these policy
and legislative changes on your organization?
C. Statement Impact: In what ways would you expect to see the
financial statements to be impacted because of these changes,
and why?
D. Potential Disparities: Would the legislative changes cause
disparities in care that could further impact your organization,
or that your
organization could plan to combat? How would you recommend
planning for these?
Guidelines for Submission: Your report should be in APA
format and all resources and references should be cited
appropriately. A well-written, concise report
will fall within the range of 4–6 pages, not including a title and
reference page.
http://www.sec.gov/edgar/searchedgar/companysearch.html

Rubric
Critical Elements Exemplary (100%) Proficient (90%) Needs
Improvement (75%) Not Evident (0%) Value
Organization
Introduction
Meets “Proficient” criteria and
description is concise by

delivering key elements without
superfluous detail
Accurately and in detail describes
the selected organization, sub-
industry, and financial
background
Describes the selected
organization, sub-industry, and
financial background, but with
gaps in accuracy or detail
Does not describe the selected
organization, sub-industry, or
financial background
12
Nonprofit or For-Profit Meets “Proficient” criteria and
summary evidences ability to
translate the larger view of
economic impact in healthcare to
the level of a specific
organization
Determines whether the
organization is for-profit or
nonprofit and accurately
summarizes the impact this fact
will have in terms of economic
policy
Determines whether the
nonprofit and summarizes the

impact this fact will have in terms
of economic policy, but with gaps
in detail or accuracy
Does not determine whether the
nonprofit and summarize the
impact this fact will have in terms
of economic policy
12
Demand Theory Meets “Proficient” criteria and
evidences keen insight into
appropriate application and use
of demand theory for a particular
organization
Accurately describes how
demand theory is reflected in the
organizational financial
statements
Describes how demand theory is
related to the financial
statements, but with gaps in
accuracy or detail regarding how
the statements reflect demand
theory
Does not describe how demand
theory is related to the financial
statements
10

Market Behavior
Impact
explanation evidences keen
insight into the nuanced
relationship between market
behavior and financial impacts to
an organization
Accurately explains how market
behavior impacts the financial
statements of the organization at
various times throughout the
year, and explains why
Explains how and why market
behavior impacts the financial
statements of the organization at
various times throughout the
year, but with gaps in detail or
accuracy
Does not explain how and why
market behavior impacts the
financial statements of the
organization at various times
throughout the year
12
Legislative Changes Meets “Proficient” criteria and
evidences keen insight into how
the current economic legislation
changes will impact organizations

Accurately determines and
explains the recent economic
legislative changes that would
most likely impact the selected
organization
Determines and explains the
recent economic legislative
changes that would most likely
impact the selected organization,
but with gaps in accuracy or
detail
Does not determine and explain
the recent economic legislative
changes that would most likely
impact the selected organization
12
Policy Changes and
Impact
evidences keen insight into the
nuanced impact of legislative
changes on healthcare
organizations
Logically determines the impact
the recent legislative changes will
have on the selected
organization and its policies, with
supportive detail
Determines the impact the

recent legislative changes will
have on the organization and its
policies, but with gaps in logic or
supporting detail
Does not determine the impact
the recent legislative changes will
have on the organization and its
policies
12
Statement Impact Meets “Proficient” criteria and

facets and factors that influence
financial statements
Accurately describes how the
financial statements are
impacted based on legislative
and policy changes
Describes how the financial
statements are impacted but
lacks accuracy or necessary detail
regarding legislative and policy
changes
Does not describe how the
financial statements are
impacted
10
Potential Disparities Meets “Proficient” criteria and
continuously evolving healthcare
environment or the
unpredictable impacts of
legislation on specific
organizations and availability of
care
Recommends logical methods to
plan for legislative and policy-
driven disparities in care to
prevent further organizational
impact
Recommends methods to plan

for legislative and policy-driven
disparities in care, but they
would not logically prevent
further organizational impact
Does not recommend methods
to plan for legislative and policy-
driven disparities in care
10
Articulation of
Response
Submission is free of errors
related to citations, grammar,
spelling, syntax, and organization
and is presented in a professional
and easy-to-read format
Submission has no major errors
spelling, syntax, or organization
Submission has major errors
that negatively impact readability
and articulation of main ideas
Submission has critical errors
that prevent understanding of
ideas

10
Earned Total 100%
IHP 620 Final Project Milestone Three Guidelines and Rubric
Rubric
2
Healthcare Economics
Precious Teasley
Southern New Hampshire University
IHP-620-Q1591 Economic Principles- healthcare 22TW1
Dr. Scott
September 24,2022

Economic Theories and Principles
A.
Economic Disparities
The provision of healthcare requires financial resources. A
healthcare organization needs to be financially stable for it to
offer the needed healthcare services to its patients (Hicks,
2020). Jackson Memorial Hospital, despite being a non-profit
organization, is financially stable and this implies that the
facility can afford to offer the best quality healthcare services
as well as research opportunities. When the facility is
financially healthy, there is a demand of investing the excess
money into new healthcare services so that patients can access
more and better services. According to the demand theory, when
there is more disposable income, there is an increased demand
for more goods and services. In other words, the financial well-
being of an organization affects its demand for services.
B.
Economic Theories
One of the most useful economic theories in the healthcare
industry is the theory of demand and supply. According to this
economic theory, the demand for a product will decline if the
price goes up (Bender, 2020). Conversely, when the prices are
high, the supply of a product is boosted but when prices drop,
the supply is diminished. This theory is relevant to the field of
healthcare, especially in chronic illnesses. For instance, if the
supply of medicine for a particular disease decreases but the
demand persists, then the price of the medicine will go up. The
proponents of this theory argue that the level of demand and
supply affect the prices of commodities in the market until the
point of economic equilibrium is reached. This is true in the
healthcare industry because there are situations where there is a
shortage of particular drugs or services while the demand is
high. This makes them expensive and inaccessible to many
patients who require the services.
C.

Use of Economic Principles
Economic principles are important to organizations because
they help in making informed decisions especially financially.
For an organization to operate, it needs to invest in various
areas where it intends to provide goods and services to its
clients. In such cases, economic principles must be applied to
determine the cost-benefit analysis of the potential investment.
This helps to tell whether or not there will be a reasonable
return on investment in whichever project an organization takes.
If there is an indication that investment will be successful,
resources should be provided for the project. In other words,
economic principles play a key role in informing an
organization about the chances of success or failure of what
they want to do. For the best results to be achieved, a variety of
economic principles such as the cost-benefit analysis and the
SWOT analysis should be utilized. Even if an organization is a
non-profit, it needs to make the correct economic decisions for
it to survive in the industry.
For Profit and Non-Profit
A.
Financial Differentiation
As the names suggest, for-profit healthcare organizations, apart
from offering healthcare services, are also established to make
financial gains. On the contrary, non-profit healthcare
organizations are majorly established for public and social
benefit. They do not intend to make profits for their owners.
For-profit organizations sell their services at a cost that enables
the organization to earn a profit. The proceeds are used to
finance the operations of the facility (Rice & Unruh, 2015). On
the other hand, non-profit healthcare organizations usually offer
free services or charge a subsidized fee. Their operations and
services are funded by donors and well-wishers. As much as the
two types of organizations might offer similar services, they are
established for different reasons.
B.

Economic Differentiation
As aforementioned, for-profit and non-profit organizations are
established for different reasons even if they might be operating
in the same industry. As far as economic differentiation is
concerned, for-profit organizations utilize economic principles
that focus on buying goods at a lower price or manufacturing
them and then reselling them at a higher price (Bender, 2020).
The economic model for for-profit organizations focuses on
minimizing losses and maximizing profits. On the other hand,
non-profit organizations only utilize economic models that
focus on sustainability; as long as the organization can sustain
itself, that is what matters. Such organizations pay a lot of
attention to employee accountability and responsibility to make
sure everyone works responsibly to keep the organization
functional. Non-profit organizations focus on best practices that
revolve around client satisfaction rather than maximizing
profits.
Policies, Changes, and Disparities
A.
Economic Policies and Disparities in Healthcare
Economic policies have a direct impact on healthcare, and
sometimes they cause disparities. For instance, health insurance
is an economic policy that is intended to make healthcare
affordable, especially in emergency cases that require
substantial financial resources. Insurance determines the kind of
services different patients receive depending on how much they
contribute towards their coverage. Economic policies such as
health insurance make access to healthcare affordable. The
difference is different patients receive different types of care
determined by their contributions (Rice & Unruh, 2015). There
are disparities in healthcare occasioned by economic policies as
seen above.
B.
Policy Changes
One of the recent policy changes is the introduction of the

Temporary Marketplace Premium Tax Credit Enhancement. This
is a policy change that enables more people to afford healthcare
coverage by widening the coverage. It is a move by the Biden
administration to ensure there is more affordability in terms of
accessing healthcare. If congress passes this into law, more than
14 million Americans will receive affordable healthcare
coverage. The impact that this policy has on the healthcare
economic policy is the fact that organizations will have to
adjust their policies so that they can accommodate the new
development. There will be more demand for healthcare
services because they are affordable to more people. Healthcare
organizations will be required to increase the supply of their
products, services, and manpower to match the newly increased
demand. When policies are made by the government,
organizations in the affected industries need to adjust their
strategies so that they can fit in the new environment.
C.
Disparities Planning
Disparities must be factored into healthcare strategic planning
because they affect operations and the productivity of the
organization. It is essential to pay attention to such factors so
that operations are streamlined and uninterrupted. Healthcare
disparities, in simple terms, refer to differences in healthcare
components such as insurance covers, types of diseases, types
of healthcare needed, and income disparity among patients. The
more disparities, the more challenging a situation is. With such
a huge difference, there needs to be effective strategic planning
for an organization to handle the situation (Hicks, 2020). For
instance, in the case where a healthcare organization serves
people who speak a different language than the native one, there
needs to be a plan to have permanent language translators to
ease the communication between patients and caregivers.
References
Bender, L. (2020).
Economics: Theories and Applied Principles. New
York: CLANRYE International.

Hicks, L. (2020).
Economics of Health and Medical Care. Burlington,
MA: Jones and Bartlett.
Rice, T. & Unruh, L. (2015).
The Economics of Health Reconsidered. Chicago:
Health Administration Press.
1
3
Econ Principles Milestone 1
Precious Teasley
Southern New Hampshire University
IHP-620-Q1591 Economic Principles- healthcare 22TW1
Dr. Scott
September 6,2022

The primary teaching facility for the Leonard M. Miller School
of Medicine at the University of Miami is the accredited, non-
profit Jackson Memorial Hospital. Jackson Memorial Hospital,
which has more than 1,550 licensed beds, serves as a referral
facility, attracts researchers, and is the location of the Ryder
Trauma Hospital, the only adult and pediatric Level 1 trauma
center in Miami-Dade County. The primary teaching facility for
the Leonard M. Miller School of Medicine at the University of
Miami is the accredited, non-profit Jackson Memorial Hospital
(Jackson et al., 2002). Jackson Memorial Hospital, which has
more than 1,550 licensed beds, serves as a referral facility,
attracts researchers, and is the location of the Ryder Trauma
Hospital, the only adult and pediatric Level 1 trauma center in
Miami-Dade County.
Patients bear a significant financial burden due to lower
insurance payments. In addition, COVID-19 pandemic victims
and their families are being compelled to pay extra for even
simple and commonplace services due to job loss or layoffs.
The patient is now the third-largest payer, after Medicare and
Medicaid, according to Jackson Hospital's vice president of
revenue cycle; therefore, the financial risk these developments
posed to Jackson Hospital had to be addressed.
The management aimed to implement contemporary methods to
involve patients early in discussions about financial obligations,
payment alternatives, and agreements (Jackson et al.,2002). To
improve patient collections, Jackson Hospital looked for
effective ways to convey patient balances and payment choices
for services provided. Among the objectives were lowering
collection expenses and raising patient satisfaction. A $1.2
billion, not-for-profit, independently run acute care hospital,
Jackson Hospital is located in a working-class neighborhood
with blue-collar residents (Tookes et al., 2015). Their
population's payer mix is 56% Medicare, 11% Medicaid, and 6%
self-pay, and their patients' average credit scores are under 600.

From the financial statements available, this organization has no
notable spike in revenue attributable to increased injuries and
accidents related to the ice during the winter season.
References
Jackson, C. A., Derose, K. P., Chiesa, J., & Escarce, J. J.
(2002). Hospital Care for the Uninsured in Miami-Dade County.
Hospital Finance and Patient Travel Patterns. RAND CORP
SANTA MONICA CA.
Tookes, H., Diaz, C., Li, H., Khalid, R., & Doblecki-Lewis, S.
(2015). A cost analysis of hospitalizations for infections related
to injection drug use at a county safety-net hospital in Miami,
Florida. PloS one, 10(6), e0129360.

IHP 620 Final Project Mi

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