View attached explanation and answer. Let me know if you have any questions.View attached explanation and answer. Let me know if you have any questions.Running head: MEMOMemo: Hillsboro Health\u2019s Financial Health in the Community, Governance,Management, and StructureStudent\u2019s NameInstitutional AffiliationCourseInstructor\u2019s NameDateMEMO2Executive SummaryInformed decisions are essential in helping healthcare organizations to realize desiredpatient outcomes. For this reason, analysis of Hillsboro\u2019s current governance structure,management system, operations, strategic position, and financial health is necessary. Analysisof the organization\u2019s financial health showed that organization\u2019s strongest financial positionis its ability to generate an increasing profit margin. On the other hand, its biggest weaknessis its ability to collect its receivables. Therefore, the organization should continueimplementing current strategies to help it generate desired earnings. However, it shouldchange its credit policy to improve the efficiency with which it collects its receivables.Secondly, Hillsboro Health undoubtedly has a powerful governance team. Theleadership remains organized, with executive committees having well-defined roles.However, the executive committee reserve the power to nominate individuals for boardmembership. Such a policy can contribute to corrupt practices, denying other qualifiedindividuals from serving on the board. The board also has no close relations with employeessince they only interact with the executive team. Thus, the organization should align its boardstructure with new business strategies to avoid creating multiple power centers following amerger, stablish a connection with employees and managers and require the executivecommittee to collaborate with the management team in nominating board members.Thirdly, Hillsboro Health\u2019s structure, which comprises four divisions divided basedon its mission, clientele, and reimbursement is appropriate but can be made more effective.Specifically, the organization should make its departments autonomous with supporting unitsbecause of the unique services they offer patients. Home Care Services, Community HealthServices, and Hospice and Palliative care should have independent finance, informationsystems management, marketing, and quality improvement units since different sources fundthem. Besides, it should create an internal audit and compliance unit separate from thefinance unit to ensure that all departments and units comply with regulatory and professionalstandards.Lastly, Hillsboro follows a collaborative management style, where all units anddepartments cooperate to deliver quality client services. Martha Washington, the CEO, headsthe management team, including the chief operating officer, chief financial officer, medicaldirector, care quality improvement officer, program director of home care services, andprogram director of private duty services. Effective collaboration gives Hillsboro Health acompetitive advantage in the market. However, Hillsboro still struggles with collaboration insome areas. As detailed in the case study, there was poor coordination between the clinicalstaff and the business team. Therefore, the organization\u2019s management team should create aninterdisciplinary or interdepartmental team to address coordination concerns.MEMO3Memo: Hillsboro Health\u2019s Financial Health in the Community, Governance,Management, and StructureHillsboro Health\u2019s financial strengths and weaknessesOne essential factor that enables healthcare organizations to offer patients qualityhealthcare is their finances. A healthcare organization with sufficient finances can cater to thedifferent needs of the patients and its staff, thus enabling it to maintain high employee andpatient satisfaction levels. For this reason, it is essential for healthcare organizations to adoptstrategies that will have the desired impact on their financial health. Such strategies can bedetermined by analyzing an organization\u2019s financial data to identify its financial strengths andweaknesses or areas to improve. The analysis is carried out (Bull, 2008). This paper useddifferent financial ratios, such as liquidity, profitability, and efficiency ratios, to helpascertain Hillsboro\u2019s financial health strengths and weaknesses.Hillsboro Health\u2019s financial strengthsTwo of the liquidity ratios indicated Hillsboro Health\u2019s financial strengths. The firstone was the organization\u2019s current ratio. A current ratio is one of the liquidity ratios that helpsto determine an organization\u2019s ability to cover its short-term financial obligations using itscurrent assets. As shown in Table 1, between 2019 and 2016, Hillsboro Health\u2019s current ratiowas greater than one, and it increased each year over the four years. The organization\u2019scurrent ratio shows that it is in good financial health because it can cover its short-term debtsusing its current assets (Bull, 2008). Secondly, the trend of the organization\u2019s quick ratio wasupward between 2016 and 2019. Also, over the four years, the ratio was greater than one. Forthis reason, we can conclude that Hillsboro Health can also cover its short-term financialobligations using its most liquid assets. However, the organization\u2019s cash ratio wassignificantly less than one. The low cash ratio indicates that the organization does not havesufficient cash and cash equivalents to cover its short-term debt obligations (Islam, 2014).Other indicators of Hillsboro\u2019s financial strength were its net operating margin andROA. Specifically, , the trend of the two ratios be\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"
View attached explanation and answer. Let me know if you have any questions.View attached explanation and answer. Let me know if you have any questions.Running head: MEMOMemo: Hillsboro Health\u2019s Financial Health in the Community, Governance,Management, and StructureStudent\u2019s NameInstitutional AffiliationCourseInstructor\u2019s NameDateMEMO2Executive SummaryInformed decisions are essential in helping healthcare organizations to realize desiredpatient outcomes. For this reason, … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-17","post","type-post","status-publish","format-standard","hentry","category-essaywr"],"_links":{"self":[{"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/posts\/17","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/comments?post=17"}],"version-history":[{"count":0,"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/posts\/17\/revisions"}],"wp:attachment":[{"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/media?parent=17"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/categories?post=17"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/academicwritersbay.com\/writings\/wp-json\/wp\/v2\/tags?post=17"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}