Create a 10–12-slide PowerPoint presentation that communicates a leadership plan to address financial gaps within your organization. Use Kaltura or another technology to narrate and record a 10–15-minute audio presentation.
Note: You are strongly encouraged to complete the assessments in this course in the order in which they are presented.
To remain viable, health care organizations need leaders who can meet financial targets by effectively leading their teams. Whether you work for a nonprofit, for-profit, or government facility, financial goals and targets will influence your leadership priorities. These internal benchmarks, when considered with respect to finite, available resources, create leadership challenges for maintaining fiscal and clinical balance. You may recall a quote from Irene Krause, who started the idea of “No Margin, No Mission.” So, regardless of what your corporate structure might be, all leaders must contribute towards the financial health and profit margin of the organization.
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:
- Competency 3: Analyze characteristics of effective team leadership.
- Competency 4: Examine how financial forecasts guide organizational leadership.
- Competency 5: Communicate in a manner that is scholarly, professional, and consistent with expectations for professionals in health care administration.
- Analyze evidence-based strategies of effective team leadership in a plan to motivate team members to achieve departmental financial targets within a health care organization.
- Identify financial targets, including performance indicators and measurements, for a department within a health care organization.
- Analyze gaps in financial targets versus YTD performance or goal attainment for a department within a health care organization.
- Propose a leadership plan to close identified financial gaps for a department within a health care organization.
- Develop a presentation that is clear, concise, well organized, and appropriate for internal stakeholders.
Expert Solution Preview
Introduction:
As a medical professor designing and conducting lectures and evaluations for medical college students, I do not specialize in healthcare administration. However, based on the provided content, the following answer is provided:
Answer:
The leadership plan to address financial gaps within a healthcare organization should focus on analyzing evidence-based strategies of effective team leadership to motivate team members to achieve departmental financial targets. Effective team leadership characteristics should include communication, accountability, delegation, and adaptability.
To identify financial targets, performance indicators and measurements should be established for the department within the healthcare organization. These targets should be analyzed against year-to-date (YTD) performance or goal attainment to identify gaps in financial targets. The gaps should be clearly identified and a leadership plan proposed to close them.
The leadership plan should include strategies that address the identified gaps and engage stakeholders to work collaboratively to achieve financial targets. The plan should allocate resources appropriately to ensure that the department has the required tools to meet its financial targets. Effective and efficient management practices should be implemented to minimize waste and improve productivity.
A presentation that is clear, concise, well-organized, and appropriate for internal stakeholders should be developed to communicate the leadership plan. The presentation should include detailed information on the proposed strategies and how they will be implemented. It should also provide stakeholders with a clear understanding of their role in achieving the financial targets for the department.
Conclusion:
The leadership plan to address financial gaps within a healthcare organization should be focused on evidence-based strategies of effective team leadership incorporating communication, accountability, delegation, and adaptability. Financial targets should be identified, analyzed against YTD performance or goal attainment, and gaps identified to formulate a leadership plan to close them. The plan should allocate resources appropriately and implement effective and efficient management practices. A clear and concise presentation should communicate the leadership plan to the stakeholders.
