Assuming the role of a new administrator of a healthcare, long-term care, or human service organization prepare a financial leadership assessment addressing key concepts and principles essential to effective financial practices and operations of a healthcare entity. Examine how financial health would be managed including: a) financial challenges you would expect to face, b) how you would monitor and address these challenges, c) key financial information you would want access to, and d) how you would manage the financial health of the organization. Additionally, describe and explain how 3rd party Payer requirements and reimbursements and Medicare and Medicaid standards for managed care and sub-acute care factor into the financial management of your new healthcare system; and include a plan for auditing practices to ensure regulatory compliance.

Assuming the role of a new administrator of a healthcare, long-term care, or human service organization prepare a financial leadership assessment addressing key concepts and principles essential to effective financial practices and operations of a healthcare entity. Examine how financial health would be managed including: a) financial challenges you would expect to face, b) how you would monitor and address these challenges, c) key financial information you would want access to, and d) how you would manage the financial health of the organization. Additionally, describe and explain how 3rd party Payer requirements and reimbursements and Medicare and Medicaid standards for managed care and sub-acute care factor into the financial management of your new healthcare system; and include a plan for auditing practices to ensure regulatory compliance.