Health Management and Finance Analysis: Venice Family Clinic

This report provides an analysis of the health management and financial aspects of Venice Family Clinic. It begins with a description of the Human Resources (HR) department, outlining its key functions and responsibilities within the organization. The report then examines the financial condition of the clinic, referencing the consolidated statements of activities and financial position for the year 2017 to highlight revenue, expenses, and net assets. Following this, the report delves into current trends in healthcare, such as the financial risks faced by rural hospitals, the rise in employment in medical care services, the increase in virtual health facilities, and the growing focus on population health. The report then discusses the opportunities and challenges these trends present for Venice Family Clinic, including potential for expansion, the ability to recruit skilled staff, and the need to comply with regulatory changes. Finally, the report assesses the implications of these trends on the clinic's mission to provide high-quality primary healthcare, concluding that while most trends are positive, increased regulatory compliance may pose a challenge.

Running head: HEALTH MANAGEMENT AND FINANCE
Health Management and Finance
Name of the Student
Name of the University
Author’s Note

1HEALTH MANAGEMENT AND FINANCE
Table of Contents
Description of Department..............................................................................................................2
Description of the Organization’s Financial Condition...................................................................2
Trends in Healthcare........................................................................................................................3
Opportunities and Challenges..........................................................................................................4
Implication on Organization’s Mission...........................................................................................4
References........................................................................................................................................6

2HEALTH MANAGEMENT AND FINANCE
Description of Department
Health organizations like Venice Family Clinic have different support departments for
ensuring organization’s smooth operations; and one of such departments is the Human
Resource (HR) Department. The main aim of the HR department in Venice Family Clinic is to
ensure providing professional, customer-focused and efficient services to the staffs and
managers; and then facilitates the delivery of efficient, professional and customer-focused
services to the patients (Rao, 2014). In addition, this department is provided with the objective to
recruit efficient human resources for the clinic. Another major duty of HR department is to
ensure developing policies and procedures in relevant areas that the staffs are needed to adhere to
within the organization. All these roles and functions of this departments leads to employee
satisfaction, well working condition along with both the provision of both the monetary and non-
monetary benefits for the staffs and employees. HR departments another crucial responsibility is
to ensure providing compensation for the rendered services by the employees (Sheehan et al.,
2014).
Description of the Organization’s Financial Condition
It can be seen from the consolidated statement of activities of Venice Family Clinic for
2017 that the total revenue has increased in the year 2017 as compared to 2016 that is
$47,573,854 from $41,850,527; and is a good sign for the financial condition of Venice Family
Clinic. At the same time, there is an increase in total expenses of the company in 2017 from 2016
that is from $33,623,484 to $39,208,190 (venicefamilyclinic.org, 2019). However, net asset of
Venice Family Clinic in 2017 has increased from $27,467,436 to $35,824,872 which denotes
strong financial condition of Venice Family Clinic in 2017. As per the consolidated statement of

3HEALTH MANAGEMENT AND FINANCE
financial position of Venice Family Clinic of 2017, there is a major increase in the total assets of
the company in 2017 from 2016; that is $37,285,567 from $28,605,525. This has led to the
increase in net assets of the firm in 2017. Based on the above discussion, it can be said that
Venice Family Clinic had a good financial condition in 2017 (venicefamilyclinic.org, 2019).
Trends in Healthcare
1. According to the National Rural Hospital Association, most of the rural hospitals are
facing financial risk and 25% of the rural hospitals will close within less than a decade.
Thus, the patients in rural areas are facing challenges in getting proper services
(ncbi.nlm.nih.gov, 2019).
2. As per the government data of Pew Research Centre, there is a rise in employment in the
areas that need more education and training like medical care services (ncbi.nlm.nih.gov,
2019).
3. There is an increase in virtual heath facility which will enable the patients to directly
communicate with their caregivers (deloitte.wsj.com, 2019).
4. There is a trend to put more focus on the population health which includes the efforts of
using the effective and efficiently use of healthcare resources for providing lifetime
health and well-being of a specific population (deloitte.wsj.com, 2019).
5. Government agencies have started to make changes in the areas of regulatory authorities
which include the Department of Health and Human Services, Department of Labor and
Treasury (ncbi.nlm.nih.gov, 2019).

4HEALTH MANAGEMENT AND FINANCE
Opportunities and Challenges
1. The first trend brings opportunity for Venice Family Clinic to expand their operations in
the rural areas where there are not sufficient healthcare centers. This will lead to the
increase in revenue (ncbi.nlm.nih.gov, 2019).
2. In the presence of the second trend, Venice Family Clinic will be able in appointing more
skillful and efficient staffs for their services which will help in effectively cater to the
needs of the patients (ncbi.nlm.nih.gov, 2019).
3. Implementation of the virtual health facility will enable Venice Family Clinic to reach to
more patients in less time for providing better services. This will lead to increase in
clients and revenue of Venice Family Clinic (deloitte.wsj.com, 2019).
4. In case of the fourth trend, effective use of healthcare resources will provide Venice
Family Clinic with the access to serve a large population base that is good for increase in
revenue and business expansion (deloitte.wsj.com, 2019).
5. The regulatory changes works a challenge for Venice Family Clinic since the company
will have to comply with more or complex regulation (ncbi.nlm.nih.gov, 2019).
Implication on Organization’s Mission
The mission of Venice Family Clinic is to provide high quality of primary health-care to
the people in need (venicefamilyclinic.org, 2019). The above discussed trends or factors will
play a positive role in fulfilling the mission of the company since it will allow it to enhance their
operations through the effective and efficient use of their resources for catering to the primary
medical need of a vast population in both urban and rural areas. However, more regulatory
compliance can create a hurdle in going forward of the company’s mission. However, all the

5HEALTH MANAGEMENT AND FINANCE
other factors have positive implications on the going forward of the mission of Venice Family
Clinic.

6HEALTH MANAGEMENT AND FINANCE
References
F. Randy Vogenberg, J. (2018). Healthcare Trends for 2018. American Health & Drug
Benefits, 11(1), 48. Retrieved from
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5902765/
Five Trends That Could Impact Health Care in 2019. (2019). Retrieved 11 July 2019, from
https://deloitte.wsj.com/riskandcompliance/2019/01/09/five-trends-that-could-impact-
health-care-in-2019/
Rao, T. V. (2014). HRD audit: Evaluating the human resource function for business
improvement. SAGE Publications India.
Sheehan, C., De Cieri, H., Cooper, B., & Brooks, R. (2014). Exploring the power dimensions of
the human resource function. Human Resource Management Journal, 24(2), 193-210.
Venice Family Clinic :: Overview. (2019). Venicefamilyclinic.org. Retrieved 11 July 2019, from
https://venicefamilyclinic.org/index.php?view=vfc_about&action=clinic_brief
Venicefamilyclinic.org. (2019). CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED
JUNE 30, 2017. Retrieved 11 July 2019, from
https://venicefamilyclinic.org/pdf/VFC_2017_Audited_Financials.pdf