home / study / questions and answers / business / finance / it is december 2008, and you have just a

home / study / questions and answers / business / finance / it
is december 2008, and you have just accepted … Question It is
December 2008, and you have just accepted an appointment as the
Chief Financial Officer (CFO) position at Midwest Healthcare
System. Dr. Montana is the system’s President and Chief Executive
Officer (CEO). Your peers on the Executive Team include Mr. Clark,
the Chief Operating Officer (COO), Dr. Jordan, the Medical
Director, and Ms. Palfrey, the Vice-President of Nursing. When Dr.
Montana announced your appointment to the organization, he stated
that your primary objective would be to reverse the ominous
financial trend of operating losses that started early FY 2008; the
trend is expected to continue into FY 2009. During FY 2008, some of
the operating losses were offset with emergency infusions of
investment income from restricted net assets; however, in November,
the Midwest Healthcare System Board of Trustees passed a resolution
prohibiting that practice. Consequently, investment income is now
restricted to capital expenditures only. Midwest Healthcare System
is a not-for-profit corporation that comprises a 120-bed acute care
hospital, a skilled nursing facility, a rehabilitation center, a
home healthcare agency, and some outpatient clinics. The hospital
is the only major facility within 50 miles of the rural community
of approximately 40,000 that it serves. Write a three- to four-page
paper in which you: Develop a specific set of realistic questions
(at least five per member) that you will ask each of the three
executive team members based on their specific roles,
responsibilities, and perspectives regarding the causes of the
operating losses and the potential resolutions. Focus on questions
related to the following topics. However, you may address other
topics not included in this list:

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