Economic Environment of Business (ECM03EFA)

You are the chief financial officer (CFO) of a nonprofit organization, Seamus Company, and have been asked to analyze the company’s health insurance plans for any cost-saving measures. You have also been thinking of innovative ways to help reduce cost, such as leveraging resources through healthcare partnerships. Healthcare coverage is the sole principal employee-related expenditure for most employers (aside from salaries). Employers are shifting the healthcare cost to their employees by encouraging them to think more about health-related expenses and behavior. Employers increasingly offer incentives to remove spouses from employee plans. Employers may charge workers extra if a covered spouse has access to other insurance, or they may pay bonuses when spouses are not on the company policy. REQUIREMENTS Your submission must be your original work. No more than a combined total of 30% of the submission and no more than a 10% match to any one individual source can be directly quoted or closely paraphrased from sources, even if cited correctly. An originality report is provided when you submit your task that can be used as a guide. You must use the rubric to direct the creation of your submission because it provides detailed criteria that will be used to evaluate your work. Each requirement below may be evaluated by more than one rubric aspect. The rubric aspect titles may contain hyperlinks to relevant portions of the course. A. Create a report (suggested length 5–8 pages) that includes the following: 1. Propose three fiscally sustainable strategies for Seamus Company from the perspective of a CFO, moving away from a fee-for-service model to an MCO model. a. Recommend a plan to carry out each of the three sustainable strategies from part A1 by including the following: • cost-saving measures • tax-deductible considerations • other tax advantages • fiscal management improvements b. Discuss two financial management principles of Seamus Company that would support your recommended plan from part A1a. c. Discuss how the strategies from part A1 align to Seamus Company’s goals of reducing the costs of the company’s health insurance plans. 2. Choose one of the strategies from part A1 to analyze the use of increased service benefits for Seamus Company by doing the following: a. Discuss the healthcare utilization risk strategy that Seamus Company may face. b. Describe three financial benefits to Seamus Company with the implementation of increased service benefits. c. Describe three potential financial drawbacks to Seamus Company with the implementation of increased service benefits. d. Explain how an employee’s increased usage of these service benefits can be beneficial to Seamus Company. 3. Analyze external healthcare partnerships and their financial benefits by doing the following: a. Discuss two financial benefits from external healthcare partnerships. b. Discuss two financial drawbacks from external healthcare partnerships. c. Determine whether an external healthcare partnership would be beneficial for Seamus Company. i. Justify your determination of whether an external healthcare partnership would be beneficial for Seamus Company. B. When you use sources, include all in-text citations and references in APA format. File Restrictions File name may contain only letters, numbers, spaces, and these symbols: ! – _ . * ‘ ( ) File size limit: 200 MB File types allowed: doc, docx, rtf, xls, xlsx, ppt, pptx, odt, pdf, txt, qt, mov, RUBRIC- COMPETENT The candidate provides adequate articulation of response. A1:FISCALLY SUSTAINABLE STRATEGIES COMPETENT The candidate provides an appropriate proposal, with sufficient detail, of 3 fiscally sustainable strategies for Seamus Company from the perspective of a CFO, moving away from a fee-for-service model to an MCO model. A1A: RECOMMENDED STRATEGIES COMPETENT The candidate provides an appropriate recommendation, with sufficient detail, of a strategy to carry out each of the sustainable options by including the given points. A1B: FINANCIAL MANAGEMENT PRINCIPLES COMPETENT The candidate provides a logical discussion, with sufficient detail, of 2 financial management principles of Seamus Company that would support the recommended plan from part A1a. A1C: STRATEGY ALIGNMENT COMPETENT The candidate provides a logical discussion, with sufficient detail, of how the strategies from part A1 align to Seamus Company’s goals of reducing the costs of the company’s health insurance plans. A2A: UTILIZATION RISK STRATEGY COMPETENT The candidate provides a logical discussion, with sufficient detail, of the healthcare utilization risk strategy that Seamus Company may face. A2B: FINANCIAL BENEFITS COMPETENT The candidate provides an accurate description, with sufficient detail, of 3 financial benefits to Seamus Company with the implementation of increased service benefits. A2C: POTENTIAL FINANCIAL DRAWBACKS COMPETENT The candidate provides an accurate description, with sufficient detail, of 3 potential financial drawbacks to Seamus Company with the implementation of increased service benefits. A2D: EMPLOYEE USAGE COMPETENT The candidate provides a logical explanation, with sufficient detail, of how an employee’s increased usage of the service benefits can be beneficial to Seamus Company. A3A: FINANCIAL BENEFITS FROM EXTERNAL HEALTHCARE PARTNERSHIPS COMPETENT The candidate provides a logical discussion, with sufficient detail, of 2 financial benefits from external healthcare partnerships. A3B: FINANCIAL DRAWBACKS FROM EXTERNAL HEALTHCARE PARTNERSHIPS COMPETENT The candidate provides a logical discussion, with sufficient detail, of 2 financial drawbacks from external healthcare partnerships. A3C: EXTERNAL HEALTHCARE PARTNERSHIP COMPETENT The candidate accurately determines whether an external healthcare partnership would be beneficial for Seamus Company. B: SOURCES COMPETENT When the candidate uses sources, the candidate provides appropriate in-text citations and references accurately or with only minor deviations from APA style.