HSC5001-20 Financial Management An Health And Social Care
Word count : 3000
Weight : 60
Learning outcomes assessed :
– Demonstrate a critical understanding of the principles and practices of budgeting and resource management in health and social care.
– Develop and evaluate innovation in problem solving approaches to resourcing the needs of service user groups.
– Analyse the impact of Direct Payments on improved outcomes for people who use services
HSC5001-20 Financial Management An Health And Social Care

Task:
– You have been appointed to head the financial department of a care home or any health and social care organisation of your choice. You are required to research on the current health and social care financial climate and examine some of the changing structures, systems, and service design taking place. Based on your research, you are required to write a report on your findings and propose a new service design, or an improved design for the existing service to be more efficient.
– You are required to examine the financial records of the chosen organisation, (please use
published financial statements only) to identify and state their current source/s of financing and how this can be improved or changed to meet the changing needs of existing and new service user group.
– You are required to present the advantages and disadvantages of the current and new sources of financing.
– Part of your responsibility will be to manage the fund/funds allocated to your department
efficiently. You are required to prepare an income and expenditure budget for this purpose
based on the new service user group designed.
– Examine the impact of direct payments on the current service users and make
recommendations.
– You are allowed to choose any H&SC organisation in the UK, but you are advised to seek approval from your tutor to be sure your chosen organisation fits the purpose).
– You are also required to provide a reflection of lessons learnt from this module.

Assessment Structure
As a guide, you are required to include in your report the following:

Section A:
– Title (Name of organisation and the proposed new service design)
– Table of Contents
– Brief introduction of your organisation, the current service user group and the new service design etc.

Section B:
– Report your findings from the research of the current HSC financial climate and some of the changing in the funding, system and structure of the service design.
– Propose a new service design that will improve the financial position of the organisation and the quality of services provided to users.
– Examine the past two-year financial records of your organisation, stating the sources of
funds/income, advantages and disadvantages of the source of fund/income (You can
recommend other sources of funding/income for the organisation and state the advantages and disadvantages of the recommended sources of funding) and report your findings and recommendations.
– Produce an income and expenditure budget for the new service design.

Section C:
– Analyse the strategy you will put in place to manage the allocated fund (This will include the control measures to monitor allocated funds).
– What are the advantages and disadvantages of Direct Payments to the service users and make recommendations?

Section D:
You are expected to provide a personal reflection of lessons learned throughout this module (challenges experienced and knowledge acquired), your current strength/skills and the skills that you need to improve to enhance your future career in financial management. Please use the Gibbs reflective Model or other reflective model to structure your writing. (This should be about 400 to 500 words).

– List of References
– Appendixes

IMPORTANT NOTE

– You may use word document or PowerPoint slides to present your report. If you are using a PowerPoint slide, please make sure all explanations are on the PowerPoint slides. Do not write on the NOTE side.
– Charts, diagrams, and figures may be used wherever appropriate to support the points made in the report and explanation for the charts, diagram or figures most be provided.
– You are expected to support your findings with relevant theoretical framework and data relating to your findings as well as the organization you have considered.
– This is an academic piece of work; therefore, you must adequately support your report with appropriate references and relevant examples where necessary.
– A full reference list should be included in a separate slide at the end.
– Citations and references should be provided using the Harvard referencing style.

To Be Continuous…

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