Pick a hospital or healthcare setting Write a summary of the strategic analysis of a hospital or healthcare setting including an analysis of management, mission, vision, marketing strategies, and operational considerations Write a financial analysis including a discussion of current and projected earnings, cash flow, and financing needs. Write a series of recommendations to management regarding the necessary next steps to be successful n the event of a financial crisis. For your paper, you will consider the following two scenarios: Scenario 1: The nursing union has begun bargaining and has demanded a 10 percent increase in salaries, a guarantee of no lay-offs, and an increase in pension benefits. The increase in pension benefits has a $1 million annual impact. Scenario 2: Your community is suffering a significant decrease in employment. Employees are losing their health insurance. You anticipate a 10 percent decrease in patient revenue
. However, your costs will not decrease to the same extent. You anticipate many of these individuals will continue to visit your emergency room (ER) and consume resources. The net impact is a significant increase in bad debt. In your plan, include the operating and capital requirements the organization would need in order to navigate the crisis. Write a 3- to 5-page report in Word format. Apply current APA standards for writing style to your work. Comments on these questions : How often should a hospital management review the budget? Can a hospital develop an austerity program with deep budget cost cuts without affecting patient care? You manage an operating budget of approximately $500,000. You have been instructed to cut your budget by 10 percent two months after you had agreed to a barebones budget for the upcoming year. What do you do if you know that the cuts will affect patient care? Demonstrate the importance of cost management.