Determine the Organization’s Mission and Purpose
Select the Chief Executive
Provide Proper Financial Oversight
Ensure Adequate Resources
Ensure Legal and Ethical Integrity and Maintain Accountability
Ensure Effective Organizational Planning
Recruit and Orient New Board Members and Assess Board Performance
Enhance the Organization’s Public Standing
Determine, Monitor, and Strengthen the Organization’s Programs and Services
Support the Chief Executive and Assess His or Her Performance

http://www.hfma.org/library/revenue/PatientFriendlyBilling/

Structure and composition of the board
Board attendance and turnover
Board interaction with management
Well thought-out debt and balance sheet management
Level of accountability the board places on management and itself
Thorough understanding of the organization’s financial, marketing, operational and quality metrics
Understanding of capital markets and thehospital’s ability to access capital
Adoption of relevant Sarbanes-Oxley provisions
Ability to balance the concept of mission versus margin
Transparency in terms of financial, quality, marketing and operational indicators

Financing the Future I
www.financingthefuture.org
Fitch Ratings I
www.fitchratings.com
Healthcare Financial Management Association I
www.hfma.org
Moody’s Investors Service I
www.moodys.com
Standard and Poor’s I
www.standardandpoors.com

JointVenture Business Plan Components
- Executive summary
- Concept overview (business objective;congruence with mission and values)
- Market assessment (industry, competition)
- Development strategy (competitive differentiation and perceived strategic benefits)
- Organizational structure
- Management
- Operating plan (hours, services, staff requirements, qualitymanagement program)
- Utilization projections
- Financial plan (projected capital requirements,anticipated financial returns, and sources of
capital )
- Legal/regulatory/tax considerations (IRS, anti-kickback, Stark II, etc.)

n+nkou