For Instructors Use Only: Course Name Internship Student Nam

1for Instructors Use Onlycourse Name Intershipstudents Name Hadee

Provide a comprehensive report on your internship at the Royal Commission Hospital, Jubail Industrial City, specifically in the Financial Affairs Department, Division of Budget Accounts and Assets Revenue. Include an overview of your training, activities, and tasks performed, along with recommendations for future interns, and a concluding summary of your experience.

Paper For Above instruction

The internship experience at the Royal Commission Hospital in Jubail Industrial City offered invaluable insights into the operational functions of a major financial department within a healthcare institution. My engagement was primarily within the Budget Accounts and Assets Revenue division of the Financial Affairs Department, where I was exposed to various significant activities that enhanced my understanding of financial management, reporting, and administrative procedures in a real-world setting.

The overview of my training encompassed familiarization with the hospital's fiscal planning processes, financial reporting standards, and the management of revenue streams and assets. The department functions as a pivotal unit responsible for maintaining fiscal discipline, preparing financial forecasts, managing payment plans, and ensuring accurate record-keeping. Throughout my internship, I actively participated in several tasks that allowed me to observe and contribute to the department’s core operations.

One of the primary activities I engaged in was preparing forecast budgets. This involved analyzing historical financial data, assessing hospital service demands, and projecting future revenues and expenses. I also assisted in developing payment plans, which required close collaboration with the hospital administrators and financial officers to ensure alignment with strategic and operational goals. Following the creation of financial plans, I followed up on their implementation, ensuring that actual expenditures and revenues matched projections and that variances were identified and addressed in a timely manner.

Another critical aspect of my internship involved financial record-keeping and reporting. I was involved in recording claims disbursement, registering receipt of claims in financial reports, and maintaining accurate accounting entries. Additionally, the tasks of bank reconciliations and closing accounting periods provided me with practical experience in ensuring financial data integrity and compliance with organizational standards.

Within the Revenue department, my responsibilities included billing and approval of medical invoices, follow-up on collection efforts, and generating revenue reports. Engaging directly with the hospital's billing process and collection efforts highlighted the importance of efficient revenue cycle management in maintaining the hospital’s financial health. These activities also underscored the role of transparent reporting and the importance of accuracy in financial documentation to facilitate decision-making by management.

Interacting with colleagues and supervisors was an integral part of my internship, which provided me with opportunities to clarify tasks, seek guidance, and understand departmental workflows. Asking questions about specific tasks helped deepen my comprehension of financial processes, while reviewing and discussing draft reports with my supervisor allowed me to improve the quality of my work and learn professional standards in financial reporting.

My experience underscored the importance of teamwork, clear communication, and meticulous attention to detail. Moreover, I recognized the necessity of a proactive attitude, which included asking questions, seeking feedback, and applying corrective measures to improve overall performance. The internship also emphasized the significance of ethical conduct and confidentiality, considering the sensitivity of financial and medical data handled by the hospital.

Based on my internship, I recommend future interns to prepare by acquiring a basic understanding of hospital administration and financial reporting software. It is beneficial to cultivate good communication skills and be proactive in engaging with colleagues and supervisors. Interns should also prioritize accuracy and compliance with organizational policies to maximize their learning experience and contribute effectively to the department’s goals.

In conclusion, my internship at the Royal Commission Hospital provided a comprehensive overview of financial management within a healthcare setting. It bridged the gap between academic knowledge and practical application, equipping me with essential skills in budgeting, record-keeping, financial reporting, and professional communication. The experience has solidified my understanding of financial operations in a hospital environment and has prepared me better for future career opportunities in finance and healthcare administration.

References

  • Al-Saadi, M., & Al-Ajmi, R. (2020). Financial Management in Healthcare Organizations: A Comparative Study. Journal of Healthcare Finance, 45(2), 55-67.
  • Craig, R. (2019). Hospital Financial Management: Principles and Practices. Healthcare Financial Management Association.
  • El-Kareh, R., & Goldstein, H. (2021). Revenue Cycle Management in Hospitals: An Overview. Journal of Medical Systems, 45(3), 90.
  • Financial Accounting Standards Board (FASB). (2022). Guidelines for Healthcare Financial Reporting. Financial Accounting Standards.
  • Hospital Finance Management. (2018). Best Practices for Budgeting and Financial Reporting in Healthcare. Healthcare Publishing.
  • Jones, D., & Smith, L. (2021). The Role of Budget Forecasting in Hospital Financial Stability. International Journal of Healthcare Management, 14(4), 231-242.
  • Khan, S. (2019). Asset Management and Revenue Enhancement in Hospitals. Journal of Hospital Administration, 6(2), 27-33.
  • Smith, J. (2020). Fundamentals of Healthcare Financial Management. Oxford University Press.
  • Williams, P., & Thomas, M. (2022). Ethical Challenges in Healthcare Financial Reporting. Journal of Business Ethics, 179(1), 105-119.
  • Zhao, H., & Liu, Y. (2018). Hospital Billing and Collection Strategies and Financial Outcomes. Journal of Health Economics, 59, 123-131.

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