Health Services Finance Week 7 Discussion Questions (6) Experts only! Scholarly responses are required. *Please answer each question individually and accurately. Must cite any and all references in APA format. Label each solution with the corresponding question. Copy and pasted solutions will NOT be accepted. Minimum 2-3 quality paragraphs per question. Part A: HMO, MCO and Health Plans 1. Discuss legal and regulatory issues that affect MCOs. 2. What is health maintenance organization (HMO)? Discuss the functions health plans perform to justify their positions in the health marketplace. 3. You have been hired as a consultant to a major health insurance company to help identify ways to reduce payments for healthcare benefits. Please identify some possible methods that may be useful in cutting costs. Part B: Financial Policy 1. Describe the relationship between financial planning and strategic planning. 2. Explain the four steps involved in the development of a financial plan. 3. As a healthcare administrator, discuss the essential components you include in your strategic planning. Who are the key players you would include in the planning process? Please share your thoughts with the class.