The coordination and supervision of a variety of the health care aspects is a skill set that professionals are required to obtain through higher education. Training in health care administration is a program that integrates medical and business aspects to create a strong professional career. Students can pursue this profession by first completing health care administration career study and coursework.Students attending health care administration schools and colleges complete a considerable amount of training due to the work conducted inside the field. Administrators supervise other medical professionals and maintain the management of the entire system at their hospital or clinic. At its most basic administration professionals focus their time and energy on ensuring that the separate aspects of a medical facility run smoothly. Education is offered at every degree level making the profession accessible to all interested students. However, most entry-level careers require employees to have a bachelor’s degree and most employers prefer hiring individuals with a master’s degree.Students typically use undergraduate training to gain the foundation needed to work through graduate degree programs. The introductory aspects of medical transcription, coding, and billing are learned inside an associate’s degree program. Patient interaction and overseeing patient admissions is covered as students work to complete programs. Students that work through bachelors degree programs will have more career opportunities and the ability to enter masters degree programs. The effective delivery of all health care areas is focused on broadly so students understand the medical and business sides to the field. Courses are taken that teach students how to correctly oversee, develop, and deliver medical care. Courses that are integrated into undergraduate training may include:*U.S. Health Care SystemThe system is broken down to examine what professions exist and what responsibilities are carried out inside a facility. Courses like this cover every aspect of today’s healthcare system, which includes long-term care, mental health, tax-support, health promotion, planning, personal coordination, financing, marketing, and more.*EthicsThe issues facing today’s healthcare system is explored. Course subjects will include euthanasia, abortion, life-prolonging technology, and experimentation. These topics are connected to the aspects of leading a facility and understanding moral philosophy.Masters degree programs place a high emphasis on building the skills needed to act as leaders inside the profession. The economic policies, marketing practices, and legal issues involved in the administration of health care are learned as students work through programs. Students learn to monitor finances, policies, human resources, and budgeting problems. Students that continue their education at the doctorate’s level of training study the future of the system. Programs focus on taking student’s knowledge so they can oversee the daily processes of an organization and work on creating policies. Possible courses include:*Health Care LawThe legal issues facing administrators and medical practitioners are explored. Students learn about the regulation factors incorporated into healthcare systems.*Health Care InformationStudents learn to use today’s leading information technology to manage the delivery of medical care. The terminology and practices of information technology are explored in regards to providing patient care.To begin training in this field student’s should find colleges and programs that best fit their lifestyle and are accredited by the Commission on Accreditation Healthcare Management Education ( http://www.cahme.org/ ) or other approved agency. Once an accredited program is completed students can enter the health industry as managers and leaders.DISCLAIMER: Above is a GENERIC OUTLINE and may or may not depict precise methods, courses and/or focuses related to ANY ONE specific school(s) that may or may not be advertised at PETAP.org.Copyright 2010 – All rights reserved by PETAP.org.
Multifamily Commercial Loan
A Multifamily building eligible for commercial financing is defined as a structure having at least 5 or more units with the residences for permanent habitation. The major factor in determining if you can qualify for a multifamily commercial mortgage is the property itself. These are a few key characteristics and considerations on a multifamily commercial building to make it eligible to be financed:The Condition.1. Signed leases with terms of 1 year or greater.2. What are the number of bedrooms and bathrooms.3. What is the history of the vacancy rates.4. Do the units have separate utilities to bill the tenants directly.5. Is your place professionally managed.6. Is there any deferred maintenance, damage or functional obsolescence to address with the building.7. Does the facility have a pool, clubhouse or tennis court and other amenities.8. Is the facility close to employment, education, shopping and attractions with public transportation and access to major streets and expressways nearby.Not only are these characteristics important in determining if your place qualifies for financing, these are major factors in determining its value.The Income.In addition to the condition, the income as compared to the expenses is a key to determine both the value and how much mortgage you can qualify for. The greater the income in relation to expenses the easier it is to qualify for a commercial mortgage. The best rates are offered by the lenders that are both conservative and accept the least risk. The most conservative lenders require 1.5 times the income to the expenses to qualify for financing. If units are in good condition and have a little less income there is still financing available down to as low as 110 per cent of the expenses.The Management Company.The experience of the property manager is also a consideration to financing. If you have purchased a commercial building or are considering doing so and you do not have experience owning or managing the real estate it is important to hire a professional manager. The larger properties almost all have professional management company. When considering smaller units you may believe they are an unnecessary expense, but professional managers increase your ability to qualify to fund commercial project if you do not have management experience.The Owner.Quite often on larger buildings the financing is based solely on the property. But for smaller multi family projects the lenders require a personal guarantee and the review, income, credit and assets just like a residential investment financing. The typical down payment required is 20% to 30% for properties and the lender require the borrower to have reserves for repairs, vacancies and other contingencies.The Loan.Apartment commercial loans are generally structured with terms written with 5, 7, 10, 15, 20, 25, and 30 years terms with or without balloon payments. For this type of commercial loan expect to provide full documentation including:1. Last 3 years of operating statements.2. Year to date operating statement.3. Property rent roll.4. Last 3 years federal tax returns of borrower.5. Personal financial statement(s).6. Digital photos of the subject apartments.There are multifamily commercial mortgage products that can help people with significantly impaired credit, these have higher commercial loan rates. For borrowers with great credit and assets that deserve the best rates, funding is also available.