AH531 Financial Management Week 1 Assignment Statement of Operations and Financial Statements1

1756 Words May 17th, 2015 8 Pages
Statement of Operations and Financial Operations
Crystal A. Dilliard
Grantham University
AH531 Healthcare Financial Management
Professor Keith LaPrade
April 7, 2015

Statement of Operations and Financial Operations
1. List several efforts that have been enacted by payors to control costs. Several efforts have been enacted by payors to control costs. Many agree healthcare reform and controlling health care costs began as early as the 1960s, when federal funded Medicare, and federal and state funded Medicaid programs, reimbursed institutions for healthcare. Medicare eligible Americans 65 years of age and older, and Medicaid eligible Americans in the low income brackets receive health care coverage under these plans, requiring
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It is this author’s belief that no entities should stand in the way of an individual’s right to seek counsel, regardless of outcome. The ramifications of not suing a HMO could demonstrate no evidence to support efforts to amend the current law, and without legal documents demonstrating the consequences related to denial of care, the rights of patients, to ensure a safe and effective health care, according to standards of practice, may be compromised.
3. What are each of the financial statements commonly called in for-profit health care organizations and in not for-profit care organizations? Financial statements in for-profit health care organizations and in not for-profit care organizations are commonly called statements of, balance sheet reports, operations, changes in net assets, and cash flows (Zelman, McCue, Glick, & Thomas, p. 28-68, 2014).
Statement of operations of not for-profit health care organizations:
1. What is the analogous for-profit statement called? What are the main sections of the statement of operations? The analogous for-profit statement is a traditional income statement, but in a health care organization, it is called the statement of operations. The statement of operations does not show cash flow, yet it reports revenue and expenses of a specific time period. The main sections of the statement of operations include a heading, the body of the report, and

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