Accounting And Cash Flow Has Been Part Of Our History Since 3000 B.c

The health plan rate has been increasing at least 20% each year and has added significantly to the hospital’s operational cost. We will also create questionnaires and perform surveys and inform our employees of our financial issues and why the health plan needs to be restructured with marginally higher co-pays, prescription costs, and deductibles. The results of this information will shared with hospital staff to determine health plan will offer the best solution for our organization.

Globally, the United States has one of the largest and most convoluted healthcare systems, whereas universal healthcare coverage seems extremely farfetched. Annually, the US spends over $3 trillion on healthcare. Nevertheless, we have the worst health outcomes when compared to other industrialized countries. As stated by Anja Rudiger (2008), “Recent data suggest that around 101,000 deaths a year can be attributed to the underperformance of the US healthcare system.” Thus, the United States’ healthcare system greatly relies on revenue. Both funding and the distribution of services are commercially structured and held accountable by investors to increase financial gains. According to Andrew Jameton and Jessica Pierce (1997), “the US healthcare system increasing appears to have

Decrease in funding is another economic challenge in health care. The amount of finances coming from various sources not just the

Public not-for-profit hospitals are dependent upon tax-based support for their government sponsors and from patient revenues. Capital budgeting can be financed through government bonds that must be voted upon during elections. Under these circumstances, it is difficult to maintain current equipment and capital

The main economic challenge for the healthcare system in the United State will be the rising expenses associated with Medicare and Medicaid. The Governments share of healthcare spending is predicted to rise to 31 percent by the year 2020 (Keehan, Sisko, Truffer, Poisal, Cuckler, Madison, Lizonitz, and Smith, 2011). This may jeopardize the economic stability and financial security of the nation.

According to the simulation, the options that I chose were the optimum choices for this situation. Any other cost cutting technique ran the risk of affecting quality of care either directly or indirectly through lower employee morale. The loan option was the best choice for a reason that I overlooked. The organization was getting a guaranteed payment in three months ensuring that the loan could be repaid in full saving thousands paid out in interest.

The health care system is one of the largest industries in the nation. It employs nearly twelve and a half million people. Even though this many people are employed by health care systems, there is little to no competition between the many different systems. This results in the cost being whatever the system wants. People who are ill or

Uncontrollable skyrocketing health care costs not only effect our economy but every American pocket book. The Obamacare Act was the most important healthcare reform enacted since Medicare/Medicaid was created in 1965 (Jama, 2016). The Affordable Care Act has made a substantial progress in solving the challenges U.S healthcare faced for decades. The uninsured rate was dropped from 16.0% in 2010 to 9.0% in 2015 (Jama, 2016). Not only has the ACA delivered an access to quality

Throughout the past few years the healthcare industry has taken some precautions due to the recent bill passed that affect it, that being the healthcare reform or the Affordable Care Act (Kavilanz, 2010). In the past years healthcare has not been a concern of the average American, but this is changing rapidly. Though in 2014 healthcare was not among the top three concerns it did fall at number four (Cook, 2015). While at number four on the list last year it’s surely to increase in concern as the healthcare act becomes in full swing in 2015 (Cook, 2015). As Lindsay cook points out in her U.S News article on health care 2015 will be the year doctors see a pay cut and Americans without insurance see a penalty (Cook, 2015). Just like the rule of supply and demand, when the money supply of hardworking Americans decrease, the demand or concern in this case will increase.

“Representing over 20 percent of the U.S. Gross Domestic Product and accounting for approximately $1.5 trillion in revenue, health care is the single largest industry in the U.S. today.” (University of Phoenix, 2015). However, it is a vulnerable industry. The facility we are looking at is in New York, where the third highest losses in the country occur because of numerous problems dealing with Medicare and Medicaid reimbursements, cuts in funding, and pressures for discounted managed care, amongst others. The facility is called Elijah Heart Center (EHC). First we looked at the capital shortage because in an emergency, the hospital might not have enough cash to sustain itself. The challenge was to decide on the best strategy to solve the

The accounting system we use today started in Venice in renaissance period over 520 years ago. The trade business increased hugely during this time and all the financial recordings had to be written down to help people see how their business is doing. During that time in 1494 the first book about was published in accounting by Luca Paciolli and was called “The Collected Knowledge of Arithmetic, Geometry, Proportion and Proportionality”. He was called “The father of Accounting” and most of his described principles have been used up until this day.

The healthcare system plays a key role in the economic stability of our country, as every year trillions are spent in attempt to combat disease and health issues that plaque humanity. As it makes up a significant amount of the expenditures in the economy, so the costs associated with health care of those in pain from illness and injury, including lost productivity, increased need of assistance in living and also the cost of death in some cases, is important to the economic stability and over all standard of living in our country. The key to economic prosperity is balancing the need for care with the costs of illness to keep as many people healthy and well without breaking the bank of collective society. The costs of healthcare have been increasingly problematic in recent years with so many issues surrounding the current system. With the “total health care spending in the United States expected to reach $4.8 trillion in 2021, up from $2.6 trillion in 2010 and $75 billion in 1970, meaning that health care spending will account for nearly 20 percent of gross domestic product (GDP), or one-fifth of the U.S. economy, by 2021” (Aetna). With this in mind it is apparent that as we look at the trillion-dollar industry of the medical community it seems that it needs to be a major focus of our nation as a whole and with the many issues come many creative solutions. First let us analyze the reasons behind the current cost and the major problems facing this industry and than discus what

Ancient accounting started way back during the ancient civilization. However, double-entry bookkeeping started in the 14th century in Italy. The Italians of the 14th to 16th century were the first to practice the use of Arabic, rather than Roman, numerals for tracking business accounts. Luca Pacioli was acknowledged as the Father of Accounting and Bookkeeping. However, he was not the one who invented the double-entry bookkeeping system but he was the one who started to spread this knowledge and the first to publish his work on this system. The principles published by him remain mostly unchanged until today. Before his work, Benedetto Cotrugli wrote Delia Mercatura et del Mercante Perfetto (Of Trading and the Perfect Trader), that touches briefly about the features of double entry bookkeeping. Although the work of Benedetto Cotrugli had not been published for more than a century, Pacioli was familiar with the manuscript and he credited Cotrugli as the creator of the

It has been become an issue of great concern that the accounting profession must find a common theory in order to address and put the issue at rest. This therefore, has called for the study of this topic under review “the demand for and supply of accounting theories: the market for excuses. As a result of this several questions have been raised. For instance, the question of why accounting theories are predominantly normative has been put forward by this article? Secondly, why no single theory in accounting profession that is generally or widely accepted? It has been argued that the financial accounting theories have been found to be ineffective most especially in the area of impacting accounting practice and policy, though, this has been

Accounting can be defined in a number of ways, but I chose the book definition, which is; Accounting is an information system that provides reports to stakeholders about the economic activities and condition of business. The person in charge of accounting is called the accountant. The accountant is typically required to follow a set of rules and regulations. These rules and regulations are called the General Accepted Accounting Principles. Throughout these next few paragraphs, I will be giving you the history and evolution of accounting, and I will be explaining who the stakeholders are and what type of information they require, and I will be explaining the role of accounting in business. There will be many examples and type of business