Elijah Heart Center

This charge is also another revenue stream for the hospital and contributes to the ROI of the equipment. GE, which is the manufacturer of the equipment, indicates that the equipment has a viable life span of up to 15 years, but the warranty only covers the first 6 years of use (Price, 2011). The above figures are a clear indication that the MRI equipment can provide the hospital with an adequate return on investment. These figures, the machine’s lifespan, and the growing demand for MRI scans serve to justify the purchase of the equipment. Other factors that enhance the returns from the equipment include:

The second segment of the simulation dealt with the acquisition of new equipment for the center. The center wishes to acquire a new high-speed CT scanner, a new X-ray machine, and a new ultrasound system. For each piece of equipment there is the option to buy a new one, buy a refurbished one, lease one on an operating lease or lease one on a capital lease. I chose to buy a new high-speed CT scanner

The document severely lacks pertinent financial information for the three years of operation of the heart clinic. Besides some minimal information of mean revenue and expenses for 2011, the document neglects to offer any other valuable financial information for consideration. This section can be further expanded with details of an income statement, balance sheet and current statement of cash flows. Financial statements can be a healthy management tool to illustrate the success of operating performance to appropriate stakeholders and their constituents.

The board of directors has asked that you provide a 750-word report (double spaced in APA or other Devry-approved format) detailing your strategies and recommendations to improve the financial performance of the hospital. The strategies and recommendations should be as specific as possible and include identifying resources that are necessary to implement the strategies. Also, describe the outcomes expected from implementing your recommendations. Your primary text and journal/website research must be used as a reference to support your analysis. Use at least three references.

FirstHealth Moore Regional Hospital is working on renovations to their hospital. The county has seen growth in the community and with golf tourism to their county in the past few years. To develop the revenue enough to generate a definite bottom line; FirstHealth wanted the county commissioners and the community to support the renovations with the renewal of the ending annual $4.6 million tax support, which outlined about 15 percent of costs. Developing the project a financial transaction group of members developed forecast revenue that involved profit increase from the new physicians, increase from clinical services, and advantages of expense based reimbursement of a CAH. The forecast indicated FirstHealth’s debt expanse of $41 million, FirstHealth would be able to finance the whole expense of the renovation, while depending upon using their own money to retire the $3.3 million of remaining debt. A plan was generated for the renovation project that was inside the $41 million budget. Securing the financing, convincing the county commissioners, and gaining the community support are the three sources of revenue that will assist FirstHealth Moore Regional Hospital in the financial forecasting.

Fourthly, the organization should employ economists and auditors to ensure that the expenses that the organization ventures into are worth and viable. They will also ensure that there is a reduced expense, yet again spending on essential matters. Expanding the organization is also an area where the organization needs to focus. Last but not least, the religious health care organization though it is a non-profit making; the financial autonomy of the organization is of great importance. Therefore, I needs to device other ways of raising money. These would include such methods as starting other investments such as hotels where they can raise funds to run the organization (Mohanty, 2012).

Some keys to success in the industry for the Heartsong Center for Healing and Awakening is directly related to the influence with consumers interested in alternative health methods and the association or recognition from the area physicians, sports clinics, paramedical groups or other health providers providing referrals. Having a good reputation with these professional groups, which provide traditional methods for health care, yet support the need for alternative care providers is essential to building both the contact and client followings.

Another study found that implantation plus maintenance costs for the whole first year after launch for a five-physician practice to be $233,397 or $46,659 per physician (Fleming, Culler, McCorkle, Becker & Ballard, 2011). To justify an expense that large, the exact amount and scope of the expenditure must be reviewed. In Essentials of Healthcare Finance by William O. Cleverly, et. al, he defines the minimum criteria for making such selection to be (1) the need- what are the organization’s goals and strategy; (2) economic feasibility; (3) acceptability- all stakeholders. Once deemed feasible the project will undergo a detailed financial analysis by utilizing the Discounted Cash Flow (DCF) method. The components of a DCF include net present

An investigation is justified of the doctor 's facility framework I work for as to important change to suit social insurance change. My association comprises of two grounds; Providence Hospital downtown campus is known for heart care, while Providence Northeast Hospital is a little broad intense group healing facility. The same numbers of the heart strategies have changed over to perception status rather than inpatient, the framework 's general income has dropped by 56% while the same treatment, consideration, and length of stay remains. This makes operational upgrades basic.

Not to mention that using an operating lease will also keep the cost off the balance sheet. However, after submitting all the choices into the simulator, it was discovered that the recommended choices would have been a refurbished option for the CT, a capital lease for the x-ray machine, and an operation lease for the ultrasound machine.

MMHS is a successful home health service company which has expanded constantly over the intervening 20 years, with further patient growth forecasted in 2012. The home healthcare business is seasonal with 66% of the entire annual sales occurring in the late Fall and Winter months. The evolving expansion of the agency and seasonality of the business makes cash management challenging for Ms. Ringer and has landed her in the predicament of requiring a loan to pay salaries. Aligning operating expenses to revenue, improving management of operating costs and decreasing the amount of cash in accounts receivable will improve her immediate cash flow crisis. For details see prior question.

Authors recommend that we implement new financing techniques based on portfolio theory and securitization techniques to finance the HCLs and connect the repayment to ongoing value. Also, they recommend using securitization to increase diversity in the financing pool to help transform a fragmented system into more connected system that works for a common goal of improving healthcare. According to the authors, adapting improved financial methods is no longer a choice rather it has become an urgent necessity.

The intention of this research paper is to further understand the financial statement of four distinct hospitals located in the San Diego, California County. An analysis of the financial report for Sharp HealthCare, Scripps Health, Tri-City HealthCare, and Palomar Health will be briefly discussed individually on each important financial outcome’s Such as: assets, liabilities, revenue, expenses, hospital debt, and investments. To analyze further, a break down between the hospitals assets, liabilities, and revenue will be compared in the paper.

Acquiring new equipment for such a department is a valuable asset whether it be for the use at a hospital, burn institute or a clinic. Purchasing updated equipment can be worthwhile in years to come with an increase on ROI and cost justification. When a department considers buying a piece of equipment they are also buying a service. Several things have to be taken into consideration such as the cost for pre-installation, trainers, maintenance, IT specialist, surface structure and qualified physicists. Taking into account that not only is the department that purchases the equipment involved it takes effort on everyone to make sure that this piece of equipment runs smoothly. Mainly the objective is to acquire a piece of equipment that will benefit the department and bring about a justifiable increase in the years to come.

MMHS is a successful home health service company which has expanded constantly over the intervening 20 years, with further patient growth forecasted in 2012. The home healthcare business is seasonal with 66% of the entire annual sales occurring in the late Fall and Winter months. The evolving expansion of the agency and seasonality of the business makes cash management challenging for Ms. Ringer and has landed her in the predicament of requiring a loan to pay salaries. Aligning operating expenses to revenue, improving management of operating costs and decreasing the amount of cash in accounts receivable will improve her immediate cash flow crisis. For details see prior question.