Financial Ratios for Patton-Fuller Community Hospital Essay examples

Our vision is to be the hospital of choice for patients, employees, physicians, volunteers, and the community.

Opportunities Abilities to expand in hospital departments and health care services in facility. Location of hospital serves a large population area. Easy of public transportation to the hospital.

Patton Fuller Community Hospital (PFCH) has been a not for profit healthcare facility since 1975 with a focus on providing the highest quality of healthcare. PFCH specializes in the following services; emergency medical care, specialized surgical procedures, baby delivery and prenatal care, physical therapy, and has a well-established radiology department. Being one of the primary healthcare facilities in their area, PFCH has raised the bar by providing a diverse selection of health programs that support the local community. This paper will review the current business systems in place, suggest improvements and provide how those changes could overall improve PFCH, both internally and externally.

We ask our stakeholders to look into our following recommendations. Money and recruiting physicians (primary care) are the two of the biggest components that would lead to successfully turning the

You have been the CEO of Middlefield Hospital for 2 1/2 years and finally resolved the workforce challenges that plagued the hospital when you first arrived. In a recent meeting, the chief financial officer (CFO) indicated that the financial performance of the hospital has been deteriorating over the last 6 months. The hospital is not meeting its budget and he is concerned about the future. The new facility across town has continued to cut into Middlefield's market share by admitting more patients. The number of admissions to Middlefield Hospital is declining each month, and

As CEO of Middlefield hospital I am recommending that do a couple things to improve the current financial performance of the hospital. First I feel like we have to become more competitive with the new hospital. First we need to go in and visit their facility to see what they have over there and what they are doing differently to make all of our patients that have been coming here

Since most specialty procedures are inpatient services, EMC’s inpatient occupancy rate suffers. The occupancy rate for Emanuel Medical Center – fifty percent – is far below that of its competitors and industry benchmarks. To accompany this, EMC (on average) receives a lower reimbursement for in-patient Medicare services per patient seen in comparison to its competitors. A result such as this is correlated with directly to the fewer amount of specialty services that EMC offers. In order for Emanuel Medical Center to be able to compete with other hospitals in its service area, it is imperative that EMC evaluates what services they currently offer and are capable to offer in the future to add value to the hospital, increase its revenue stream, and expand its patient mix. Currently, Emanuel Medical Center has not succumbed to its increasing financial pressurealthough EMC has had a negative operating income for five straight years. A negative operating income places EMC at a disadvantage because it limits the hospitals ability to renovate its aging building or hire new specialists to offer revenue enhancing procedures. EMC’s competitors, on the other hand, have large sources of revenue due to their mergers with large healthcare networks such as Catholic Healthcare West. Another competitor, Kaiser Permanente Modesto Medical Center, has extremely large financial resources due to the fact

While Carson is developing a financial plan, she should also look to develop a completely new strategic plan for the company that sets the tone for how the company is going to direct itself for the next 3-5 years. This is another good opportunity to get the board involved and to make them a part of the conversation of what direction they want to move the company toward in the coming years. Carson should stress the companies market position with them and what they could do to improve on that position. Barclay Memorial is licensed for 400 beds but last year operated only 275 beds with an average daily census of 249 patients. Despite these low numbers, the number of deliveries last year was at an all time high with 3,216 and this number is likely to increase the following year. Surgeries also totaled 6,201, which has the potential to increase, if Carson can get the hospital on board with expanding the number of surgeons at the hospital to handle increasing patient volumes. Orthopedics should also be a topic of conversation as it is in a position to grow in the future. By looking to improve on these services, Barclay Memorial can expect to improve on their position in the market.

In general, the core benefit the hospital offers is health care. The tangible and intangible components of the experience that spin-off from the center may include the various departments, various personnel, equipment and supplies, etc.

1.The Days Receivables increase, again effectively removing millions in cash from the facility and leaving it in the hands of the payers. Due to the accounting method used at the hospital (Provision for Doubtful Accounts is shown as an “expense” and does not directly reduce “Net Patient Revenue”), the effect of the $4,224 audit adjustment was not as apparent in this ratio.

Corporations have an influence as well because they do major business with hospitals and these entities do not want to be tied to a company who is not following protocol when handling patients. The Universal Human Care Hospital has a large amount of patients; which helps drive business for the organization. These three external stakeholders are important to bringing money into the organization, but also that the community and other corporations are just as important because each has something different to bring the success of the hospital.

Through the Internet, massive amounts of information are just a click away. Healthcare professionals, media, and government agencies encourage people to make informed decisions pertaining to their health. Therefore, people may choose their hospitals through reported statistics. Governing organizations motivate hospitals by what they required to report. Hospitals are analyzing expenses to cut costs and improve the quality of care. Consequently, institutions inspire hospitals through financial awards or prestigious designations to move forward.

Highlighted below is Patton-Fuller Hospital's statement of revenue and expenses showing the income earning trends between 2009 and 2010. Succeeding the statement of revenue and expenses it the balance sheet for the two years showing changes experienced.

HCA, after following a conservative financial policy since its establishment, has entered the new decade preparing to make some changes in order to realign their financial strategy and capital structure. Since establishment, HCA has often been used as a measure for the entire proprietary hospital industry. Is it now time for the market to realign their expectations for the industry as a whole? HCA has target goals which need to be met in order to accomplish milestones in the future. The problem arises as to which area holds priority to the company. HCA must decide how the key components of their financial strategy and policy should my approached in order

This paper examines financial ratio analysis by defining, the three groups of stakeholders that use financial ratios, the five different kinds of ratios used and their applications, the analytical tools used in analysis, and finally financial ratio analysis limitations and benefits.