1. In terms of financial and the NH’s goal of affordable health care, the NH heart hospital could be described as successful. Financially, NH’s income statement from the HBr case file for FYE March 31, 2004 projected an 35,416,000 Rs of after tax profits which offsets a major portion of the loss incurred from the previous fiscal year. The generation of profits for indicate the success of the hospital in its growth from its start in 2001 and its expansion. This performance can be attributed to NH’s plan of leveraging its practitioners’ reputation and high quality care to attract paying customers to offset losses incurred from admitting financially constrained individuals at below break even cost. For FYE 2004, NH generated 63% at above break
In 1997 University of California, San Francisco (UCSF) merged its two public hospitals with Stanford’s two private hospitals. The two separate entities merged together to create a not-for-profit organization titled UCSF Stanford Health Care. The merger between the health systems at UCSF and Stanford seemed like a good idea due to the similar missions, proximity of institutions, increased financial pressure with cutbacks in Medicare reimbursements followed by a dramatic increase in managed care organizations. The first year UCSF Stanford Health Care produced a profit of $22 million, however three years later the health system had lost a total of $176 million (“UCSF-Stanford Merger,” n.d.). The first part of this paper will address reasons
The finance department has reported that Elijah Health Center is facing a potential working capital shortfall which means the hospital may not have enough cash to sustain itself. The reasons for this shortfall is due to huge discounts given to managed care companies, higher wages given to contract nurses, low Medicare reimbursement levels, growth in current liabilities, and unused equipment. I will provide the best strategy in order to sustain the cash flow problem that Elijah Heart Center is facing. My strategy will consist of three phases. These phases include: capital shortage, funding options for equipment acquisition and funding options for
The Elijah Heart Center (EHC) has started seeing and realizing that the financial burdens that are starting to increase cost of staffing, the decreasing amount of reimbursements, the gathering of loans for expansion, and the costs of continuation of upgrading equipment is starting to seriously show strains and obstacles. From my analyzations EHC has to start projecting developments of series of options to create reductions in costs and to improve a stable amount of income. These decisions can be highly influential and by addressing these problems can secure long term goals and short term goals that can be reached to make EHC a more profitable organization.
This is a stimulation review of a cardiac care unit that is facing working capital shortages. As the lead financial consultant brought into address the financial indicators and evaluate to bring working capital back to in order at the Elijah Heart Center (EHC). The other financial analyst will focused around addressing issues as they relate to this particular cardiac care unit; what funding can be acquired to garner medical equipment; what funds can be used for capital expansion; finally a summation of findings and a conclusion of what the overall stimulation showed, in regards to how through the analyst were.
The HCS 405 week 1 financial terms worksheet throws light on some of the most basic concepts of the healthcare business. Understanding health care financial terms is a prerequisite for both academic and professional success. The health care business helps the nation by providing the building blocks that the citizens need to live a successful and healthy life. The worksheet is intended to ensure that the students understand some of the basic terms used in the business world of the health care industry. The purpose of HCS 405 individual and team assignments is to make the students aware about the numerous strategies employed in the financial and other departments of a
Regulations that prevent insurance companies from participating in interstate commerce have caused competition to grow stagnant in the United States. This lack of competition has allowed the adoption of wasteful procedures by healthcare providers, which in turn passes the increased expenses back to the insurance companies. Therein, insurance costs increase, crippling consumer’s cash flow and quality of life. While healthcare costs continue to rise, people must scrutinize the current healthcare system.
The federal exchange and the local governments launched their affordable healthcare system on October 1, 2013. Their system crashed, timed out and or froze before consumers could were able to complete their applications. There was one state that outperformed the federal government’s exchange. This state had the only up and running system since the beginning. This was the state of Kentucky. Kentucky, under the advisement of Sparx, their outside contracted IT experts, used a reusable framework which gave them a head start to this large statewide project. This project duration was little over 27 months of constant planning, designing, and development of this state level exchange.
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.
What I currently view as an Economic issue would be the rising costs of Health Care, everyone needs Healthcare, but because of how expensive it is, most of the population cannot afford it. Even if people do have Health Care, they cannot afford paying the high premiums, out of pocket and high deductibles. Health care might not seem like an important topic, but is necessary for the daily lives of people, nobody knows what will happen in the next second of their lives. Everyone needs affordable health care and I think that reducing the cost of health care and making it possible for everyone to afford it would make everyone happy.
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.
Paradise Hospital, Inc. is a for-profit hospital. As the facility’s new hospital administrator, you have been tasked with improving the service value of the hospital. The administration has not done this process since the hospital began operating in the year 1995. The investors are not familiar with the value proposition strategies of hospitals in the current day America.
The CEO has joined the River Hospital and noticed some weakness in the organization. The Hospital decline in profitability between 2011 and 2012 has not been moderated by the recent modest upturn. Too much time is being spent on the issue of the hospital financial condition, whereas there is a lot more to go through and focus more on developing the weakness of the hospital.
The problem at Memorial Hospital is the focus on costs instead of health care. When a health care provider does not take the primary business as the core value of the operation and make strategic and tactical decisions based primary on costs, it decreases the consumers’ (patients) satisfaction in long run. As consumers reduce or stop purchasing goods and services from the hospital, hospital may make more cost oriented decisions and falls into a negative cycle. Eventually the hospital may face the fate of loosing business to competitors and the possibility of closing the door.
The Healthcare Project, is used to help students get an opportunity to dig into the health insurance system and familiarize ourselves with facts to help better protect ourselves and families from accidents and illness that may come unnoticed. This project will consist of a cost/benefit analysis of two sets of data. The first being that I am twenty two years old and I am a fully functioning and healthy adult with an annual income of 21,000 dollars. Second being that I am twenty two years old and I have type one diabetes with an annual income of 21,000 dollars. These two differences in health could cause a change in health care choices because of the premiums, deductibles, copays, coinsurances and out of pocket cost.
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