Hc A Influence On Healthcare

HCA rose from humble beginnings as a physician owned hospital (Park View Hospital) in Nashville, Tennessee. Park View Hospital was originally founded by Thomas Frist, Sr., in 1960. In response to his experiences managing growing hospital needs, Frist Sr., along with his son, Dr. Thomas Frist, Jr. and business partner Jack C. Massey, formed the Hospital Corporation of America (HCA) in 1968. Investors were recruited for a 1969 Initial Public Offering on the New York Stock Exchange.

In accrual accounting, an expense is recognized when the business is obligated to pay it. As goods or services are invoiced, the invoices are posted and counted as assets. Expenses are also posted at the time they are incurred. Accrual accounting is used at most mid-level and large businesses and provides a more accurate picture of the company’s current condition, it is however more expensive to implement. This type of accounting is required by GAAP. Although this type of accounting is more complex, it allows one to track receivables and payables, and match revenues to expenses, which gives more meaning to financial reports.

In 1974, a company called Charter Med Incorporated was founded by a group of physicians and health care professionals who was focused on expanding health care coverage options for consumers. Several years later in 1977, United HealthCare Corporation was created to reorganize the company and it became the parent company of Charter Med Incorporated. Its background traces back to a Doctor named Paul Ellwood, and he was known as the health-policy expert who coined the term “health maintenance organization” in the 1960’s and he helped entrepreneur Richard Burke found the company in 1977. During

Nonprofit hospitals have become a common characteristic of the hospital sector because they can be found across the country because of their presence in almost every corner, they never decline to provide treatment, and offer several community-based health programs. On the contrary, the for-profit health facilities are regarded as the corporate model of health care services as they seek to make profit first. They enjoy huge capital that enables them to develop state-of-the-art facilities and purchase the latest clinical technologies.

The American Hospital Association (AHA)represents a large number of member hospitals. This group has a significant voice in policy making. The CEO and CMO should actively engage the AHA and participate in efforts to present the issues to CMS. This engagement needs to be proactive and direct. There needs to active participation with AHA committees and task forces that are involved in this process. The System need to provide the resources need to facilitate this participation. In addition the system may need to consider financial support for the political action groups of the

HCA is a healthcare provider that was established in 1968. Their main focus is on offering cliental with a number of different services to include: inpatient, intensive care, outpatient, diagnostic and emergency services. To achieve these objectives they operate a variety of facilities such as: outpatient, psychiatric, surgery centers, freestanding emergency care facilities, diagnostic / imaging centers and comprehensive rehabilitation / physical therapy centers. They are structured to create increasing earnings for its policy and shareholders. This is achieved by contracting with private doctors to deliver services to its preferred providers members. At the same time, they receive fees from these entities and they negotiate lower group rates.

Florida Hospital is a non-profit hospital, which means the money goes back into patient care. Florida Hospital includes the human aspects in all levels of their organization. They are committed “to improving the quality of life of their patients, family, friends and neighbors to guide them in everything they do. Not just in “Central Florida, but around the globe as well” (Florida Hospital,2016). President/CEO Florida Hospital Lars Houmann said “through our many programs and services, Florida Hospital takes that seed and helps it blossom. We’ve done this through an investment of more than $1.8 billion in our community. Our branches reach far beyond our eight-campus facility and deep into the roots of Central Florida, where every day we cultivate hope and healing. With our collaboration and support, we’ve helped nurture our community in ways that impact the health and happiness of our friends and neighbors” (Florida Hospital cares community benefit report, 2016). Florida Hospital depicts an example of human resource perspective of management through their employee programs, as well as through their community partnerships and outreach.

Hospitals implement HCAHPS with the support of the Hospital Quality Alliance (HQA), a public or private partnership that includes key hospital and medical associations, consumer groups, measurement and accrediting bodies and government agencies that have the same interest in improving the quality of hospitals. The Hospital Quality Alliance (HQA) program that is overseen by and public and private entities, that include the Centers for Medicare and Medicaid Services (CMS) as well as the Joint Commission, is dominating this effort in the hospital district, generating reports quarterly on the delivery of effective services for mutual conditions. Even though the Hospital Quality Alliance has made this data more available to the public, there has not been enough information on the quality of hospital care from a patients ' point of view. As the Institute of Medicine shows, the foundation of patient centered care is a key factor to having a premium health care system. The HQA backs HCAHPS.

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.

Florida Hospital was founded in Orlando by the Seventh Day Adventist church in 1908. It is part of a 46-hospital network, with 20 nursing homes and 25 health care agencies extending across 12 states that make up Adventist Health System (AHS). AHS is one of the nation’s largest hospital systems, and is a not-for-profit healthcare organization.

More and more integrated hospitals and other providers are becoming prevalent in our community; two large systems in the Dallas Fort Worth area are Texas Health Resources and the Baylor Scott White systems. What exactly are these integrated hospital systems? An integrated healthcare system is one that through official agreements or ownership sets up a horizontal and vertical line of healthcare facilities and services to better deliver seamless healthcare to patients. An example to use is Texas Health Resources since its found in most corners of the Metroplex. With any large corporation and system comes confusion and other problems: such as regulatory obstacles, the complexity of operations, and unclear financial ownerships. Integrated healthcare systems appear at face value to be the solution to curbing the

While net cash is critical to determine the ability of the organization to meet its immediate requirements, the non-cash factors that are included in the net income calculation portray a more accurate view of the long-term profitability. Also because of the timing differences between when revenue and expenses are recognized, the accrual method behind the net income model will produce visibility that is more accurate. For example, a month that produces low volume of sales and a high volume of receivable could produce a positive cash flow when in reality that low sales volume will negatively affect the subsequent months. This variance would be visible in the net income but would not be visible in net cash.

For the purpose of this discussion, I have chosen to write about my current employer, HCA, INC. HCA is considered to be of the largest for-profit hospital conglomerates in the United States. We currently own and operate a total of 176 acute care hospitals and 79 outpatient surgery centers in the U.S. and 8 hospitals in Europe

The Jackson Memorial Health System is based in Miami. This not-for-profit, county run organization has multiple sites, the main one being Jackson Memorial Hospital. The hospital has over 1550 licensed beds and is a teaching facility for the medical school at the University of Miami (JHS Miami, 2012). While the JHS has a number of different programs and facilities, it is important from the perspective of central management to understand the position that each has in the marketplace. JHS has a significant market share, as it is the largest hospital in Miami-Dade County. Its size and its mandate to serve the residents of the country regardless of ability to pay ensures a strong customer flow and substantial market share. The hospital's total revenue for the latest fiscal year was $4.8 billion, and on this it lost $34 million, an amount the county covers through a sales tax levy (Becker's, 2012).

The revenue recognition principle is a foundation of accrual accounting and one of the main principles of GAAP. The revenue recognition principle is a set of guidelines that helps accountants to identify when a revenue event has taken place and how to appropriately record cash exchanges before, during, and after the revenue event. According to the revenue recognition principal, revenue must (1) be realized or realizable and (2) earned, in order to be recognized. According to the SEC revenue is realized when (1) Persuasive evidence of an arrangement exists, (2) Delivery has occurred or services have been rendered, (3) The seller’s price to the buyer is fixed or determinable, and (4) Collectability is reasonably assured. It is essential