Health Care Case Study: Financial Statements
University of Phoenix
Health Care Financial Accounting
HCS/405
December 06, 2010
Health Care Case Study: Financial Statements
This paper is a health care case study of financial statements for Patton-Fuller Community Hospital. This summary is a review of the annual report and financial statements and the differences between the audited and the unaudited statements. The financial ratios are examined to determine if there has been improvement from 2008 to 2009 and to explain the cause. This paper will also summarize the relationship between revenue sources and expenses and explain the effect of revenue sources on financial reporting. The summary will also determine how the hospital’s
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Effect of Revenue on Financial Reporting
The expense report, which consists of assets from both an audited and unaudited annual report dated from 2008 to 2009, is the total of revenue acquired throughout the year. It is important to review the balance sheet and to understand the T account. The T account displays the two sides of the report: the left side indicates the debits and the right side indicates the credits. In the unaudited balance sheet in 2009
This paper will address the ratio computations to Patton-Fuller Community Hospital taken from Audited and Unaudited Reports from 2008-2009. From 2008-2009 the existing assets reduced, but showed a growth in the hospital’s responsibilities. The hospital is presently making adequate revenue to cover the debts, which equals to no profit. Revenue needs to rise to avoid the debts of the hospital from increasing. Providing excellence service will in turn increase the quantity of patients seen eventually increasing revenue.
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.
On Monday, September 14, 2015 at approximately 12:45pm Kathleen A. Kane provided me with information pertaining to Mr. Sutherland whereabouts. According to the hospital records Mr. Sutherland return on 9/11/15 to the hospital and was admitted to 5-Central room 236B located in the Greenberg Pavilion.
My client’s, Miles Meredith, goals are to decrease disease risk, body fat, as well as improve strength, flexibility, and performance. The physical examination determined that Miles is 5 feet 8 inches tall, weighs 166lbs, and has a waist circumference of 34 inches. That puts him at a BMI of 25.24. According to the skinfold test his body fat percentage is at 15%. His other vitals are all within normal ranges. His resting heart rate is 76 bpm, and he has a resting blood pressure of 78/110 mmHg.
Ms. Choi indicated that the marriage continued to deteriorate. The mother stated that she became unhappy with his behavior. The arguments between the parents became more intense and violent. Ms. Choi reported in 2009, the father continued to be physically abusive towards her.
On Tuesday 06/27/2017, veteran Mr. Saenz walked very angrily in my office with his wife about 11:00 AM. I greeted them and offered to sit down; Mr. Saenz and Mrs. Saenz were very upset and asked me where they need to go as they have VA examination, they both said “nobody tells them anything; they have been sitting in waiting room”. They told me that the lady on the desk told them to come to me.
Certainly, Accountable Care System(ACS) or accountable Care Organization (ACO), which is an entity that can implement organized process for improving quality and controlling the cost of care, and can also then be held accountable for these care results and the resultant costs associated with the outcomes. In this system, outpatient, rehab, long-term care, and even palliative care would be the responsibility of the ACS (Berkowitz 2017, page 37)
The first section to be filled out on the CMS 1500 form in boxes one through 13 include patient demographic information as well as insurance information. This information is captured to ensure the proper claim is associated with the correct patient.
At 1:30 pm, 9/3/17, dispatch received a 999 call regarding concerns about an individual male at the address of John Foster room 1.57, Liverpool. The caller identified himself as Mark, He rang because he was worried about his ex-partner, a male individual. He advised police handlers that due a recent break up with his ex-partner the male individual had been rather sad, Mark has attempted to contact his ex-partner but despite attempts Mark has had no contact with the male individual.
The following pages present a brief analysis of sample data from one healthcare organization. Accompanying this written report are spreadsheets of the company's financial data its balance sheet and its statement of revenue and expenses that provide not only the figures from the audited reports of the hospital examined, but also show the change from year to year on each item as both a dollar amount and a percentage. Changes of more than five percent are considered worthy of discussion, and as these documents show much
As seen in this case study, TM was listed as a full code and no GOC conversation was had between the physicians and the patient until the day of his discharge to home. This led to an unnecessary swallowing study in which the patient needed to be uncomfortably scoped. Due to the lack of GOC conversation the patient also chose to go home with general nursing services instead of end-of-life (EOL) hospice support. In the inpatient medical oncology floors of a large teaching hospital like this one, most patients are covered by rotating interns and residents that are not comfortable having GOC conversations with patients and leave it up to the primary physician to come and discuss.
The article describes about the two main perspectives related to the contracting for Managed Care Services including from the general issues to specific details in a deep of contract and many practical issues as well as the specifics of each provider type. In modern medical industry, Managed Care Service contracting process is becoming more important because complex business relationship in medical industry goes through the renewed Government regulations and accreditation requirements, and it always require high quality of care accompanying with additional risk by the service providers. The author points out the negotiation is very essential for both sides, and in order to endorse on very good written agreement, both sides obligate to be aware their rights and responsibilities as well as all
Medicaid’s financial reimbursement to healthcare providers does not always appeal to the financial sector of the medical community. Once the threshold of maximum, minimum number of Medicaid participants a physician is required to accept is needs to meet, physicians stop accepting that form of healthcare coverage. Obviously, with a shortage of physicians not only in Lackawanna County Pennsylvania, but nationwide. This is possessing the problem of making healthcare more accessible. Medicaid requires the most economical effective choice to participants, to provide health coverage which maybe one reason doctors are rejecting any kind of government-sponsored health care insurance. Corporate and small business that support the economy have also felt
The role of finance in Health Care Systems, Inc. as a regional not-for-profit hospital relates to both the accounting and financial management aspects of the business. Facets of both accounting and financial management are intertwined with maximizing productivity by way of managing and analyzing financial operations to ensure resources are being utilized properly (Gapensiki, 2013). The divulgence of financial reports to managers and investors will aid in the development of plans and budgets for future growth, assess acceptable levels of financial risk, manage contracts appropriately and make decisions related to capital investments allowing the organization to expand service offerings thereby demonstrating greater value in the community. Operating as a not-for-profit entity requires that the hospital operate exclusively in the interest of the public for a charitable purpose. Through understanding who the primary third party payers
In my opinion the Health Care System of the US is unjust. Especially, now that everyone has to have health insurance otherwise be fined for it. Supposedly it is based on the income of the house hold not what the person he/she makes. So that persons ends paying more than he/she can afford. Since the sum for the health care is too much for the person, they believe that it’s not worth the cost. And he/she is better off without it especially if he/she doesn’t go to the doctor’s as much. As soon as the person realizes this, he/she is told that is they don’t get health insurance then every tax year they will have to pay a fee and every year he/she still doesn’t have health insurance the fine will be double. The other unjust part of the Health Care