Health Care Finance: Financial Statement Analysis

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The Northeast Health Council, INC was established in 1993 to meet the primary healthcare needs of the residents of the Northeast through a not-for-profit community-responsible approach. A nonprofit analysis helps nonprofit executives and board members understand their organization’s underlying fiscal health and readiness for change and growth. The analysis is a critical tool for Northeast Health Council planning for program expansion, organizational restructuring and/or realignment, financial and fundraising challenges, new executive and board leadership, a new capital project, or acquisition or merger with another nonprofit organization (such as the local health clinic). The Northeast Health Council’s analysis helps its executives and…show more content…
I believe the financial health of Northeast Health Council is bounced back from just 3 years ago, it is not only serving the community (low-income) but is also successfully supplying more and more job opportunities as they expand. I think the industry trend that has impacted this organizations financial performance is the Health Care Reform or Obama Care, thus more new patients. This trend has pushed more people to vie for the need of cheaper health and dental coverage, Health Council does just that. Health Council offers a sliding fee to those who are unable to afford expensive care, they accept all government assistance and aide for health services. Contingencies such as lawsuits and federal, state and local regulations are reasonably possible because they are not in Health Council control and can occur at any time; they will have a material adverse effect on its financial condition or results of operations if some of them occur. As CFO, I would push JACHO and OSHA standards and have monthly or even weekly safety briefings to ensure all of my staff is well educated and well versed on any and all types of situations. I would adhere to strict “no phone” policies when staff are with or around patients to avoid miscommunication and/or negligence. In general, the company had a good fiscal year. It improved its ability to generate profit. All of the main
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