Sutter Health : A Non Profit Public Based- Healthcare System

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

Imagine a business that could not properly handle its debts or collections. Now imagine that this same business never had real-time information to analyze, make important financial decisions, or could not set any benchmarks and received all information 30 days late. Do you think this business could survive? The answer is yes, in this paper we will discuss California Sutter Health which was in that situation and what they did to turn themselves around.

Ever evolving technology, scientific breakthroughs, extended life expectancy, and unemployment often involves leads to a high level of uncollectible accounts within the healthcare industry When a patient receive services provided by a healthcare facility or physician’s office patient financial services gather patient demographics, insurance information, and income information. The information provided by the patient is reviewed to determine their financial status thereby determining their ability to pay for healthcare services. When the patient is deemed, they cannot afford to pay for medical services they determine if the services would be categorized as free services, or a sliding scale/discounted services. If services are provided free of charge or on a discounted rate, then the services are exempt from tax and is categorized as a charitable item thereby the service is recordable under uncollectible items as charity services versus an uncollectible debt.

Revenue determination is an important tool for health care organizations because it allows for efficient management of payment systems. This paper will look at the different components that form the payment-determination bases of revenue determination. Moreover, the difference between specific and bundled service payments will be discussed. Lastly, the three ways health care providers control their revenue function will be highlighted.

Managers who are managing health care organizations must be attentive to the accounting practices and must obey and practice the financial management procedures to be able to solve any issues if any should arise. With the continuation of the high costs of health care managers as well as consumers must know how to budget carefully. According to All Business. (2010), the cost of providing health care services, patients way of payment for these services and the environment in which those patients reside and receive those services are important elements that affect the care this is or may not be

Thank you for speaking with me this morning about the project management position available with Sutter Health, Sacramento. Your insights and position description information were very helpful in understanding what role the organization is seeking to fill with their next Project Coordinator. I am confident in my skills, knowledge, education and ability in Project Management and Public Policy and Administration would make me a good fit to fulfill the roles, responsibilities and duties outlined in the position description; to organize their project processes and report and present information on project outcomes to interested stakeholders, team members, staff and clients etc.

This course is designed as an introduction to the terminology, processes, functions, and financial reports commonly encountered in health care operations. This course introduces the concepts of basic managerial financial functions, such as budgeting, reimbursement methods, and the responsibilities of health care financial

Controlling is ensuring the validity and accuracy of all financial information within the firm. Controlling will become very profound as the industry overall undergoes fundamental change in regards to operations. Legislation imposed by the federal government regulates, to a certain extent, how health care organizations operate. As such, management must be able to control costs and assess the validity of the financially information presented to them. If the organization fails to do so, the results could be devastating. First, loses will occur due to the excessive lack of control. The organization may be forced to lower spending in some areas of compensate for the aggressive spending in others. In addition, the reputation of the firm could be harmed. Patients and other vendors may be unlikely do business with the firm for fear of the company's lack of financial security. Therefore, in order to ensure the continuity of the business, the firm must have adequate methods by which to check the validity of its financial information. Third party audits, independent audits, check and balances and management oversight all will help ensure that the overall financial position of the firm is sound and credible.

Before beginning the project, Sutter Health identified several areas in which the project needed to focus. There are three identified problems that would result in the staff of Sutter Health being unable to workefficiently. First, the patient financial services Staff or PFS could not access real-time information on key financial and operational indicators such as A/R days and cash collections. To manage this problem they needed to be able to track progress or make important decisions, managers and staff had to wait until the end of the month to do so. Next issue that they acknowledged was the hospital’s accounting system did not allow managers to isolate and analyze select data or generate reports on demand to the level of detail required. Fixing this resulted in the region having to rely on specially trained programmers to develop the reports, which would be costly and cause delays in identifying and correcting the problems. The third problem identified was the central business office (CBO) staff also suffered from the lack of

* Revenue: Patient service revenue be reported net of estimated adjustments and does not include charity care. Include note disclosures of method revenue recognition and management’s policies for providing charity care and notes charity care provided. Operating revenues cover patient service revenue, premium revenue based on agreement for a fixed fee, other revenue from parking fees, gift shop, cafeteria, and tuition. The unrestricted gifts; investment income for current unrestricted purposes be classified according to the policy there in.

Promoting excellent healthcare is very important in every society. With the decrease in public health and the increase cost of medical technology, many healthcare facilities are facing the challenges of patient billing and the inadequate resources to cover the hospital accounts. This is a key problem and issue one predominate hospital face in California. California Sutter Health managed to achieve this desired goal in the accounting system of patient’s hospital billing. California Sutter Health is a not-for-profit health system in Northern California, that includes doctors, hospitals and other health care services.

Banner health is based in Phoenix Arizona and is a non-profit organization that are dedicated to make a difference in the lives of the society through quality patient care. They are the largest health care system in the U.S, and have more than 39,000 employees, 25 hospitals and a growing network of health centres and clinics. The focus of the Banner healthcare is to create the best for the community. Banner healthcare is the leading non-profit healthcare organization that focus on providing health benefit and coverage services to the patient (Bannerhealth.com). They are the largest healthcare service provider in US that strives to create and committed in providing excellent patient care. They are the national leader in innovation to strengthen patient care. Banner health focus on continuous improvement of patient outcomes and service. They ensures that patients get excellence and affordable healthcare services through the current technology. The main goal of Banner healthcare system is to provide quality healthcare services and ensure that patients get quality services. The Banner health mission was to make a difference in the lives of people through excellence patient care. They exists to provide quality health care to the communities, rather than making profits. The services this organization provides includes Bariatric surgery, women health, Transplant services, Hospice Radiology for adults and children, Emergency care, Maternity, Physical therapy, and many more

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.

Though they are not entirely comprehensive tools, a great deal can be learned about a hospital or other healthcare organization for-profit or not-for-profit from an examination of their annual financial documents (Finkler & Ward, 2006). The balance sheet and statement of revenue and expense can both yield valuable clues even in the absence of other evidence about changes that might be occurring in the organization, a definition of the type and degree of certain problems that it might be facing, and potential opportunities for improvement in performance that might exist (Finkler & Ward, 2006). Comparing two or more years' worth of financial information yields even more valuable insights, tracking movement in the hospital or other organization's ability to finance its activities and thus continue providing services at the same level, quantity, and scope as current operation.

Healthcare managers participate in various important roles that allow them to form and maintain flourishing organizations. Managers ought to be aware of the decisive elements of management and the generally accepted accounting principles. At the same time, they must realize, stick to, and put into effect the general financial ethical standards. Successful management of finances of healthcare is one of countless tests that mug the organization. Revenues and expenses of the organization are essential because they establish the external and internal finances of the company. The