Financial Statement Analysis The goal of the Patient Protection and Affordable Care Act in 2010 was to expand the assess to care for all American citizens and to reduce the cost of health care in the United States. Therefore, many executives of Health Care Organizations (HCOs) confront with key issues of allocating scarce resources to deliver the care without compromising on qualities and increasing on expenditures (KPMG Healthcare & Pharmaceutical Institute, 2011). With unlicensed supportive personnel and nurses composing the largest percentage of the workforce at any HCOs, it is crucial that advance practice nurses (APNs) be involved in the achievement of financial goals (Goetz, Janney, & Ramsey, 2011). Therefore, the purpose of this …show more content…
In order to accomplish this, APNs must form a partnership with the financial team to ensure that their budget projections and goals are in alignment with the financial department and the strategic plans of the HCOs (Goetz, 2011).
The role of the APNs in the financial well-being of the HCOs is to take ownership in the planning, controlling, and making management decisions of the HCOs. Furthermore, APNs need to be directly involved in preparing, monitoring as well as carrying out the budget process and taking on the responsibilities of financial calculation to achieve the goals set by the HCOs efficiently (Finkler et al., 2013). After all, the financial well-being of the HCOs is essential because the HCOs must be sustainable financially to reach its goals related to providing care.
The Significance of Different Financial Statements Financial statements depict a picture of the financial well-being of a business and are used for financial performance analysis (Nelson, 1942; Stichler, 2008). First, the statement of financial position consists the assets that are owned by the HCO, the liabilities that the HCO has to the outsiders, and a portion of the HCO’s assets that belong to its owners (Finkler et al., 2013). It is a balance sheet indicating what the HCO has and what the HCO owes at a specific
With the passing of the Affordable Care Act in 2010 approximately 32 million more people will be insured throughout the United States. The need for healthcare workers and providers will be in drastic demand to provide care to these insured Americans. The 2010 IOM report details out how the advanced practice nurse can be a valuable asset in primary, chronic and transitional care and their skill set should be used to promote better healthcare across the nation (IOM, 2010). This impact of this report should help progress advanced practice nurse’s ability to practice without individual state regulation and be governed under one body to server in and outside of the hospital setting
This paper explores the flaws within the healthcare system in America that was passed as the Affordable Care Act and Patient Protection Act (PPACA); although, the intent behind the act was meant to do no harm, it seems as if the Affordable Care Act did more harm than good within the majority of the population. There are many sides to any issue, especially concerning the healthcare system within the United States, but based off of research, statistics, and articles one can obviously perceive it to be a good effort upon the American government. Questions arise upon efficiency from a physical/quality perspective of the American people, and also the monetary aspect. As stated, the issue of the Affordable Care Act is somewhat controversial and the politics of the subject are rarely black and white, but an objective view upon the issue is necessary to fully appreciate the act and constructively analyze the issue at hand, and the concerns that arose due to the act. Signed into the law on March 23rd, 2010 by President Barack Obama were the Patient Protection and Affordable Care Act (ACA). The ACA was expected to revolutionize American healthcare insurance security by expanding healthcare coverage, lowering insurance costs, improving the quality of medical care, etc., but it seemed to have done just the opposite. One can surely assume that the intent behind the healthcare innovation was completely genuine; however, one certainty can observe the issues following the ACA and Patient
In 2010, the United States took the first tangible step toward universal health care coverage, with the legalization of the Patient Protection and Affordable Care Act of 2010. According to the U.S. Census Bureau’s most recent report the total population of the United States is nearly 309 million people (U.S. Census Bureau, 2010). In 2009, it was estimated 49 % of the population was covered under an employer sponsored insurance plan (Kaiser Family Foundation, 2009). The same 2009 data reported an additional 29 % of the population was covered under some form of government or public program (Kaiser Family Foundation, 2009). Leaving 17 % of the U.S. population vulnerable without any form of health insurance coverage (Kaiser
Public policy is a system of laws, regulatory measures, a course of action by which a government maintains order or addresses the needs of its citizens through actions defined by its constitution. The Patient Protection Affordable Care Act is a great example of the power vested in the government to establish laws that will assist in health care reform to provide coverage for many. The PPACA was signed into law in March 2010 by President Barak Obama. This act represents a major adjusting of the health care system in the United States. The Act affirms that everybody should have some basic security when it comes to their health care. There have been many debates and questions of the constitutionally of the health care law. The issue of the “individual mandate” is one that was highly debated and objected by many. The individual mandate requires that all individuals to purchase some minimally insurance policy or pay a penalty. Many feel that such a policy represents a fundamental threat to liberty and an unprecedented leap of power by the federal government and clearly unconstitutional. On June 28, 2012, in a 5 to 4 ruling the Supreme Court upheld that President Obama’s health care overhaul, indicating that it’s a requirement that most Americans obtain insurance or pay a penalty was authorized by Congress’s
The Patient Protection and Affordable Care Act (ACA) was implemented in March of 2010 by President Barak Obama. The Patient Protection and Affordable Care Act, more commonly known as Obama care went into effect on January 1st of 2014. More than half of the United States of America was uninsured before the ACA was put into effect. The goal of the ACA is to provide those who fall in the “gap” with health insurance.
A current important issue in healthcare is the addition of the Patient Protection and Affordable Care Act (ACA). This program is for families and individuals with limited resources and low income. This program ensures that individuals who fall under these categories are able to have medical and financial benefits (Martin, 2015). The Affordable Care Act is a program that has expanded the eligibility for more citizens to receive benefits under Medicaid. Citizens that fall under the poverty line now qualify for coverage in all states that have a Medicaid program. In the United States, Medicaid and ACA is the largest source of funding of medical services for people with low income (Martin, 2015). This act was predominately passed to help
On March 23, 2010, President Barak Obama signed the Patient Protection and Affordable Care Act (commonly known as the Affordable Care Act (ACA) or “ObamaCare”) into law, and on June 28, 2012, the United States Supreme Court upheld the constitutionality of the ACA and its different mandates. The Affordable Care Act seeks to lower the cost of health insurance in America while also increasing its quality by using consumer safeguards, regulations, taxes, subsidies, and other reforms. Many observations and predictive outcomes have been made by both those who support and those who oppose the act by considering the economic impact that a greater access to care, cheaper costs for premiums, and certain federal regulations will have. When building an argumentative case for the Patient Protection and Affordable Care Act, the first difficulty lies in how to interpret the vast amounts of data. Since there are so many components to the law, it is possible to make a reasonable case with any viewpoint and simply spin certain information and evidences to fit that viewpoint. This paper will attempt to use actual results and quantified data to create an impartial summary of the economic effects of the Patient Protection and Affordable Care Act so far and also predicts its effects in the foreseeable future.
It has been almost six years since the Patient Protection and Affordable Care Act (PPACA) was enacted. Before the ObamaCare Act many people living in the United States didn’t have health insurance. The Patient Protection and Affordable Care Act include a long list of health-related provisions. Additionally, it supposed to extend coverage health insurance to many uninsured Americans (Obamacare, Web).
Since the enactment of The Patient Protection and Affordable Care Act (PPACA), health care has
The Patient Protection & Affordable Care Act, by definition, is “a social contract of health care solidarity through private ownership, markets, choice, and individual responsibility. While some might regard this contract as the unnatural
“The Patient Protection and Affordable Care Act (PPACA) also known as the Affordable Care Act or ACA is the landmark health reform legislation passed by the 111the Congress and signed into law by President Barack Obama in March 2010.” Within this reform there are pros and cons, which are instrumental for many Americans. Initially once PPACA developed there were many issues, but as it has been settle lings throughout recent year’s things happen to be confirming that this reform will face future issues. For this reason, as a future health care professional it is obvious that challenges will developed through this law, these challenges will need to be addressed accordingly and effectively. It is imperative to know and understand that this law is a major change in the American society, and with change there is resistance and acceptance, therefore, it is our job to work together to utilized it to the best of our ability. (Health Insurance Resources Center 2015)
The patient Protection and Affordable Care Act (PPACA) is the most debatable act which was signed into law on March 23rd, 2010 by President Obama ("Obamacare Bill: Full PPACA & Related Laws," n.d.). According to "Affordable Care Act and the IAFF" (2014), PPACA has three main objectives: expand access to healthcare coverage, shield patients against illogical actions by health insurance companies, and cut healthcare costs. The United States (U.S.) is the only advanced country that spend twice as much on patient care, yet still has greater rates of preventable deaths caused by curable illnesses. High healthcare spending, lack of access to healthcare services, and restrictions by health insurance companies to obtain crucial health services are the driving force behind the PPACA. PPACA was passed to benefit every citizen of America, but many view this law as problematic and challenging. Is PPACA constructive or destructive? This paper will discuss both advantages and disadvantages of PPACA.
The Patient Protection and Affordable Care Act (PPACA) is legislation President Barack Obama passed in 2010. The PPACA seeks to reform healthcare throughout the United States of America by expanding coverage, containing healthcare associated costs, and improving healthcare quality (Kaiser Family Foundation, 2013). The PPACA has many implications both at the federal and state level that are important to note, which are more fully appreciated within the context of client health or financial outcomes. With that in mind, the health status of Minnesota will be explored in-depth with an emphasis on health disparities before an overview and critique of the PPACA is provided. The
Under the ACA, there are several tax provisions that is scheduled to take effect as different sections of the health reform legislation are implemented. The US government has given the IRS the authorized to provide premium tax credits to individuals and insurance companies. The calculations are based on the family size specifically those that are making between 138% and 400% of the federal poverty levels, in states that have expanded the Medicaid eligibility and 100% to 138% are available in states that have not accepted the expansion. Another requirement is individuals not eligible for Medicare and Medicaid and Individuals whom have purchase qualifying health insurance plans on federal and state – run exchanges.
The Patient Protection and Affordable Care Act (PPACA) has brought about a reform in the healthcare industry. With the increased emphasis on more positive patient outcomes and cost-effective treatments, it is challenging healthcare practitioners to deviate from the norm of everyday medicine and holding them accountable for how they practice healthcare. The success of the PPACA reform is being measured through comparative research initiative and through the establishment of the Patient-Centered Outcomes Research Institute (PCORI). The PCORI data is used by the federal government in order determine if the PPACA is in fact effective in reducing healthcare costs while still ensuring positive treatment outcomes. The PCORI