Universal Health Service Executive Summary

The united states have a unique health care system of delivery that pursues to target some specific areas. The health reform, Patient Protection and Affordable Care Act also called the Obama care (2010), which holds the promise of universal health coverage under government mandates. With a predominant role that is play from the government the Health Care Reform is said to be, one of the most important pieces of legislation today. Universal health care is the pourpose that all citizens should have access to affordable, high-quality medical care and acces to primary care. Health care reform will provide every American with the ability to obtain, health insurance regardless of race, ethnicity, or income. With universal health care, everyone’s

Medical costs are getting too expensive. Ever fought with your insurance providers because they refused to pay for care, or struggle to find an “in-network” provider? I know a woman whose name I will change for her privacy and the struggles she is going through are a perfect example of an issue many people face when dealing with insurance; Nancy’s (name changed for privacy) story is a perfect example of how our healthcare system is no longer working for the people. Nancy is this woman whose husband recently passed away. Nancy used to work for county and county workers cannot receive social security; and Nancy is too

Universal health care is a system that allows all legal residents to have healthcare insurance coverage. Being covered in universal health care doesn’t matter age, race, health, job status, marital status and or gender.We as a group feel like the United States should have universal health care. There are many benefits to universal health care such as improving public health, boost economy, human right, equal access to healthcare and stop medical bankruptcies. Some downfalls for universal healthcare is long wait time, lead to a socialism state, medical abuse, no competition, no innovation and increase government debt.

Health care costs in the United States has become an extremely controversial issue. The major issue is that most people can't afford health insurance, but if the country would adopt a universal health care system it could fix that issue. Some people disagree, and think that a universal system would be too expensive, but if everyone paid their fair share it would be less of a hassle for the nation itself.

The greatest financial challenges to a health care provider are its revenue cycle and receivable management. The revenue cycle is the process that includes all the administrative as well as the clinical functions that are essential and important for capturing, managing, and collecting the patient service revenue whereas the receivable management deals with the planning, organizing, directing, and controlling the receivables. Therefore when all these are taken into account with proper measures they can serve well in making the health care provider sustainable in financial decision. Well if we look at the health care organization we can concatenate many of these who are actually available for the discussion of their alternative to the

Universal Health Services, Inc. (“UHS”) is a 36 year old for-profit publically held healthcare management company. UHS’s acute division (26 acute care hospitals, 100’s of physician practices and over 400 employed physicians) achieved its success by always adhering to an effective operating philosophy: Build or acquire high quality hospitals in rapidly growing markets, then invest in the people and equipment needed to allow each facility to thrive and become a dominant healthcare provider in its community.[1]

Cash management is more important in the healthcare than any other industry (Cleverley, Cleverley, and Song, 2012). Organizations can get ahead of the competition when they are successfully able to manage their cash flow and invest in the short term. Many believe that cash is one of the most important assets in the healthcare sector (Rivenson, Wheeler, Smith, and Reiter, 2000).

Understanding the financial analysis of healthcare organizations is strategic to the organization by understanding their stand on the amount of revenue they gain, healthcare assets, and their financial goals. This paper will provide a comparison on the performance of financial analysis of several California Healthcare Organizations such as; Scripps Health, Palomar Health, Sharp Healthcare, and Tri-City Healthcare. The four healthcare organizations will be illustrated with an overview about what the organizations have been doing financially , where they have been growing financially, and what have they accomplished over the past year from examining their financial statement. As the nation’s healthcare model continues to evolve,

Our country would be stronger if it had universal health care, or at least more and cheaper health care than it does now. Many people do not want to pay the cost because it is so expensive to pay for everyone to have universal health care. Research shows that in the three branches of our government – Executive, Judicial and Legislative – sometimes they think the cost is worth it and sometimes they think the cost is too great.

In the first article, “Making the Case for Public Health Finance Policy,” Suarez talks about how Hospitals and governments use financial indicators to assess fiscal and operational activities. According to Suarez (2011), these indicators provide the necessary data in order to negotiate for more funding. She did a study and collected data from three separate databases on health care agencies and local governments who used these indicators. The conclusion was scare in the fact that either data is underreported or agencies are not using financial data in order to improve their practices as much as they should be. “Monitoring financial performance and predicting financial problems are important contributions of financial ratio analysis and have been demonstrated to help hospitals and local

The “Distress Detectors” article presents highly useful ways to use ratios for improvement the heath care organizations. There are seven helpful ways described in the article for health care financial executives can use for assessing their organization financial state. The types of measures mentioned are cleverley’s financial strength index, altman’s modified z score, and the others are cash-flow based. For instance, operating cash flow ratio, funds flow coverage ratio, cash flow to total debt ratio, and total free cash flow ratio are the ways to assess the finance in facilities, (Price, Cameron, & Price, 2005). It’s vital for all health care investors, management, and board members donors to be involved of the organizations financial status as well as data. Health care investors, executives, etc, must ensure true financial condition is met of financial information. Preventing small mistakes and small mistakes is a general requirement. Taking quick action is crucial and if financial distress is happening, any additional damage must be prevented. It’s understood hospital management fails to see financial distress and more damage escalates. For weak hospitals, they

There are many financial ratios used in evaluation of a healthcare organization’s performance but for purpose of this study, it will be limited to activity, leverage investment, liquidity and profitability.

The main goal of a privately healthcare practice is to generate profits from services rendered. Private health care practice’s sole purpose just like a business is to generate revenue while maintaining financial viability. Financial viability is determined after reviewing all pertinent financial documents. Financial viability and status is determined by reviewing the organization’s Balance Sheets, Statements of Operations, Statement of Changes in Net Assets, and Statements of Cash Flows. A private healthcare practice financial balance sheet record the organization’s present assets, liabilities, and net assets at the time of review. Revenue statements or statements of operations give a snapshot of the healthcare’s revenue and expenses during the reviewed financial period. Once the revenue statement documents are reviewed, changes in asset and use of equity can be determined by reviewing statements of changes in assets documents. Statements of changes in net assets, list the change in equity during a specific operational time or period of the healthcare organization (“Statements of Change in Net Assets,” cassfraser.ca, gabs.org, May 2007). Fund generation and fund use is shown in the statements of the healthcare organizations cash flow statements. Document review of an organization’s balance sheets, statements of operations, statement of changes in net assets, and statements of cash flows, will provide a view into a healthcare’s financial standing, financial organization, and

Financial statements have several key components and specific criteria into them to relay the detailed information for auditors and management. A deeper look into financial statements and the many concepts surrounding them are needed to explain in more detail. It’s also important to recognize the Auditor’s opinion letter, balance sheet, operating statement, statement of changes in net assets, and statement of cash flows and footnotes of their involvement in the process. Relevant accounting articles are a useful supplement to financial statements and how they enhance concepts in the financial statement. The meaningful uses of financial statements for health care organizations are the epitome of current and future success of financial health.

The management of cash is essential to the survival of any organization. Managing an organization’s financial operation requires knowledge of the economy and ways to maximize revenue. For any organization to operate on a daily basis adequate cash flow is required. Without cash management the organization will be unable to function because there is no cash readily available in case of inconsistencies in the market. Cash is also needed to keep the cycle of the company’s operations going.