This website uses cookies to ensure you have the best experience. Learn more

Healthcare Essay

965 words - 4 pages

Health Care Cost Study: Financial Statements

The Patton-Fuller Community Hospital has been serving the community since 1975; so handling financial statements are familiar with them. The discussion in this paper will enlighten what is the difference of audited and unaudited statements, the relationship between revenue sources and expenses on performance, and the effect of revenue sources on financial reporting. It will also discuss is the hospital’s revenues and expenses grouped for planning and control.
The audited and unaudited balance sheets from the Patton-Fuller statements differ by the net allowance of bad debts and retained earnings, or unrestricted fund balance. The ...view middle of the document...

The difference between audited and unaudited statements illustrates the importance of auditing and certifying financial information for accuracy.
At Patton-Fuller Community Hospital the company’s financial ratios are improving.” An analysis of the unaudited financial statements shows that all financial ratios have improved, and the hospital is poised to continue its profitable trend.”(Davis Geach, Chief Executive Officer, 2009)
The main way to tell that the company’s financial ratio is improving, is by looking at the total operating revenue and then subtract the total operating expenses. Once you have done that and the revenue is more than the expense the hospital is making a profit.
In order to determine this for Patton-Fuller Community Hospital, you would go to the Statement of Revenue and Expenses. Find the total amounts for revenue and amounts for expenses and then subtract them. So this hospital is making a profit of $689. At Patton-Fuller Community Hospitals financial ration is improving for the year 2009. In 2008 the financial ratio was not good. They lost $16,110 at that time.
The relationship between revenue and expenses are:
Revenue is the income that a company receives from its services it provides to its customers. Expenses are an outflow of money to another person or group for an item or services.
-Salaries and benefits $220,752
-Supplies 74,584
-Physician and professional fees 110,376
-Other 1,840
-Depreciation and Amortization 36,036
-Utilities 1,200
-Interest 3,708
-Provision for doubtful accounts 13,797
-Net patient revenue $459,900
-Other revenue $3,082
It turns out that in 2009 Patton-Fuller’s financial performance showed that both expenses and revenue are almost the same amount. The expenses for 2009 are $462,293. The revenue for 2009 is $462,982.
Company’s use revenue sources at the hospital as a financial record to track performance of the source providers. The financial reports give an...

Other assignments on Healthcare

Discussion - Clinton Healthcare Plan Essay

507 words - 3 pages , some may have noticed that the U.S. of A relished in a questionable feature of having the top healthcare costs while also being one of the foremost democracies in the world that has a significant portion of our inhabitants absent of having basic insurance. At that time, increasing health costs endangered businesses within the United States by placing them at a handicap within the world market. By that, executives within corporations became open to a

Current Healthcare Issues Essay

1944 words - 8 pages to keep healthy and educate so that they can grow up knowing about prevention and getting the care they need to keep themselves and everyone else healthy. The future of the healthcare industry under the Affordable Care act according to “An estimated 30 million Americans are expected to gain health insurance through the Affordable Care Act (ACA), and a healthy and sizable workforce will be needed to meet the increased demand. The

Smart Cards In Healthcare

1022 words - 5 pages the chip card. The consumer could take the card with them to their physician appointments and to other health care providers and their insurance benefits could be directly accessed by the provider, decreasing reimbursement wait times. Other uses of a smart card in health care would be to provide for security and confidentiality of healthcare records for patients (Smart card alliance, 2007). Even with legislation like Health Insurance

Technology In Healthcare

2570 words - 11 pages The Benefits of Technology in Nursing and Healthcare Abstract This paper explores nursing informatics and technology in the emergency department of a local level 1 trauma center. The references cited provide discussion and statistics on several types of nursing informatics utilized today by this facility, including benefits and shortcomings. Personal experience from the author are also incorporated as he witnessed first hand the nursing

Evolution Of Healthcare

1220 words - 5 pages help individuals find useful and reliable medical and health information online. There are eight key principles to the HON: “Authority meaning information and advice given only by medical professionals, complementarity which is information and help are to support and not replace patient-healthcare professional relationships, confidentiality, attribution, and justifiability, transparency of authorship and sponsorship, and honesty in advertising

Access To Quality Healthcare Paper

1746 words - 7 pages Running head: ACCESS TO QUALITY HEALTHCARE PAPER ASSIGNMENT Access to Quality Healthcare Paper Rudolphe Lubin University of Phoenix Lori Lewellen MBAJOGZL57 April 27, 2009 Quality Healthcare Introduction It will be evident to realize that financial, educational, and socio – demographic implications can bring serious impact on access to quality healthcare in the organization. Labor shortage

Healthcare Stats - Data Quality Plan

1642 words - 7 pages Healthcare organization use data collection and reporting for a variety of areas and reason. One main reason is statistics for several department/areas. This information is used to increase quality of care, to determine if there is an increase in a specific health diagnosis, as well as hospital census, which will help to determine the level of staff needed to provide that quality of care. The government also needs to maintain statistics on the

Healthcare Finance Chp 1 Questions

1940 words - 8 pages Chp 1 Questions: (pg 23-4) 1. a. What are some of the industries in the healthcare sector? Healthcare services (ex. hospitals), Health insurance (makes most of the payments to the health service providers), Medical equipment and supplies (maker of medical/diagnostic equipment), Pharmaceuticals and biotechnology (develop/market drugs/therapeutics), and "other" (which includes consulting, educational, government, and research agencies

Swot Analysis Of Healthcare Organizations

1440 words - 6 pages quality of some aspect of healthcare services (Spath, p.32, 2009). The Cycle would be Measurement, which is how we are doing in satisfying the patient, Assessment, would be are expectation being met in giving patients information that is vital to their care, and the Improvement, is what can we do to improve the patient experience ( Spath, 2009).  In order for patients to receive the best possible care, healthcare workers must be properly

A Qualitative Analysis Of Healthcare Experiences

1600 words - 7 pages Examining Individual Experiences in Healthcare Services A Qualitative Analysis October 3, 2013 Introduction All individuals need or will need healthcare throughout their lifetime. The issue of care and how people feel about the way they are treated by physicians and staff members, as well as, the cost involved in treatment are vital aspects of patient rehabilitation. If an individual is not satisfied with the healthcare services

State Healthcare Reform Concerns And Issues

864 words - 4 pages Mega Underlying Issues of State Health Care Reform in America Sabrina Ward AIU Online The shear purpose of this paper is to enlighten the reader and explain in detail the true meaning of the state healthcare reform act as well as its purpose. The serious matter of the state healthcare reform act has been an issue that has widely discussed in America, but yet often contemplated at the same time. At

Similar Documents

Healthcare Reform Essay

321 words - 2 pages “Healthcare reform” is not anything new to the President, Congress or the United States of America. It is that one thing that continues to surface over time and temporarily holds the spotlight of urgency and priority for Americans. Providing healthcare for the American people has been an issue and has perplexed our country near a close division over the past century. Theordore Roosevelt’s used health care reform as his campaign platform in

Healthcare Delivery Essay

1751 words - 8 pages CJ Macintosh March 21, 2011 Shriners Hospital Healthcare Delivery System Imagine a child experiences a traumatic event such as a house fire sustaining life-threatening injuries or develops a musculoskeletal disorder and may not walk again. Where would one go with a child such as this? A child that would need an individualized care plan catered to meet his or her needs without financially crippling their family and incorporating them in

Healthcare Analysis

355 words - 2 pages HSC3010 WEEK 2 HOME ASSIGNMENT 1. What are three factors which have led to more patient involvement in CQI? Patients are expected to be involved in healthcare as health systems have developed. Social and Health sector changes have also contributed to the call of patient involvement. Technological shifts have/are having a huge impact and let’s not forget the dominance of medicine has been questioned by patients and the HIV/AID epidemic has

Healthcare Spending Essay

1468 words - 6 pages good job with benefits that will be a great liability they will put at risk. Many people will not be able to trust them with their information or other things that they may think is very private (APA, 2013). Many healthcare facilities should introduce risk management programs to make sure nurses are giving high quality care. Nurses should communicate well with the patients and other staff members (APA, 2012). When tests are given nurses should