...Financial Data Analysis Jesse Patacsil HCS 577 June 29, 2012 Financial Data Analysis Financial data analysis is the procedure for assessing budgets and other finance-related things to determine the sustainability of a business venture. A financial analysis is used to analyze whether a unit is constant, solvent, liquid, or profitable enough to be invested in by shareholders. When looking at a specific company, the financial analyst will often focus on the income statement, balance sheet, and statement of revenue and expenses statements. In addition, one key area of financial analysis involves comparing the company's past year performance into an estimate of the company's future performance.(Stock Analysis, 2912) On the Balance sheet the patient accounts receivable had a larger allowance for bad debts on the audited version. There was $1,000,000 more in the allowance for bad debts (or doubtful accounts) in the audited version of the financial statements (Patton-Fuller Community Hospital, 2009). This means that the hospital most likely will not collect on this patient accounts receivable and has classified it as a bad debt so it is estimated to result in a loss. The management uses historical data to estimate bad debt but new agreements with managed care payers required an adjustment to the expense and allowance during the audit (Patton-Fuller Community Hospital, 2009). This also decreases the total assets by $1,000,000 in the audited version of the balance sheet...
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...Sensitivity Analysis Sherri Fergusson HCS/405 December 22, 2014 Terri Andrews Sensitivity Analysis Many organizations have data analysis to review the financial statements, annual report, and budget issue documents; The Patton-Fuller Community Hospital is no different. In this analysis we will look over and address all of the areas that affect staffing at Patton-Fuller. These areas will vary between the numbers of nurses to the number of patients as well as staff compensation from wages to raises. A comparison of two years’ worth of data while also using Trend Analysis will explain future budgeting aspects and the pros and cons to these decisions. Comparative data is an important tool for managers to use when analyzing data with consistency, verification, and unit measures to fully meet the requirements of understanding the reporting financial results (Baker, PhD, CPA & Baker, JD, 2011, "Chapter 14/Using Comparative Data"). Using Patton-Fuller’s 2008-2009 financial statements to provide a comparative analysis for their expenses that occurred within a 2 year period. Patton-Fuller’s balance sheet provides comparative analysis that total current assets of 130,026 in 2008, and other assets in 2009 of 128,867 decreased to a negative difference of (1159.00). Liabilities reported a gain in 2009 of 462,153 from 2008 213,450 a growth percentage of 46.19 gain. However, factoring the equity of 335,035 in 2008 to 125,564 in 2009 a percentage of 62.52 gain, the total liabilities...
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...Patton-Fuller Ratio Computation Patton-Fuller Ratio Computation July 8, 2013 HCS/405 Regina Robinson The Eight Basic Ratios 1. Current Ratio (Unaudited) 2009 Current Assets $128,867 ÷ Current Liabilities $23,807= 5.4129877 or 5.413 (5 to 1) 2008 Current Assets $130,026 ÷ Current Liabilities $8,380 = 15.516229 or 15.516 (15 to 1) Current Ratio (Audited) 2009 $128,867 ÷ $23,807= 5.3709833 or 5.371(5 to 1) 2008 $130,026 ÷ $8,380= 15.516229 or 15.516 (15 to 1) Disagree: This ratio is consistently a measure of short-term debt paying ability (Baker & Baker, 2011). However, it must be carefully interpreted (Baker & Baker, 2011). Observationally, the CEO’s report to the board that all financial ratios have improved is inaccurate; in all actuality, the ratios have not. In effect, the numbers simply do not back up the declaration. The unaudited and audited current ratios show that in 2008 the hospital’s assets were greater than those in 2009 were. This ratio also shows the current assets in 2008 were much higher than the current liabilities for the same year, a ratio of 15 to 1. In 2009 the current assets to current liabilities ratio was only 5 to 1. The hospital’s assets were lower in 2009 and yet the liabilities in 2009 were higher. The hospital’s assets were higher in 2008 and the liabilities in 2008 were lower. This shows the hospital was more profitable...
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...Financial Data Analysis Sharon M Flemming HCS 577 July 8, 2013 Dr. Patricia Jenkins Financial Data Analysis Financial management is an important aspect of health care financing. Whether for a hospital, medical group, or home care agency, long-term or short-term finance, maintaining accurate asset management records could mean the difference in failure or success for many organizations. The purpose of this assignment is to compare financial data for two consecutive years for Patton-Fuller Community Hospital from the 2008 and 2009 Balance sheets and Revenue and Expense sheets, and to identify significant changes between the years. I will also attempt to provide possible explanations for those changes based upon information provided within the Annual Report for that hospital. Patton-Fuller Community Hospital Financial Statements 2008-2009 Patton-Fuller Community Hospital (PFCH) is a large full service hospital providing cutting-edge medical care to Kelsey and the Northwest Valley since 1975. This is a physician owned organization with a fourteen member governing board in which each member with exception of the Chief Executive Officer (CEO) and the Chief Financial Officer (CFO) have equal voting rights. Each member serves a three-year term and elections are held each December, at which time four new members are voted in by the shareholders and profits are distributed among the owners (Apollo Group, Inc., 2013). According to the 2009 Annual Report the CFO indicates that...
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...Course Design Guide HCS/405 Version 5 1 Course Design Guide College of Natural Sciences HCS/405 Version 5 Health Care Financial Accounting Copyright © 2012, 2010, 2007, 2005, 2004, 2002, 1999 by University of Phoenix. All rights reserved. Course Description This course provides an understanding of the general principles of accounting applied in the health care environment. It includes an overview of sources of revenue for various health care entities. The fundamentals of financial planning, cost concepts, capital budgeting, and management analysis are applied in the health care environment. Issues surrounding the development and management of budgets are also examined. Policies Faculty and students will be held responsible for understanding and adhering to all policies contained within the following two documents: University policies: You must be logged into the student website to view this document. Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Baker, J. J., & Baker, R. W. (2011). Health care finance: Basic tools for nonfinancial managers (3rd ed.). Sudbury, MA: Jones & Bartlett Publishers. All electronic materials are available on the...
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...jjjjjjjjjjjjjjjjjjjjjjjjjwww.mass.gov/dhcfp. Trends in financial ratio analysis can provide useful ... Financial Ratio Analysis Project www.docstoc.com/.../Financial-Ratio-Analysis-Proj... - แคช - แปลหน้านี้ 11 Feb 2010 – Financial Ratio Analysis Project Final Report August 1, 1996. Prepared on behalf of: U.S. Department of Education 1. Executive Summary ... Financial Ratios for Patton-Fuller Community Hospital - College ... www.termpaperwarehouse.com/...Ratios...Hospital/... - แคช - แปลหน้านี้ 22 Jul 2012 – Patton-Fuller Community Hospital Ratio Computation 2009 and 2008 ... Financial Data Analysis For Patton Fuller Community Hospital · Patton ... California Hospital Financial Ratio Analysis Report - Google Books books.google.com/.../California_Hospital_Financial_Rat... - แปลหน้านี้ Title, California Hospital Financial Ratio Analysis Report. Contributor, California Association of Hospitals and Health Systems. Publisher, California Association ... A new perspective on hospital financial ratio analysis findarticles.com/p/articles/mi.../is.../ai_20446235/ - แปลหน้านี้ ผลการค้นหานี้ไม่มีคำอธิบายเนื่องจาก robots.txt ของไซต์นี้ - เรียนรู้เพิ่มเติม [PDF] FUNDAMENTALS OF HEALTHCARE FINANCE Online ... - ACHE.org www.ache.org/pubs/hap.../FHFOLAPPA.pdf - แปลหน้านี้ รูปแบบไฟล์: PDF/Adobe Acrobat - มุมมองด่วน 27 Mar 2009 – establishes the ratios and definitions used in any analysis. Perhaps the most complete set of comparative data for hospitals is the “Almanac of ... Health care operations...
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...Financial Data Analysis Paper December 2, 2013 Introduction Patton Fuller Community Hospital was started in the year of 1975. Patton Fuller Community Hospital has been dedicated to good quality care. It is a 600-bed capacity. It is known to be a for profit hospital. Its physicians and some that are still practicing at the facility own Patton Fuller Community Hospital. The financials of Balance Sheet and Statement of Revenue and Expense demonstrates how a firm has used its funds. These statements identify the financial stability of the organization. Which includes but is not limited to the cash flow statements along with the income statement, and the balance sheet. The financial reports show differences between 2008 and 2009. Based on the examination or audit performed for Patton Fuller Community Hospital, the auditors point out that there was a 10% raise in patient revenues as well as additional revenues. (Patton-Fuller Community Hospital 2009) This could be because of possible raise in patient visits and services, which may include admissions to the hospital. On the observation of the audited form that was submitted by the auditors, it is available under the expenses where Patton Fuller Community Hospital has experience increases. The supplies line item experienced a 5% increase, which totaled 3,238. The reason for such an increase may perhaps been easily related with the payments to vendors and the cost...
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...might think that a hospitals soul operations is to provide doctors and nurses to assist patients with their sickness and diseases. However, there is a ton of operations and systems that go on in the background. At Patton-Fuller Community Hospital, they split up their business information systems in four ways. Patton-Fuller Community Hospital use this system to improve communication and collaboration between senior management, employees, doctors, nurses and patients. In addition, the current system is suppose to improve the efficiency of hospital operations, relationships with current and future patients, and assist senior executives in managing hospital finances. PFCH System Breakdown The current breakdown of the business information system is split between the following: Accounting and Finance Information System, Human Resources Information System, Customer Relationship Management (CRM) Information System, Knowledge Management (KM) Information System. These four systems combine creates Patton-Fuller Community Hospital. The Accounting and Finance Information System; is primarily used by senior executives. The Patton-Fuller senior executives use this system to manage, cash flow, assets, liabilities, and net income. After all this information has been entered into this system PFCH has the ability to generate financial statements in which are requirements by federal regulations. For example, at the end of the month, someone from the PFCH team will enter in all data from that month...
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...Financial Data Analysis HCS/577 Financial Data Analysis Patton-Fuller Community Hospital (PFCH) is a for-profit health care provider for the Northwest Valley area. The hospital opened in 1975 and owned by the physicians practicing at the facility, PFCH is dedicated to providing cutting edge services with high quality patient care. Currently, the 600 bed facility received a majority of its revenue (80%) through in-patient services including surgical care, nurse services, both medical and surgical as well as their Intensive Care Unit (ICU). The remaining 20% of revenue is gained through Emergency Department visits and additional out-patient care. The remainder of this paper will determine the variances between the 2008 and 2009 fiscal year in attempts to determine where major gains and losses can be seen within Patton-Fuller’s financial environment. Variances between 2008 and 2009: The first area analyzed for variances between the 2008 and 2009 operating years, was the assets of Patton-Fuller Community Hospital. With both the stock market and real estate industries reeling during this most recent economic downturn, the return on these types of investments is much lower in 2009 than in 2008. Cash and Cash equivalents saw a depreciation of 45% going from $41,000,000 in 2008 to $22,000,000 in 2009. Based on long-term investment options, future projections estimate that this loss will ultimately be negligible as the stock market begins to rebound. Additionally, with...
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...Financial Data Analysis Patton Fuller Community Hospital is famous for specializing in medical care, surgery, physical therapy, pharmacy, radiology, delivery, and labor. Patton Fuller Hospital has been established in 1975. The main focus of the hospital is to offer quality medical services to all of their patients whether they are children or adults. Patton Fuller Hospital is one of the first hospitals in Kelsey. It is devoted to offer many diverse programs and services that would help them maintaining their patients' health. Patton Fuller hospital has a network that is complex and has built around the fundamentals of appropriate development of systems, in that the hospital as an organization is broken down into its primary operational components, a clinical half, and an administrative half. The administrative half of the hospital consists of such departments as human resources, accounting, reception, and executive offices; although the clinical side made of those areas perform patient care, such as operating rooms, the pharmacy, and so on. To begin, today what will be reviewed today will be analyzed financial data from the Patton-Fuller Hospital. Analysis of data is a process of inspecting, cleaning, transforming, and modeling data with the goal of discovering useful information, suggesting conclusions, and supporting decision making. Data analysis has multiple facets and approaches, encompassing diverse techniques under a variety of names, in different business...
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...Financial Data Analysis Patton-Fuller Community Hospital is a for-profit hospital that is owned by the physicians who currently works at the facility. Patton-Fuller was established in 1975 and has since provided innovative care to the surrounding communities of Kelsey. The key to this hospital's success is quality patient care and as shareholders their mission was to provide the best care to their patients (University of Phoenix, 2014). Patton-Fuller Community Hospital has been doing so well they were able to expand to an 600-bed, full-service facility. The hospital is directed by 14 board members, which consist of 12 physicians, the Chief Executive Officer and the Chief Financial Officer (University of Phoenix, 2014). The physicians are the only board members allowed to make any votes. Physicians would only serve 3-year terms, and four new members would come aboard every year in December during the annual shareholder meeting (University of Phoenix, 2014). Additional to the annual shareholder meeting, profits are dispersed to the physicians. Patton-Fuller Community Hospital made 80% of their revenue through inpatient services, which includes surgery, medical-surgical nursing, and intensive care unit. As 20% of their revenue made through outpatient services, the emergency department and other outpatient services (University of Phoenix, 2014). In the review of the financial statements, many events have occurred between the years of 2008-2009. Davis Geach, Chief Executive...
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...Financial Data Analysis HCS/577 July 14, 2014 Financial Data Analysis Patton - Fuller Community Hospital | Balance Sheet as of December 31 | 2009 and 2008 | (In thousands) | (Audited) | 2009 | 2008 | Assets | Current Assets | Cash and Cash Equivalents | $22,995 | $41,851 | Assets of Limited Use | $27,594 | $41,851 | Patient Accounts Receivable (1) | $58,787 | $37,666 | (net of Allowance for Bad Debts 2009: $11,757 / 2008: $7,533) | Other Receivables (3rd party payer settlements | - | $87 | Inventories | $18,396 | $8,370 | Prepaid Expenses | $95 | $201 | Total Current Assets | $127,867 | $130,026 | Other Assets | Funded Depreciation | $137,970 | $167,404 | Held under Bond Indenture | $73,584 | $75,332 | Property, Plant and Equipment, net | $248,346 | $175,774 | Total Assets | $587,767 | $548,535 | Liabilities and Equity | Current Liabilities | Current portion of long-term debt | $14,599 | $4,185 | Accounts payable, accrued expenses | $9,198 | $4,185 | Bond interest payable | $10 | $10 | Total Current Liabilities | $23,807 | $8,380 | Other Liabilities | Long term debt | $452,945 | $209,255 | less: current portion of long term debt | $14,599 | $4,185 | Net long term debt | $438,346 | $205,069 | Total Liabilities | $462,153 | $213,450 | Patton - Fuller Community Hospital | Statement of Revenue and Expense | 2009 and 2008 | (In...
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...posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Fitzgerald, J. & Dennis, A. (2009). Business data communications & networking (10th ed.). Hoboken, NJ: Wiley. Iniewski, K., McCrosky, C., & Minoli, D. (2008). Network infrastructure and architecture: Designing high-availability networks. Hoboken, NJ: Wiley-Interscience. Turban, E. & Volonino, L. (2009). Information technology for management: Improving performance in the digital economy (7th ed.). Hoboken, NJ: Wiley. Supplemental Resources Element K. (2010). Fundamentals of Data Communication: Level 1. Element K. (2010). Fundamentals of Data Communication: Level 2. Element K. (2010). Network Security Fundamentals. Article References Aird, C. L. & Sappenfield, D. (2009, June). IT the 'enabler' of global outsourcing. Financial Executive, 25(5), 62. Chtioui, T. (2009,...
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...Patton-Fuller Community Hospital Risk Assessment & Security Audit Patton-Fuller Community Hospital Risk Assessment & Security Audit Risk assessment and threat assessment should go hand-in-hand.The outcome of the risk assessment and threat assessment should provide recommendations that maximize the protection of confidentiality, integrity and availability while still providing functionality and usability. The purpose of a risk assessment is to ensure sensitive data and valuable assets are protected. An organization should take a hard look at who has access to sensitive data and if those accesses are required. The security audit should monitor the companies systems and users to detect illicit activity.The security audit should include searches for security events and the abuse of user privileges, along with a review of directory permissions, payroll controls, accounting system configurations, ensure backup software is configured, and backups are completed as required, review network shares for sensitive information with wide-open permissions. During the security audit, a report of offices should be conducted to ensure security policies and procedures are followed. Security Management Currently, PFCH has a Chief Compliance Officer in place to ensure the hospital meets all laws and regulations regarding patient privacy. The CCO is responsible for developing, implementing, and maintaining a system-wide Corporate Compliance program. The COO also oversees the Security...
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...Financial Data Analysis A financial data analysis “provides a great deal of important information regarding financial condition, it often fails to provide much insight into the operational causes of that condition” (Gapenski, 2008, p. 561). Financial data analysis identifies an organizations strengths and weaknesses by proving the relationship among items of a profit and loss account and a balance sheet. Numerous techniques or systems are used in analyzing financial statements. One such technique is comparative analysis. Comparative analysis “identifies new trends when data or ratios for a specific item from multiple time frames are presented alongside of each for a straight across comparison” (Investor Words, 2014, para. 1). This method can also be used to compare outcomes of alternate solutions or processes applied in similar situations. Other methods for analyzing financial data include “schedule of changes in working capital, common size percentages, funds analysis, trend analysis, and ratios analysis” (Accounting for Management, 2014, para. 3). The Patton-Fuller Community Hospital: Financial Analysis At first glance of the Patton-Fuller Health Care Organization one would assume this organization is viable. This would be due in part to a recent upgrade in operations. The balance sheet of December 31 2009-2008 reflects an increase of revenue. In addition to the increase of revenue, some expenses were also increased. It has yet to be determined if these increase were due...
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