...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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...Health Care Business Analysis Tina Leggett HCS / 577 July 31, 2016 University of Phoenix Health Care Business Analysis When creating a new budget within the healthcare field it can be somewhat difficult. It is very important that effective management of the financial practices be utilized when making a spreadsheet or balance sheet. All data related to the budget should be used even if some of the numbers or minor items do not look like much but still have an effect towards the numbers. An operating budget should be presented with all the appropriate schedules and statements that are supporting the documentation that is presented from the hospital or entity (Finkler,2013) Creating the 2010 Budget Budgeting for a hospital or other entity is created to budget and prepare for the process of budget building and to monitor the budget for any errors throughout the year. Each company will decided on the best way to set up the budget to suit the needs of their company. Patton Fuller will have to look at each department to see what happens with each department to adjust the type of budget for each individual department. All departments are divided within the budget per each shift such as nursing and equipment being used. The budget is being based on making decisions that have been projected and allows identifying patient and assumptions used in budget balancing for 2010 (Gapenski,2012). Decision making for creating...
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...Financial Data Analysis for Patton Fuller Community Hospital Bobbie Griffin HCS/577 April 16, 2012 Crystal Chilman University of Phoenix Patton Fuller Community Hospital This paper will analyze the for-profit organization, Patton Fuller Community Hospital, financial data and determine what happened to with the $1 million that Abigail left to the hospital after she passed. Patton Fuller is very dedicated into providing excellent services to their patients. This community hospital is owned by a group of practicing physicians with the aim of providing quality care to around 600 plus patients in a complete service setting. Finkler and Ward mentioned that all health care organizationought to demonstrate signs of revenue in order to obtain newer technology and be able to be compete with other organizations (Finkler & Ward, 2006). The community hospital provided a financial report also known as financial audit. Gapenski stated that a monetary report show the monetary account of an organization from beginning to end, a cash flow statement, income statement and the balance sheet (Gapenski, 2008). This statement identifies the financial stability of the organization and includes but not limited to the cash flow statements, income statement, and the balance sheet. The organization’s financial reports show a considerable differentiation between 2008 and 2009. Based on the examination performed for Patton Fuller Community Hospital...
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...Health Care Budget Virginia Ivins HCS/577 October 13, 2014 Robert Adams Health Care Budget Planning and budgeting helps ensure that operations are being carried out in a manner consistent with the mission and vision of the organization. There are several budgeting models that are effective. According to Louis C. Gapenski, (2008), “More detailed managerial guidance is contained in the operating plan, often called the five-year plan. The financial plan, which is the financial portion of the operating plan, contains a long-term plan, working capital management plan, and managerial accounting plan” (Gapenski, 2008). Good financial management processes for tracking resource utilization are essential for a department to make effective use of its resources. Not planning and budgeting properly can also lead to even bigger problems in the finances of an organization. Most effective financial management practices Effective financial planning and control helps each department in the organization keep track of its resources and hold each department accountable. Monitoring of expenditure is essential on a regular basis. The most effective financial management practices include variance analysis, benchmarking, environmental scanning, model development, forecasting, types of budgets, types of monitoring methods and frequency of monitoring. According to VarianceAnalysis.org, (2014), “Variance analysis is defined as the difference between the expected amount and the actual amount of...
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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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...HCS/577 – Financial Management in Health Care Financial Data Analysis Introduction To have a full understanding we need to know what an operating budget is and it can be defined as the upcoming statement of profit and loss for the different divisions and units of a company as well as the company as whole for the upcoming year. To identify the variances as well as to monitor things this operating budget is normally divided into what is usually called quarters. For a health care company these budgets are prepared for the following year and is normally discussed for some kind of approval by the upper management teams. When the year is at an end the management team that is in charge of certain areas are then asked to provide an account of the performances from the previous year. Effective financial management practices in creating and monitoring an operating budget When it comes to creating and monitoring a budget, the use of financial management should not be overemphasized. To start off, the budget construction form should be able to identify all of the relevant data that is involved. The operating budget can be best utilized as a profit and loss statement projection and to prepare the estimates of expenses and future revenues. To make it easier to monitor Finkler (2006) states that an operating budget should be presented together with...
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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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...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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...Financial Data Analysis Tammy L. Wilson HCS/577 July 15, 2015 Tricia Jenkins After going over the balance sheet for Patton-Fuller Hospital for the year of 2008-2009, I observed there to be significant differences, these stand- out such as the such as the retained earnings ( or “Net Worth” or “Unrestricted Fund Balance”) drastically decreased from 2008-2009 (Apollo Group 2006). The dollar amount of the decrease is -209,407 this bringing the percentage to 65%. The long- term debt rises to 116% from 2008-2009 as well (Apollo Group 2006). This is very huge increase, along with the total current liabilities increased as a whole by 184.09% (Apollo Group 2006). In the documents of the statement of revenue and expenses there are major differences. The operating income decreased by 98% from 2008-2009 (Apollo Group 2006). Also the net income decreased between the years of 2008-2009, this was also by 98%. Non-operating income was dropped by 77%. From what I observed the total revenue and expenses were all with-in the normal range even though the operating income, non-operating, and net income all have declined and by a very noticeable rate (Apollo Group, 2006). It had a total revenue that had grown by 10%, which equals to $41,668.00. The increase...
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...Summary Alonzo miller HCS/577 July 6, 2015 Sharon Sanders Comparative Summary The United States health care system have many organizations that are called entity which have an effect on people daily living and survivor in life. I will discuss in this paper the entity that I chose from the list of each health care financial environment and described in the Financial Environments Worksheet. I will address and compare the environment that I selected in week one assignment. I will describe the organizations financial structure. I will explain which unique policy to the financial environment that I selected from week one assignment. I will discuss financial management practices that are prevalent in the financial environment. I will in this paper discuss what are the effective financial management that is more difficult in health care than in other industries. Describe the financial structure. The mission of the Department of Veterans Affairs is a government entity that serves veterans of the United States and their dependents, and beneficiaries with compassion and dignity and veterans principal advocate to ensure they receive social support, benefits, medical care, benefits, and lasting memorials. (va.gov, 2016). Department of veterans' affairs financial structure consists of consolidated financial structure consolidated balance sheets that are base dollars in the millions. The assets are kept on this sheet with treasury fund balance. The financial statement is kept...
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...Health Care Budget HCS/577 When it comes to the creation as well as monitoring of a budget, the use of effective financial management practices cannot be overemphasized. To begin with, the budget construction form must identify all relevant data. An operating budget is best presented as a profit and loss statement projection. With that in mind, estimates of expenses and revenues (future) must be prepared. To ease monitoring, Finkler et al. (2006) notes that an operating budget should be presented together with the appropriate schedules as well as statements which act as supportive documentation? This paper will discuss the most effective and least effective budget management practices. According to Gapenski (2008), an effective operating budget must be created on an annual basis. However, for purposes of effective monitoring of an operating budget, it is important to note that an entity can come up with a number of quarterly or monthly budgets for utilization as the year progresses. An operating budget must also include all the important information including inventory and operating expenses, costs associated with manufacturing as well as sales forecasts. The inclusion of all this information as well as the categorization of the various items according to Boyd et al. (2010, May) is vital as this is what avails the financial outlays necessary for sales generation as well as other activities. Based on the size of the company or entity, Campbell et al. (1998) note that it...
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...Comparative Summary HCS/577 July 28, 2014 Comparative Summary Introduction The financial environment of the different types of health care entities is defined by the classification of ownership. The three categories of ownership are for-profit, not-for-profit, and government owned. In the following paragraphs, I will identify one entity from each of the three categories of ownership and describe the financial structure in their financial environment. I will identify the policies unique to each financial environment as well as financial management practices prevalent in the financial environment. I will also explain why effective financial management is more difficult in health care than in other industries. Entities Piedmont Medical Center is a for-profit acute care hospital located in Rock Hill, South Carolina. It is an entity with the Tenet Healthcare Corporation that offers a broad range of surgical and diagnostic services that include advanced heart and stroke care, women and children services, and a 24-hour emergency room. It has received recognition for its cardiac care, cancer care, diabetes management, orthopedic care, stroke care, and surgical care. (Piedmont Medical Center, 2014). Greenville Memorial Hospital is a not-for-profit acute care hospital also located in Greenville, South Carolina. It is an academic teaching hospital with a 24-hour emergency room that provides inpatient and outpatient services for the immediate community as well as a referral center...
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...Health Care Business HCS/577 June 29, 2015 Benjamin Ovando Health Care Business Analysis In creating a new operating budget a decision had to consider the type of budget that would best fit the needs of the hospital. Since there is several financial management practices involved with creating an operating budget, we must understand which practice will help us create a budget that is substantial for the needs of Patton Fuller Community Hospital. The Patton Fuller Community Hospital Nursing Statistics provided information including cost of nurse per hour, cost of nurse per 24 hour day, number of nurses per patient, number of nurses per day, nursing cost per day, and nursing cost per month. This statistical budget is the basis of our budget creating process. We are able to identify patient volume and resource assumptions used in other budgets (Gapenski, 2008). The decision was to provide a $1 raise to our nursing staff. The effect of this raise is demonstrated in the simulated budget for January through December. We added the total costs from the $1 increase over the course of the year to the 2010 operating budget. With adding in the additional salary costs of $631 (in thousands) to the prior year salary and benefit costs, total expenses will increase 1.3% for a total of $468,756. As a result of the salary increase the operating and net income will be $8,485. Because of the increase in pay to the nurses Patton Fuller Community Hospital income will decrease...
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...000 – Computer science, information, and general works • 000 Generalities • 001 Knowledge • 002 The book • 003 Systems • 004 Data processing and Computer science • 005 Computer programming, programs, data • 006 Special computer methods • 007 Not assigned or no longer used • 008 Not assigned or no longer used • 009 Not assigned or no longer used • 010 Bibliography • 011 Bibliographies • 012 Bibliographies of individuals • 013 Bibliographies of works by specific classes of authors • 014 Bibliographies of anonymous and pseudonymous works • 015 Bibliographies of works from specific places • 016 Bibliographies of works from specific subjects • 017 General subject catalogs • 018 Catalogs arranged by author & date • 019 Dictionary catalogs • 020 Library & information sciences • 021 Library relationships • 022 Administration of the physical plant • 023 Personnel administration • 024 Not assigned or no longer used • 025 Library operations • 026 Libraries for specific subjects • 027 General libraries • 028 Reading, use of other information media • 029 Not assigned or no longer used • 030 General encyclopedic works • 031 General encyclopedic works -- American • 032 General encyclopedic works in English • 033 General encyclopedic works in other Germanic languages • 034 General encyclopedic works in French, Provencal...
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...LOF by demonstrating social commitment to host-country constituents through corporate social responsibility (CSR). If LOF is positively related to the distance between the home and host countries, and CSR activities confer social legitimacy benefits on foreign affiliates, we should expect CSR activities and distance to be positively related. However, we argue that, despite this potential motivation, foreign affiliates from more distant home countries are in fact less likely to engage in host-country CSR. Our argument focuses on the ways in which distance affects the MNE’s willingness and ability to engage in CSR abroad. We also predict that hostcountry CSR reputation negatively moderates this relationship. Using Community Reinvestment Act data for foreign bank affiliates from 32 countries in the United States over 1990–2007, we find strong support for our hypotheses. The paper enriches our understanding of CSR practices in MNEs, and of when and how MNEs try...
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