there are constant changes. Especially in healthcare, there are always emerging illnesses that arise along with governmental changes. When identifying drivers that affect healthcare, there are many factors that come to mind. However, the drivers that I felt played a major role were costs along with the changes of the values of the business. A cost is the most effective driver that will most likely cause healthcare organizations to merge. As with any organization, finances will always be an important
Words: 450 - Pages: 2
Analysis of financial statements is a procedure that involves the review and examination of a firm’s financial statements to help the user make informed economic decisions. The financial statement analysis includes the balance sheet, statement of retained earnings, cash flow statement and the income statement (Fridson & Alvarez, 2011). Users of financial statements include management, investors, creditors, regulatory authorities and the government. Ratio analysis is a standard financial analysis
Words: 963 - Pages: 4
law”. The Affordable Healthcare Act affords new means to hold insurance companies responsible and offers strong selections for customers. For example as part of the recently upheld Affordable Care Act, all health insurers are required to spend a percentage of each premium dollar collected to pay claims and to provide clinical service and activities that improve health care quality. ("Healthcare.gov", 2012) The Medical Loss Ratio (MLR) is known as a percentage that healthcare insurers must meet or
Words: 902 - Pages: 4
Using Financial Ratios to Assess Organizational Performance Michell Penix Dr. Ellis HSA 525 Health Financial Management November 28, 2014 Abstract The focus of this paper is to create a three year financial plan for Universal Health Service, Inc. using the financial statement previously generated. The financial ratio of profitability ratio is the ratio that most financial analysts would use to evaluate the financial condition of the company. The profitability ratio is also known as the
Words: 1509 - Pages: 7
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
Words: 1359 - Pages: 6
Safe Staffing Examine Nurse-to-Patient Ratios Primary health care organizations such as New York Presbyterian (NYP) are impacted by low nurse-to-patient ratios. The recent implementation of the Patient Protection and Affordable Care Act (ACA) has required organizations such as NYP to explore many approaches to improve quality and patient outcomes that contain costs. “Numerous studies reveal an association between higher levels of experienced RN staffing and lower rates of adverse patient outcomes”
Words: 3851 - Pages: 16
The ongoing nursing crisis presents a significant threat to the U.S. healthcare system, impacting the quality of patient care and the effectiveness of its operations. Previous studies have highlighted the impact of workplace culture and pay disparities in influencing nurse retention and burnout. Studies show that up to 57 percent of recently employed nurses leave their positions within two years, and at least 17.5% leave within the first year. This paper outlines some key performance indicators (KPIs)
Words: 1036 - Pages: 5
every state. Chesapeake Health Plans is one of Virginia’s largest managed care organizations with more than 400,000 members in 15 counties (Gapenski, 2010). The facility covers different products such as HMO, PPO, and POS to accommodate the sick and elderly in the state of Virginia. With all the different financial issues going on with healthcare, Chesapeake has proven to be stable in past years with 85% of the financial business in HMO’s (Gapenski, 2010). As the case study states, premium revenue
Words: 366 - Pages: 2
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
Words: 2212 - Pages: 9
There are many change models available for organizations to use for implementation of evidence based practice (EBP). This author will use the Iowa Model to implement and explain the change process step by step. According to Melnyk and Fineout-Overholt (2015), the Iowa model starts with staff members questioning the current organization practices to find a process that can be done more effectively. Next step is to form a team, which can include key stakeholders and clinicians with strong understanding
Words: 679 - Pages: 3
