UNDERSTANDING HEALTHCARE FINANCIAL MANAGEMENT.docx

•Download as DOCX, PDF•

0 likes•10 views

UNDERSTANDING HEALTHCARE FINANCIAL MANAGEMENT Chapter 13 -- Financial Condition Analysis PROBLEM 4 Consider the following financial statements for BestCare HMO, a not-for-profit managed care plan: BestCare HMO Statement of Operations and Change in Net Assets Year Ended June 30, 2XXX (in thousands) Revenue: Premiums earned $26,682 Coinsurance $1,689 Interest and other income $242 Total revenue $28,613 Expenses: Salaries and benefits $15,154 Medical supplies and drugs $7,507 Insurance $3,963 Provision for bad debts $19 Depreciation $367 Interest $385 Total expenses $27,395 Net income $1,218 Net assets, beginning of year $900 Net assets, end of year $2,118 BestCare HMO Balance Sheet Year Ended June 30, 2XXX (in thousands) Assets Cash and cash equivalents $2,737 Net premiums receivable $821 Supplies $387 Total current assets $3,945 Net property and equipment $5,924 Total assets $9,869 Liabilities and Net Assets Accounts payable - medical services $2,145 Accrued expenses $929 Notes payable $141 Current portion of long-term debt $241 Total current liabilities $3,456 Long-term debt $4,295 Total liabilities $7,751 Net assets (equity) $2,118 Total liabilities and net assets $9,869 a. Perform a Du Pont analysis on BestCare. Assume that the industry average ratios are as follows: Total margin 3.8% Total asset turnover 2.1 Equity multiplier 3.2 Return on equity (ROE) 25.5% b. Calculate and interpret the following ratios for BestCare: Industry average Return on assets (ROA) 8.0% Current ratio 1.3 Days cash on hand 41 days Average collection period 7 days Debt ratio 69% Debt-to-equity ratio 2.2 Times interest earned (TIE) ratio 2.8 Fixed asset turnover ratio 5.2 ...

Education

Consider the following financial statements for BestCare HMO,
a not-for-profit managed care plan:
BestCare HMO
Statement of Operations and Change in Net Assets
Year Ended June 30, 2XXX

(in thousands)
Revenue:
Premiums earned
$26,682
Coinsurance
$1,689
Interest and other income
$242

Total revenue
$28,613
Expenses:
Salaries and benefits
$15,154
Medical supplies and drugs
$7,507
Insurance
$3,963

Provision for bad debts
$19
Depreciation
$367
Interest
$385
Total expenses
$27,395

Net income
$1,218
Net assets, beginning of year
$900
Net assets, end of year
$2,118
BestCare HMO

Balance Sheet
Year Ended June 30, 2XXX
(in thousands)
Assets
Cash and cash equivalents
$2,737

Net premiums receivable
$821
Supplies
$387
Total current assets
$3,945
Net property and equipment
$5,924
Total assets

$9,869
Liabilities and Net Assets
Accounts payable - medical services
$2,145
Accrued expenses
$929

Notes payable
$141
Current portion of long-term debt
$241
Total current liabilities
$3,456
Long-term debt
$4,295
Total liabilities
$7,751

Net assets (equity)
$2,118
Total liabilities and net assets
$9,869
a. Perform a Du Pont analysis on BestCare. Assume that the
industry average ratios are as follows:
Total margin
3.8%

Total asset turnover
2.1
Equity multiplier
3.2
Return on equity (ROE)
25.5%
b. Calculate and interpret the following ratios for BestCare:
Industry average

Return on assets (ROA)
8.0%
Current ratio
1.3
Days cash on hand
41 days
Average collection period
7 days
Debt ratio
69%

Debt-to-equity ratio
2.2
Times interest earned (TIE) ratio
2.8
Fixed asset turnover ratio
5.2

17.4 – Consider the following financial statements for BestCare HMO, a not-for-profit managed care plan: BestCare HMO Statement of Operations and Change in Net Assets Year Ended June 30, 2011 (in thousands) Revenue: Premiums earned $26,682 Coinsurance $1,689 Interest and other income $242 Total revenue $28,613 Expenses: Salaries and benefits $15,154 Medical supplies and drugs $7,507 Insurance $3,963 Provision for bad debts $19 Depreciation $367 Interest $385 Total expenses $27,395 Net income $1,218 Net assets, beginning of year $900 Net assets, end of year $2,118 BestCare HMO Balance Sheet Year Ended June 30, 2011 (in thousands) Assets Cash and cash equivalents $2,737 Net premiums receivable $821 Supplies $387 Total current assets $3,945 Net property and equipment $5,924 Total assets $9,869 Liabilities and Net Assets Accounts payable - medical services $2,145 Accrued expenses $929 Notes payable $141 Current portion of long-term debt $241 Total current liabilities $3,456 Long-term debt $4,295 Total liabilities $7,751 Net assets (equity) $2,118 Total liabilities and net assets $9,869 a. Perform a Du Pont analysis on BestCare. Assume that the industry average ratios are as follows: Total margin 3.8% Total asset turnover 2.1 Equity multiplier 3.2 Return on equity (ROE) 25.5% b. Calculate and interpret the following ratios for BestCare: Industry average Return on assets (ROA) 8.0% Current ratio 1.3 Days cash on hand 41 days Average collection period 7 days Debt ratio 69% Debt-to-equity ratio 2.2 Times interest earned (TIE) ratio 2.8 Fixed asset turnover ratio 5.2 .

Chapter 17A. Modern Medical Devices has a current ratio of 0.docx

walterl4

Chapter 17 A. Modern Medical Devices has a current ratio of 0.5. Which of the following actions would improve (i.e. increase) this ratio? · Use cash to pay off current liabilities · Collect some of the current accounts receivable · Use cash to pay off some long term debt · Purchase additional inventory on credit. (i.e. accounts payable) · Sell some of the existing inventory at cost b. Assume that the company has a current ratio of 1.2. Now which of the above actions would improve this ratio? Consider the following financial statements for Best Care HMO, a not-for profit managed care plan Best Care HMO Statement of Operations and Changes in Net Assets Year Ended June 30, 2011 (In thousands) Revenue: Premiums earned $26,682 Co-insurance 1,689 Interest and other income 242 Total revenue $28,613 Expense: Salaries and benefits $15,154 Medical supplies and drugs 7,507 Insurance 3,963 Provision for bad debt 19 Depreciation 367 Interest 385 Total Expenses $27,395 Net income $1,218 Net asset, beginning of year $900 Net assets, end of year $2,118 Best Care HMO Balance Sheet June 30, 2011 (In thousands) Assets Cash and cash equivalents $2,737 Net premiums receivable 821 Supplies 387 Total current assets $3,945 Net property and equipment’s $5,924 Total assets $9,869 Liabilities and Net Assets Accounts payable- medical services $2,145 Accrued expenses 929 Notes payable 141 Current portion of long-term debt 241 Total current liabilities $3,456 Long term debt $4,295 Total liabilities $7,751 Net assets (equity) $2,118 Total liabilities and net assets $9,869 a. Perform a Du Point analysis on Best Care. Assume that the industry average ratios are as follows: Total margin 3.8% Total assets turnover 2.1 Equity multiplier 3.2 Return on equity (ROE) 25.5% b. Calculate and interpret the following ratios for Best Care: Industry Average Return on assets (ROE) 8.0% Current ratio 1.3 Days cash on hand 41 days Average collection period 7days Debt ratio 69% Debt to equity ratio 2.2 Time interest earned (TIE) ratio 2.8 Fixed asset turnover ratio 5.2 Consider the following financial statements for Green Valley Nursing home, Inc, a for profit, long-term care facility. Green Valley Nursing Home, Inc. Statement of Income and Retained Earnings Year Ended December 31,2011 Revenue: Net patient service revenue $3,163,258 Other revenue 106,146 Total revenues $3,269,404 Expenses: Salaries and benefits $1,515,438 Medical supplies and drugs 966,781 Insurance and other 296,357 Provision for bad debts 110,000 Depreciation 85,000 Interest 206,780 Total expenses $3,180,356 Operation income $89,048 Provision for income taxes 31,167 Net income $57,881 Retained earnings, beginning of year $199,961 Retained earnings, end of year $257,842 Green Valley Nursing Home, Inc. Balance Shee.

C O N S O L I D A T E D F I N A N C I A L S T A T E M .docx

humphrieskalyn

C O N S O L I D A T E D F I N A N C I A L S T A T E M E N T S Northwestern Memorial HealthCare and Subsidiaries Years Ended August 31, 2012 and 2011 With Reports of Independent Auditors Ernst & Young LLP 1207-1377461 Northwestern Memorial HealthCare and Subsidiaries Consolidated Financial Statements Years Ended August 31, 2012 and 2011 Contents Report of Independent Auditors.......................................................................................................1 Consolidated Financial Statements Consolidated Balance Sheets ...........................................................................................................2 Consolidated Statements of Operations and Changes in Net Assets ...............................................4 Consolidated Statements of Cash Flows ..........................................................................................6 Notes to Consolidated Financial Statements....................................................................................7 1207-1377461 1 Report of Independent Auditors The Board of Directors Northwestern Memorial HealthCare We have audited the accompanying consolidated balance sheets of Northwestern Memorial HealthCare (an Illinois not-for-profit corporation) and Subsidiaries (Northwestern Memorial) as of August 31, 2012 and 2011, and the related consolidated statements of operations and changes in net assets and cash flows for the years then ended. These financial statements are the responsibility of Northwestern Memorial’s management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. We were not engaged to perform an audit of Northwestern Memorial’s internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated financial position of Northwestern Memorial HealthCare and Subsidiaries as of August 31, 2012 ...

Statistical Analysis FY 2013 FY 2014 FY 2015 .docx

whitneyleman54422

Statistical Analysis: FY 2013 FY 2014 FY 2015 FY 20016 Budget STATISTICAL SUMMARY LRMC CCH CCH CCH Admissions 16,583 17,122 17,397 17,745 Adjusted Admissions 22,934 23,101 23,375 23,843 Patient Days 71,109 76,731 78,799 80,375 Adjusted Patient Days 98,330 103,487 105,871 107,988 Average Daily Census 195 210 216 220 Percentage of Occupancy 63% 68% 70% 71% Average Length of Stay 4.3 4.5 4.5 4.5 Emergency Visits 33,586 33,095 36,266 37,354 Urgent Care Visits 11,717 15,734 16,202 16,688 Observation Cases 4,380 5,216 5,496 5,661 Outpatient Registrations 30,819 30,063 32,313 33,928 Home Health Visits 51,736 43,496 38,532 38,532 Births 1,297 1,328 1,265 1,265 Other Statistics Employees 2,112 2,350 2,400 Full Time Equivalent Employees 1,690 1,880 1,920 Financial Data: Balance Sheet FY 2014 and 2015 Assets 2015 2014 Current assets: Cash and cash equivalents Cash and investments held by bond trustee – required for current liabilities Accounts receivable, less allowances for uncollectible $ 53,635,94 4 11,552,85 9 34,328,81 4 12,479,98 5 patient accounts of approximately $40,466,000 and $38,196,000 in 2010 and 2009, respectively 44,068,697 38,838,787 Estimated third-party settlements, net 1,295,000 1,758,080 Supplies 9,899,409 8,860,081 Prepaid expenses and other current assets 9,066,378 11,867,585 Total current assets 129,518,287 108,133,332 Assets limited as to use: Current liabilities: Accounts payable $ 19,860,709 15,744,839 Accrued expenses: Employee compensation and benefits 20,467,163 14,712,215 Interest 2,186,356 2,069,202 Other 11,501,375 12,929,155 Current portion of long-term debt 5,000,000 4,715,000 Total current liabilities 59,015,603 50,170,411 Interest rate swaps 7,663,158 5,121,610 Other 12,907,742 8,342,913 Long-term debt, less current portion 154,594,700 162,282,08 4 Total liabilities 234,181,203 225,917,01 8 Net assets: Unrestricted 181,147,094 175,919,30 4 Temporarily restricted — 129,367 Permanently restricted — 1,101,862 Cash and investments held by bond trustee, less current portion 6,577,710 5,986,813 Other 4,575,567 2,660,774 Total assets limited as to use 11,153,277 8,647,587 Property and equipment, net 176,575,169 184,822,376 Other assets: Investments 88,036,572 96,245,865 Deferred loan costs, net 1,762,631 — 2,414,097 1,524,290 Due from affiliates 7,388,113 1,280,004 Other assets 894,248 — Total other assets 98,081,564 101,464,256 Total assets $ 415,328,297 403,067,551 Total net assets 181,147,094 17.

Part IDescribe the following 4 types of costsFixedVariableS.docx

dunnramage

Part I Describe the following 4 types of costs: Fixed Variable Semivariable Semifixed Part II Dynamic Medical Suppliers, Inc. has sales of $300,000 for the calendar year of 2010. Its total variable costs equal $107,700. Calculate the contribution margin ratio, and determine whether it presents profit or loss to the organization. Total % of Revenue Sales (Revenue) $300,000.00 100% Less variable costs 36% Costs of medical supplies sold $65,825.00 Commission $26,875.00 Delivery fees $15,000.00 Total variable costs $107,700.00 Contribution margin X X Less fixed costs $115,000.00 Operating income $77,300.00 Part III Determine the number of full-time employees needed to cover multiple shifts based on information provided within the following scenario: Health care is a critical field, and some agencies require that staff members be present at all times to ensure that there is adequate staff to care for the patients. For example, a medical center that has both inpatient and outpatient units will require staff be present after normal business hours to provide care to those admitted to the inpatient unit. It is also important to ensure that there is sufficient staff to provide care to the number of patients being treated. This is imperative to managers when it comes to determining costs associated with salary and benefits. If an organization is overscheduling staff, it could have a severe impact on the revenue because the staff-to-patient ratio would not be appropriate. You create the schedule for the nursing staff in the pediatric intensive-care unit. Your daily staffing uses 6 registered nurses (RNs) working 8 hours and 2 licensed practical nurses (LPNs) working 3 hours. Determine the number of work hours required for 1 day. Part IV Understanding financial ratios can help the health care organization analyze its credit. Financial ratios should be compared to other financial information within the organization. Values used in calculating financial ratios are taken from the balance sheet, income statement, and statement of cash flows. The following are types of ratios: Liquidity ratios tell whether the health care agency is able to meet its financial obligations. Are there assets or cash available to pay the bills? Solvency ratios tell whether the organization has the means to meet its long-term obligations. How solvent is the agency? Profitability ratios tell whether the operating revenue outweighs the operating expense. How well does the medical center use its assets and control its expenses? Compute ratios using the provided data/information below. Use the financial reports below to compute the requested financial ratios. Provide a brief statement (1–2 sentences) explaining the outcome of the ratio. Dominion Plus Surgery Center Balance Sheet December 31, 200XX Assets Current assets Cash and cash equivalents $225,000.00 Accounts receivable (net) $450,000.00 Inventories $50,000.00 Prepaid insurance $18,.

Financial Analysis Using the financial statements from the Maj.docx

voversbyobersby

Financial Analysis Using the financial statements from the Major Medical Center Case Study below, analyze the following: x Review the auditor’s opinion letter and analyze any concerns. x Review the financial statements. Analyze any unusual items and examine the balance sheet, operating statement, and cash flow statement. x Review the notes and analyze any causes for concern. x Calculate the following ratios using Excel: common size, current, quick, days of cash on hand, receivables turnover, average collection period, fixed asset turnover, total asset turnover, debt, debt to equity, timesͲinterestͲearned, operating margin, total margin, Return On Assets (ROA), and Return On Net Assets (RONA). x Evaluate Major Medical Center’s financial status. Submit fourͲpage Word document (not including the title and reference pages) and an Excel worksheet. Paper need to be formatted to APA style, and must cite at least four scholarly sources. 552 Part VI • Financial Analysis Case Study Problem 15-12. For the Major Medical Center financial statements on the following pages, complete the following: a. Read the auditor's opinion letter. Are any flags raised? b. Review the financial statements. Search for un usual items. What things catch your eye on the balance sheet, operating statement, and cash flow statement? c. Review the notes. Do any of them raise cause for concern? d. Calculate the following ratios: common size, cur rent, quick, days of cash on hand, receivables turnover, average collection period, fixed asset turnover, total asset turnover. debt, debt to equity. times-interest-earned, operating ma rgin, total mar gin, ROA, and RONA. e. What do you think of Major Medical Center's financial sta t us? CASE STUDY Major Medical Center8 I.N. SINGER AND OW, GPAs 2650 East 38th Street New York, New York 10089 Report of Independent Auditors Board of Trustees Major Medical Center We have audited the accompanying statements of financial position of Major Medical Center (the "Medical Center") as of December 31, 2014 and 2013, and the related statements of operations, changes in net assets, and cash flows for the years then ended. These financial statements are the responsibility of the Medical Center's management. Our responsi bility is to express an opinion on tl1ese financial state ments based on our audits. We conducted our a udits in accordance with generally accepted aud iting stan dards. Those standards require that we plan and perform the audit to obtain rea sonable assurance about whether t11e financial statements are f ree of material mis statement. An audit includes examining, on a test basis, evidence suppotting the amounts and disclosures i n the financial statements. An audit also includes assess ing the accounting principles used and significant estimates made by management, as well as evaluating the overall fina ncial statement ...

Benecaid Health Benefits Solutions

Redline Communications Inc.

Benecaid is a Canadian company that has been providing health benefits plans for over 10 years. They administer health spending accounts and health/dental plans for over 50,000 Canadians and 5,000 companies. Their offerings include Health Spending Accounts that allow pre-tax dollars to be used for healthcare costs, as well as insurance plans. Their flexible plans are more cost effective than traditional insurance plans.

2015 renewal presentation march 28

Metropolitan Community College-Kansas City

The document summarizes Lockton Companies' presentation to Metropolitan Community College's Insurance Committee regarding MCC's health insurance renewal for 2015. It includes: (1) a summary of 2013-2014 plan performance and large claims; (2) details of MCC's current 2014 plan design and cost sharing; (3) BlueKC's proposed 2015 renewal rates, which include a 15% increase to fixed fees and a negotiated 10% increase to maximum claim liability factors; and (4) an analysis of the impact of proposed increases to prescription drug out-of-pocket maximums. The presentation provides information to help MCC evaluate its health insurance options and costs for 2015.

Finance and Accounting Management and Planning Chapter Objectives After reading this chapter, you should be able to 1. Describe the essence of financial governance and working capital policy. 2. Apply the functions of long-term finance to management in the healthcare industry. 3. Explain the essence of accounting as it applies to healthcare management. 6 © Imagebroker.net/SuperStock Finance and Accounting Management and Planning Chapter 6 The relationships among the practices of medicine, healthcare management, and financial management can easily be described as being complex. A physician in an individual practice, one in a group of specialists, and managers within a larger healthcare facility setting all encounter myriad challenges associated with setting prices for services; receiving payments from insurance companies, patients, and the government; paying for medical equipment and supplies; and covering the costs of operation, including wages for support staff, the price of a physical office space through a lease or a purchase, and other expenses. Meanwhile, healthcare managers must also contend with requests for purchases of new equipment, increased space, and a variety of additional items that may or may not be suited to a healthcare organization’s goals. Healthcare managers also oversee payroll, billing statements, accounts payable and receivable, third-party reimbursements, discounting systems, tax statements and bills, and numerous financial and accounting activities. All of these tasks relate to the process of cash flow management, or working capital policy. Working capital policy poses challenges for managers in every type of industry. However, healthcare providers face additional obstacles that most private-sector companies do not. For example, any physician or pharmacy accepting Medicare and Medicaid patients often encounters diffi- culties in receiving reimbursements in a timely fashion. The dilemma follows a common cycle: A patient receives care or fills a prescription; reimbursement documents are filed with the appropriate government agency; then the wait begins, many times for months. Meanwhile, supply bills, salaries, utilities, and other expenses come due and must be paid. Thus, any pharmacy or medical practice that accepts Medicare or Medicaid but that does not have a substan- tial cash reserve has a problem. Consider the dilemma of Dr. Madalene Green, a solo practitioner at Potomac Arthritis and Rheumatism in Bethesda, Maryland. Medicare covers 50% of her patients. In a recent government entangle- ment over budget issues, Medicare stopped making payments. The net result was that Dr. Green had to forgo her own salary in order to remain solvent (Washington Business Journal, 2010). In 2008, physicians in California and other Western states complained that they were owed millions of dollars in backlogged Medicare reimbursements. This continuing problem has led some physic ...

CHILD FOUNDATION FINANCIAL STATEMENTS Ye

JinElias52

CHILD FOUNDATION FINANCIAL STATEMENTS Year Ended May 31, 2020 with Independent Auditors’ Report CHILD FOUNDATION Table of Contents Page Independent Auditors’ Report 1 Financial Statements Statement of Financial Position 3 Statement of Activities 4 Statement of Functional Expenses 5 Statement of Cash Flows 6 Notes to Financial Statements 7 - 1 - Independent Auditors’ Report The Board of Directors Child Foundation Report on the Financial Statements We have audited the accompanying financial statements of Child Foundation (the Organization), which comprise the statement of financial position as of May 31, 2020, and the related statements of activities, functional expenses, and cash flows for the year then ended, and the related notes to the financial statements. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors’ Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. - 2 - Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Child Foundation as of May 31, 202 ...

OVERLAKE HOSPITAL MEDICAL CENTER Consolidated Financ.docx

alfred4lewis58146

OVERLAKE HOSPITAL MEDICAL CENTER Consolidated Financial Statements June 30, 2012 and 2011 (With Independent Auditors’ Report Thereon) KPMG LLP Suite 2900 1918 Eighth Avenue Seattle, WA 98101 KPMG LLP is a Delaware limited liability partnership, the U.S. member firm of KPMG International Cooperative (“KPMG International”), a Swiss entity. Independent Auditors’ Report The Board of Trustees Overlake Hospital Medical Center: We have audited the accompanying consolidated balance sheets of Overlake Hospital Medical Center (the Hospital) (a Washington not-for-profit corporation) as of June 30, 2012 and 2011, and the related consolidated statements of operations and changes in net assets and cash flows for the years then ended. These consolidated financial statements are the responsibility of the Hospital’s management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Hospital’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Overlake Hospital Medical Center as of June 30, 2012 and 2011, and the results of operations and cash flows for the years then ended in conformity with U.S. generally accepted accounting principles. October 15, 2012 2 (Continued) OVERLAKE HOSPITAL MEDICAL CENTER Consolidated Balance Sheets June 30, 2012 and 2011 (In thousands) Assets 2012 2011 Current assets: Cash and cash equivalents $ 21,239 15,796 Hospital accounts receivable, net of allowance for bad debts of $9,343 in 2012 and $11,396 in 2011 49,996 49,668 Clinic accounts receivable, net of allowance for bad debts of $440 in 2012 and $354 in 2011 3,494 1,449 Current portion of pledges receivable 853 598 Current portion of assets whose use is limited 8,708 10,177 Supplies inventory, at cost 5,968 5,584 Prepaid expenses 5,116 4,203 Other current assets 7,504 10,243 Total current assets 102,878 .

HealthWaysBudgetTable 1. HealthWays Clinic, Monthly Expense Budge.docx

pooleavelina

HealthWaysBudgetTable 1. HealthWays Clinic, Monthly Expense Budget Report, June 2018.ItemJune 2018May 20182018 YTDBudgetActualVarianceActualBudgetActualPhysician FTE1.01.01.01.01.0Nurse PractitionerFTE3.03.03.03.03.0Encounters:Established patients27529128616501671New patients251827150164Total encountersExpenses:Physician Salaries & Benefits$10,500$10,502$10,509$63,000$63,149NP Salaries & Benefits$20,000$20,992$20,191$120,000$122,001Clerical (2 FTE) Salaries & Benefits$6,667$6,771$6,683$40,000$41,978Total personnel expenseMedical supplies$7,500$8,136$7,994$45,000$47,883Office supplies$583$623$508$3,498$3,407Rent$2,917$2,917$2,917$17,502$17,502Depreciation$333$346$346$1,998$2,050Capital Expenses$3,333$3,480$3,480$19,998$20,439Overhead$167$167$167$1,002$1,002Total non-personnel expenseTotal health center expenseInterpretation:Providers:The FTEs have not changed, at least for the first 6 months of 2018.Encounters:The number of encounters, both new and established, is increasing over the year.Personnel expense:Although the FTEs are not changing, the personnel budget is somewhat more than budgeted, particularly the NP and clerical budgets. The management should investigate why this is the case, and better control the personnel budget.Non-personnel expense:Medical supplies are over budget. Office supplies are under budget. Depreciation and capital expenses (new equipment) increased over the budget year. Rent and overhead remain stable, but might be expected to increase next year.Total expenses:The clinic must carefully control expenses as its profitability is very low. Possible strategies might include improving staff productivity, reducing the cost of medical supplies, and postponing further capital purchases. HealthWaysFinancialsNurse-Run Clinic ScenarioPatient EncountersFY 2018FY 2017Established patients3,3483,204New patients331287Total Encounters3,6793,491 Cash$5,675$12,098Financial Ratios:Expense per Encounter = Total Operating Expenses / Total EncountersTotal Operating Revenue per Encounter = Total Operating Revenue / Total EncountersOperating Margin = Net Income/Total Operating RevenueDays Cash On Hand = (Cash + Cash Equivalents) / (Operating Expenses / Days in Time Period)Table 2. HealthWays Clinic, Income Statement, FY 2018.Table 3. HealthWays Clinic, Balance Sheet, December 31, 2018.FY 2018FY 2017Current AssetsDecember 31, 2018December 31, 2017Current LiabilitiesDecember 31, 2018December 31, 2017Gross Revenue (charges)$558,520$497,221 Cash5,0329,877 Notes Payable27,44950,000Less write-offs & adjustments117,254104,332Short-term Investments40,38934,181 Accounts Payable 78,70269,412Net Patient Revenue (collected)$441,266$392,889 Accounts Receivable63,39259,359 Accrued Expenses:+Other Revenue209,671234,953 Supply Inventories, at Cost16,02914,918 Salaries & Benefits38,26528,274 Prepaid Expenses & Other2,1041,876 Taxes1,4191,398Total Operating Revenue$ 650,937$ 627,842Total Current Assets$ 126,946$ 120 ...

CHC Finance: Finance 101

Phillip Bergquist - MPCA

The document provides an overview of key financial concepts and metrics for health centers, including operating revenues, expenses, income statements, balance sheets, cash flow statements, and key performance indicators. It discusses gross patient revenue, contractual adjustments, net patient revenue, operating and non-operating income, operating margins, days in accounts receivable, accounts receivable over 90 days, clinical encounters, and comparing metrics to prior years to measure progress. The presentation aims to make financial statements and metrics clear and help readers understand and monitor organizational performance.

Case study – assignment week 6 instructions  read th

honey690131

1. Physicians Management Inc. (PMI) took over management of Sunset Medical in February 2019. While revenues increased under PMI, cash balances declined significantly despite the additional $400,000 in revenue. 2. The financial statements prepared by PMI and Jackson & Associates show differences that affect reported revenues and receivables. Dr. Jones questions whether actual revenues increased by $400,000 as PMI claims. 3. The contract between Sunset and PMI creates an ethical dilemma for PMI as it provides incentives for PMI to report financials in a way that is not fully transparent or aligned with Sunset's interests. Dr. Jones must determine whether to retain or terminate PMI based on analyzing the

1 Introduced Budget

Hoboken Resistance

The document summarizes the city of Hoboken's municipal and parking utility budget for fiscal year 2010. Some key points: - The budget reduces the amount to be raised by taxes by 8% from the previous year through cost-cutting measures. - It focuses on supplying staffing for public health and safety while increasing revenues. - Major cost drivers are increases in health care costs, pensions, and salaries, while revenues have decreased. - Non-discretionary spending such as salaries, pensions, debt service, and insurance make up the majority of the budget at over $89 million.

ACC2 M4S4We’re continuing to analyze the Nybrostrand as in ass.docx

annetnash8266

ACC2 M4S4 We’re continuing to analyze the Nybrostrand as in assignments 1 , 2, and 3. Based on additional information added in assignments 2 and 3, please use the information below to make a statement of cash flows. · The beginning cash balance is $30,000. · Use the Net Income from Module 2. · Use depreciation expense of Module 1. · During the year 14, Inventory increases by $42,500. · During the year 14, Land increases by $400,000. · During the year 14, Long-Term Debts increases $360,000. · During the year 14, the company made a secondary offering of stock and raised an additional $180,000, which includes $150,000 of Paid-in capital. · During the year 14, the company had paid $15,000 in dividends. Using the Indirect Method, prepare a statement of cash flows for the company in good format and compare two financial statements between the income statement and statement of cash flows. You do not need to include the income statement or balance sheet. This is a Signature Assignment Expectation for Accounting 201 There are 2 specific learning outcomes: 1) apply business theories, models and concepts to guide analysis of problems and situations and 2) utilize data driven analysis in making business decisions. In this Session Long Project number 4, our emphasis will be on understanding the statement of cash flows. You will be summarizing all of what you learned in the overall class and discussions. Assignment Expectations · Create a statement of cash flows and compare cash flows with net income. · Write 3-4 pages, showing computations and discussing the results. · List supporting references and cite your sources in APA format in text and listed at the end on a separate page. · Use appropriate writing style (organization, grammar, and spelling). · The paper will be typed in Times New Roman, Font 12, Double Spaced. Information gathered from Assignment 1: This paper gives an analysis of Nybrostrand Company with a view to show the financial position and the net profits available to the shareholders. The study aims to show the company’s financial profile to attract would-be investors and show conformity to internationally accepted accounting standards. Nybrostrand Company Income Statement For the year ended December 31, 2014 Account Debit Credit Revenue $586,000 Cost of goods sold $307,000 Gross Profit $279,000 Expenses Marketing $4,500 Depreciation Expense $24,350 Insurance $1,400 Property taxes $16,900 Rent $28,000 Salaries $78,500 Utilities $6,700 $160,350 Net Profit $118,650 About the income statement shown above, the company is presumed to be successful. The net profit is calculated in this order. All the expenses are summed up then they are subtracted from the revenues or sales figure (Maynard). This is the ultimate net profit. On the other hand, the gross profit is calculated when the cost of goods sold is subtracted from revenues. The cost of sales is the amount got from the addition of opening stock, cost.

The following monthly data are taken from Ramirez Company at July 31.pdf

feelingspaldi

The following monthly data are taken from Ramirez Company at July 31: Sales salaries, $200,000; Office salaries, $160,000; Federal income taxes withheld, $90,000; State income taxes withheld, $20,000; Social security taxes withheld, $22,320; Medicare taxes withheld, $5,220; Medical insurance premiums, $7,000; Life insurance premiums, $4,000; Union dues deducted, $1,000; and Salaries subject to unemployment taxes, $50,000. The employee pays 40% of medical and life insurance premiums. Assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. 1&2. Using the above information, complete the below table and Prepare the journal entries to record accrued payroll and cash payment of the net payroll for July 3. Using the above information, complete the below table 4. Record the accrued employer payroll taxes and all other employer-paid expenses and the cash payment of all liabilities for July- assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6% Solution Date Accounts Title Dr Cr 1 & 2 Sales Salaries Expense $200,000 Office Salaries Expense 160000 Social Security Tax Payable $22,320 Medicare Tax Payable 5220 Employees Federal Income Tax Payable 90,000 Employees State income tax Payble 20,000 Union dues payable 1,000 Life Insurance premium payable (4000*40%) 1,600 Medical insurance payable (7000*40%) 2800 Salaries Payable $217,060 salaries payable $217,060 Cash $217,060 31-Jul Payroll tax expense 37,140 Social Security Tax Payable $22,320 Medicare Tax Payable $5,220 State Unemployment Tax Payable (50000*5.4%) 2700 Federal Unemployment Tax Payable (50000*.6%) 300 Life Insurance premium payable (4000*60%) 2,400 Medical insurance payable (7000*60%) 4200 (employer benefit expenses recorded) 31-Jul Social Security Tax Payable $44,640 Medicare Tax Payable $10,440 Employees Federal Income Tax Payable 90,000 Employees State income tax Payble 20,000 Union dues payable 1,000 Life Insurance premium payable \\ $4,000 Medical insurance payable 7000 State Unemployment Tax Payable 2700 Federal Unemployment Tax Payable 300 Cash $180,080 (being paymnet of liabilities for payroll paid) If any doubt please comment.

OXYS Investor Presentation

RedChip Companies, Inc.

OxySure Systems reported financial results for the third quarter of 2015 with total revenue increasing 39% compared to the third quarter of 2014. Gross profit rose 12% and total cash increased 210% while working capital surplus grew 253%. The company achieved its 14th consecutive quarter of revenue growth and expects revenue to approach $5 million annually with potential for $10 million in revenue in 2016. OxySure continues to see strong sales in law enforcement customers and medical devices such as Quickclot Hemostatic Solution and AEDs.

HM 416 Chapter 2

BealCollegeOnline

The document discusses key concepts related to understanding financial statements for health information and informatics professionals. It defines the differences between financial and managerial accounting, as well as cash-based versus accrual-based accounting. The four main components of a financial statement are identified as the balance sheet, income statement, statement of cash flows, and statement of changes in net equity/equity statement. Each component is described in 1-3 sentences with high level information.

Feb 2011 repair bill lfb analysis

markhorn

Money Regulation In Healthcare PowerPoint Presentation Slides

SlideTeam

Presenting this set of slides with name - Money Regulation In Healthcare Powerpoint Presentation Slides. Enhance your audiences knowledge with this well researched complete deck. Showcase all the important features of the deck with perfect visuals. This deck comprises of total of fourty one slides with each slide explained in detail. Each template comprises of professional diagrams and layouts. Our professional PowerPoint experts have also included icons, graphs and charts for your convenience. All you have to do is DOWNLOAD the deck. Make changes as per the requirement. Yes, these PPT slides are completely customizable. Edit the colour, text and font size. Add or delete the content from the slide. And leave your audience awestruck with the professionally designed Money Regulation In Healthcare Powerpoint Presentation Slides complete deck.

Summary Page Healthcare Company Financial Analysis Document Ppt Pdf Doc Print...

SlideTeam

Here we present Summary Page Healthcare Company Financial Analysis one pager PowerPoint template. Determine the financial strengths and weakness of your company in relations to other companies using this Summary Page Food and Beverages one pager template. This financial statement analysis one pager PowerPoint slide covers the company overview, product line, senior management team, key financial, etc. Keep a tab on the companys financial performance and give an insight about the same to the investors. Giving an outline of your companys finance and workings help you raise funds from your investors as it becomes easy for them to decide about the investment. This business evaluation one pager gives you enough space to present your team members and their designation. Insert their pictures and give a personal touch to your audience. Watch your sales performance in different areas and elucidate the same by making alterations in the pie chart. Restaurant companies can employ this financial analysis one pager template and can clearly present a snapshot of their workings. Grab this Summary Page Healthcare Company Financial Analysis one pager template now. https://bit.ly/3yOiOGJ

Ross7e ch02

Alfredo Vasquez

This chapter discusses key accounting statements used to analyze the financial performance and cash flows of a company. It includes: 1) The balance sheet, which provides a snapshot of assets, liabilities, and equity on a given date. 2) The income statement, which measures revenues and expenses over a period of time to determine net income. 3) The statement of cash flows, which reconciles cash flows from operating, investing, and financing activities to understand a company's actual cash position.

Top ACOs: Ranked by Savings

TrustRobin

Financial Planning In Healthcare PowerPoint Presentation Slides

SlideTeam

This complete deck is oriented to make sure you do not lag in your presentations. Our creatively crafted slides come with apt research and planning. This exclusive deck with fourtythree slides is here to help you to strategize, plan, analyse, or segment the topic with clear understanding and apprehension. Utilize ready to use presentation slides on Financial Planning In Healthcare PowerPoint Presentation Slides with all sorts of editable templates, charts and graphs, overviews, analysis templates. It is usable for marking important decisions and covering critical issues. Display and present all possible kinds of underlying nuances, progress factors for an all inclusive presentation for the teams. This presentation deck can be used by all professionals, managers, individuals, internal external teams involved in any company organization.

H F M A’s I n t r o d u c t i o n t o H o s p i t a l A c .docx

whittemorelucilla

H F M A’s I n t r o d u c t i o n t o H o s p i t a l A c c o u n t i n g162 604 Insurance expense 2,300 605 Repairs expense 4,100 606 Rent expense 2,800 607 Depreciation expense 9,400 608 Interest expense 1,400 609 Bad debt expense 11,600 610 Other expenses 7,200 Required: (1) Prepare, in general journal form, the necessary closing entries for the year ended December 31, 20X1. (2) Prepare, in good form, the 20X1 statement of operations for Gatorberg Hospital. P8.3. The following is the preadjusted trial balance of Grandtown Hospital at December 31, 20X1, the end of the hospital’s current fiscal year: Acct. No. Dr. Cr. 101 Cash $ 37,500 102 Temporary investments 30,000 103 Accrued interest receivable -0- 104 Accounts receivable 120,000 105 Allowance for uncollectible accounts $ -0- 106 Inventory 14,000 107 Prepaid insurance 3,600 120 Land 25,000 130 Buildings 250,000 131 Accumulated depreciation—buildings -0- 140 Equipment 140,000 141 Accumulated depreciation—equipment -0- 201 Accounts payable 37,400 203 Accrued interest payable -0- 204 Accrued salaries and wages payable -0- 205 Deferred rental income 2,700 250 Bonds payable 150,000 301 Hospital net assets 395,700 302 Revenue and expense summary -0- 401 Routine services revenue 171,200 402 Ancillary services revenue 110,300 403 Interest income -0- 404 Rental income -0- 406 Other operating revenues 23,500 501 Contractual adjustments 22,700 502 Charity care adjustments 31,100 601 Salaries and wages expense 155,600 C h a p t e r E i g h t : A c c o u n t i n g Cy c l e S u m m a r y 163 602 Supplies expense 33,100 603 Utilities expense 14,900 604 Insurance expense -0- 605 Repairs expense 6,400 607 Depreciation expense -0- 608 Interest expense 4,500 609 Bad debt expense -0- 610 Other expenses 2,400 Totals $890,800 $890,800 The following additional information is available: 1. The temporary investment consists of $30,000 (face value) of 8 percent bonds acquired by the hospital on November 1, 20X1. These bonds pay interest annually on November 1, commencing on November 1, 20X2. 2. Of the December 31, 20X1, accounts receivable, it is estimated that 14 percent will eventually prove uncollectible by reason of (1) charity care, 7 percent; (2) contractual adjustments, 4 percent; and (3) bad debts, 3 percent. 3. A two-year insurance premium of $3,600 was paid in advance by the hospital on January 1, 20X1. 4. The hospital building, which was acquired on January 1, 20X1, has an estimated useful life of 50 years and a 20 percent salvage value. 5. The equipment, which was acquired on January 1, 20X1, has an estimated useful life of 12 years and a $20,000 salvage value. 6. On January 1, 20X1, the hospital issued $150,000 of 20-year, 6 percent bonds at face value. These bonds pay interest semiannu- ally on January 1 and July 1, commencing July 1, 20X1. 7. Unpaid salaries and wages at December 31, 20X1, amounted to $12,300. 8. The hospital received one year’s rent of $2,700 ...

Assignment 10-1 Components of Balance Sheet and Statement of Net .docx

sherni1

Assignment 10-1: Components of Balance Sheet and Statement of Net Income Refer to the Metropolis Health System (MHS) financial statements contained in Appendix 28-A below. Use the MHS comparative balance sheet, statement of revenue and expenses, and statement of fund balance for this assignment. APPENDIX 28-A Metropolis Health System’s Financial Statements and Excerpts from Notes Metropolis Health System Balance Sheet March 31, 20X3 and 20X2 Assets Current Assets Cash/Cash Equivalent $1,150,000 $400,000 Assets whose use is limited $825,000 $825,000 Patient Accts Receivable $8,700,000 $8,950,000 Less Allowance for Bad Debts (1,300,000) (1,300,000) Other Receivables 150,000 100,000 Inventories of Supplies 900,000 850,000 Prepaid Expenses 200,000 150,000 Total Current Assets 10,625,000 9,975,000 Assets Whose Use Is Limited Corporate funded depreciation 1,950,000 1,800,000 Under bond indenture agreements—held by trustee 1,425,000 1,475,000 Total Assets Whose Use Is Limited 3,375,000 3,275,000 Less Current Portion (825,000) (825,000) Net Assets Whose Use Is Limited 2,550,000 2,450,000 Property, Plant, and Equipment, Net 19,300,000 19,200,000 Other Assets 325,000 375,000 Total Assets $32,800,000 $32,000,000 Identify the following MHS balance sheet components. List the name of each component and its amount(s) from the appropriate MHS financial statement. Current Liabilities Total Assets Income from Operations Accumulated Depreciation Total Operating Revenue Current Portion of Long-Term Debt Interest Income Inventories Doctors Smith and Brown: Statement of Net Income for the Three ...

MICROSOFT CORPORATIONFinancialStatementFY20Q1BALANCE SHEETS.docx

roushhsiu

MICROSOFT CORPORATION FinancialStatementFY20Q1 BALANCE SHEETS (In millions) (Unaudited) June 30, June 30, 2019 2018 Assets Current assets: Cash and cash equivalents $11,356,000 $11,946,000 Short-term investments $122,463,000 $ 121,822,000 Total cash, cash equivalents, and short-term investments $133,819,000 $ 133,768,000 Accounts receivable, net of allowance for doubtful accounts of $411 and $377 $ 29,524,000 $ 26,481,000 Inventories $ 2,063,000 $ 2,662,000 Other current assets $ 10,146,000 $ 6,751,000 Total current assets $175,552,000 $ 169,662,000 Long-term assets: Property and equipment, net of accumulated depreciation of $35,330 and $29,223 $ 36,477,000 $ 29,460,000 Operating lease right-of-use assets $ 7,379,000 $ 6,686,000 Equity investments $ 2,649,000 $ 1,862,000 Goodwill $ 42,026,000 $ 35,683,000 Intangible assets, net $ 7,750,000 $ 8,053,000 Other long-term assets $ 14,723,000 $ 7,442,000 Deferred asset charges $ - $ - Total assets $286,556,000 $258,848,000 Liabilities and stockholders' equity Current liabilities: Accounts payable $9,382,000 $8,617,000 Short-term Debt/Current portion of long-term debt $ 5,516,000 $ 3,998,000 Accrued compensation $ 6,830,000 $ 6,103,000 Short-term income taxes $ 5,665,000 $ 2,121,000 Short-term unearned revenue $ 32,676,000 $ 28,905,000 Other current liabilities $ 9,351,000 $ 8,744,000 Total current liabilities $ 69,420,000 $ 58,488,000 Long-term debt $ 66,662,000 $ 72,242,000 Long-term income taxes $ 29,612,000 $ 30,265,000 Long-term unearned revenue $ 4,530,000 $ 3,815,000 Deferred income taxes $ 233,000 $ 541,000 Operating lease liabilities $ 6,188,000 $ 5,568,000 Other long-term liabilities $ 7,581,000 $ 5,211,000 Misc. Stocks $ - $ - Minority interest $ - $ - Total liabilities $184,226,000 $176,130,000 Stockholders' equity: Common stock and paid-in capital - shares authorized 24,000; outstanding 7,643 and 7,677 $ 78,520,000 $ 71,223,000 Retained earnings $ 24,150,000 $ 13,682,000 Accumulated other comprehensive loss/Other equity $ (340,000) $ (2,187,000) Total stockholders' equity $102,330,000 $ 82,718,000 Total liabilities and stockholders' equity $286,556,000 $258,848,000 MICROSOFT CORPORATION INCOME STATEMENTS (In millions, except per share amounts) (Unaudited) Twelve Months Ended June 30, 2019 2018 Sales: Product $66,069,000 $64,497,000 Service and other $ 59,774,000 $ 45,863,000 Net sales $125,843,000 $110,360,000 Cost of goods sold: .

Critical Response Rubric Category 0 1 1.5 2 Timelin.docx

UNDERSTANDING HEALTHCARE FINANCIAL MANAGEMENT.docx

Recommended

Recommended

More Related Content

Similar to UNDERSTANDING HEALTHCARE FINANCIAL MANAGEMENT.docx

Similar to UNDERSTANDING HEALTHCARE FINANCIAL MANAGEMENT.docx (20)

More from willcoxjanay

More from willcoxjanay (20)

Recently uploaded

Recently uploaded (20)

UNDERSTANDING HEALTHCARE FINANCIAL MANAGEMENT.docx