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Impact of Affordable Care Act essay
The impact of the Affordable Care Act on healthcare
Impact of Affordable Care Act essay
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In this case, the reader learns that liquidity is a better than average. The ratio and cash on hand have been better than 2013 from the past years. Moreover, it shows that the hospital has a higher ability to meet its cash obligation because it has more security compared to other hospitals. Funding allows hospitals to control funds and limit investments. Not-for-profit organizations help provide more services and margin of safety. Therefore, creditors look for a margin of safety so that the community that financed a small portion of total financing can be returned to the owners by leveraging. Capitalization ratio measures the funds that were borrowed and the assets that have been used. The coverage ratio measures the number that time they fixed financial charges. The time's interest earned ratio shows the ability of the hospital to meet …show more content…
The expense per discharge and the expense per adjusted discharge are both higher than average. The positive trend in outpatient profitability has been in an increase in profit per visit and net revenue per visit. Outpatients profit has influenced the hospitals in expanding their outpatients and shrinking its inpatient services. Inpatient charges increased the net revenue per discharge shown in the quartile information. The Riverview Community Hospital is known to provide high-quality services to its patients. It provides an adequate amount of revenue to cover its expenses. Moreover, it allows provides charity care without affecting its stability. Also, the Riverview community hospital has joint reimbursement from the government. The length of hospital stays has been below average with allowing doctors and nurses with effective resources. The average length is below average it is quite beneficial to both patients and the hospital because it is less costly, and opens up resources for other nurses and doctors not only does it help out the workers, but allows the patient to be taken care of with accessible facilities. Therefore, it
The purpose of financial measurement in healthcare is to provide the community with the services it needs, at a clinically acceptable level of quality, at a publicly responsive level of amenity, at the least possible cost. This is done by providing healthcare finance managers with accounting and finance information to help accomplish the purpose of the organization (Nowicki, 2015). When making accounting decisions about budgeting and inventory control, an understanding of economics, statistics, and operations research is needed. Major Financial Measures
First, let us analyze General Practice Affiliates’ current financial position. The income and expenses report shows a net revenue of $230,250. The net revenue is obtained after expenses, including taxes, of the company have been subtracted from revenue (Paterson, 2014, p. 124). The balance sheet shows a $306,180 in retained earnings. Retained earnings represent stakeholders’ equity (Paterson, 2014, p. 128). Retained earnings are usually invested back in the form of inventory or debt payments (Albrecht, Stice, Stice , & Swain, 2008). General Practice Affiliates’ cash flow analysis shows that the practice invests in new equipment. However, General Practice Affiliates mainly used cash during 2012. The main source of cash from operations came from depreciation expense, which is not a reliable source of funding (Paterson, 2014, p. 130). Accounts receivable increased by $50,000, while accounts payable only increased by $10,000. In addition, cash flow analysis shows a balance sheet data that is affected by future transactions (Paterson, 2014, p. 128). General Practice Affiliates choose to stretch the time to pay suppliers instead of paying its bills. ...
The cost of Medical equipment plays a significant role in the delivery of health care. The clinical engineering at Victoria Hospital is an important branch of the hospital team management that are working to strategies ways to improve quality of service and lower cost repairs of equipments. The team members from Biomedical and maintenance engineering’s roles are to ensure utilization of quality equipments such as endoscope and minimize length of repair time. All these issues are a major influence in the hospital’s project cost. For example, Victory hospital, which is located in Canada, is in the process of evaluating different options to decrease cost of its endoscope repair. This equipment is use in the endoscopy department for gastroenterological and surgical procedures. In 1993, 2,500 cases where approximately performed and extensive maintenance of the equipment where needed before and after each of those cases. Despite the appropriate care of the scope, repair requirement where still needed. The total cost of repair that year was $60,000 and the repair services where done by an original equipment manufacturers in Ontario.
... organization's management. The ratios were broken down into classifications of liquidity and asset utilization, debt and interest coverage, profitability and market-based ratios.
For-profit hospitals have owners and issue stock to those owners to reflect their equity position (Williams & Torrens, page 185). For-profit hospitals are not just accountable to the community but must also provide a return on investment to the shareholders; they expect to generate a profit to pay a return to the equity investors for their capital (Williams & Torrens, page 186).... ... middle of paper ... ...
A two car accident Friday in downtown Heartland sent three people to the hospital with moderate injuries.
Overall, Trinity is located in an area where 53% of gross revenues are Medicare accounts, the unemployment rate is higher than the state and/or national averages, and income levels are below state and national averages (Moody's, 2012). Overall, Trinity has some strengths and weaknesses within its financial debt portfolio in order, for Trinity to improve its debt rating it will need to improve its operating margins and revenues (Moody's, 2013). Therefore, Trinity needs to improve and sustain its operating performance, improve its leverage and liquidity ratios, and increase its absolute liquidity (Moody's, 2013). As a result, if Trinity does not improve then a decrease in performance will increase its debt. Overall, the strengths in Trinity's debt ratios are outweighing its weaknesses for now however, the hospital needs some improvements. Consequently, if Trinity invests in new expensive capital that significantly increase its debt or a decline in liquidity without improvements in cash flows, than the hospital will encounter financial distress (Moody's,
The financial statements from Johns Hopkins Hospital (JHH) were used to calculate and analyze the meaning of the financial health of the organization from the years 2010-2012 (Appendix A). The following five major types of ratios were used: common size, liquidity, solvency, efficiency, and profitability
In the state of Washington there are two state owned hospitals that treat adults with Psychiatric problems. One is in Eastern Washington, Eastern State Hospital and serves the counties on the Eastern Washington. The other serves the Western portion of the state and is Western State Hospital (WSH). Western State Hospital is the larger of the two state hospitals. In fact it is listed on its website as being the largest psychiatric hospital west of the Mississippi River.
We will be converting the Central Florida Regional hospital as the first test bag to make sure-Mr. Clark did an update for the Nutrilipid on all the Baxter pumps.
It is with both excitement and sadness that we announce that Roger Stauffer, chaplain for MidMichigan Medical Center – Midland, will retire on Jan. 31, 2018. Roger has been with the Medical Center since December 1999. Through the years Roger has helped meet the spiritual and emotional needs of our patients, families and our employees. He has been present and journeyed with so many during times of great sorrow and times of great joy. His presence, in any situation, has always been welcome and appreciated.
The state of Rhode Island continues to be in the media for the constant negligence of the Rhode Island Hospital. The jury awarded Carl Beauchamp $31.5 million for the hospital, doctors, and nurses’ negligence. In August of 2009, Beauchamp hit his head and went to he Rhode Island Hospital seeking treatment. However, he failed to receive the correct treatment for his injury. The doctors and nurses failed to correctly diagnose, perform necessary exams and tests, and thoroughly check for worsening symptoms; thus, Beauchamp’s brain continued to swell resulting in brain damage. As a consequence of the doctors and nurses failure to take complete care of the patient, he now requires daily care and is bound by his need of a wheelchair. His speech, vision,
In the modern world of the health-care industry, it is vital that an organization’s financial statement analyses be kept up to date and reported accurately within the company. A financial analysis is an evaluative method of determining the past, current and projected performance of a company (Investopedia.com, 2016). Collectively, patients seek superior quality of health care services and integrity from professionals who work in the hospitals and serve the communities worldwide. Although the health care industry is rapidly changing as time progresses, providers still have an obligation to satisfy the patients and deliver excellent care to those in need.
Financial viability is categorized by patients and nonpatients. Patients consist of patients who pay all themselves and use insurance companies like Blue Cross and Blue Shield, Medicaid and Medicare. Nonpatients are when patients pay using tax support, grants, and other contributions (Cleverley, Cleverley, & Song, 2011). Financial viability is used as financial indicators to see if the hospital is improving it care by increasing the number of patients seen. To achieve financial viability hospitals, need sound financial management practices to effectively and efficiently reach their goals (Suarez, Lesneski, & Denison, 2011). Financial viability is a vital part of the health care
The knowledge of the alternative forms of financing and organizing of health services further helps administrators in organizing different kinds of cost-effective projects that can be undertaken by the institution. Moreover, the information can also be used in making decisions regarding the cost of health service provided by a health facility in an effort of ensuring that the services offered are of high quality and affordable to all. Further, a clear understanding of the socioeconomic factors such as the level of education, income, and unemployment rates is essential in enhancing proper resource allocation which will ensure that patients get quality services irrespective of their socioeconomic