Organizational Financial Analysis Examine Programs That Provide Solutions To Today’s Health Care Problems. Evaluate The Impact Of The Choice On Global Health Care Options And The Impact Of Fraud On The Health Care System

2419 words - 10 pages

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Organizational Financial AnalysisUniversity of PhoenixOrganizational Financial AnalysisIntroductionFinancial analysis is a necessary means of interpreting data to determine if an organization is profitable or not. Today, most managers are required to be responsible for the finances and accounting for their entire department with an expectation to analyze and understand these reports. This paper will examine a healthcare system known as Happy Hospital and the financial reports produced. It will look at items such as dominant payers, balance sheets, financial principles used and of course, the budgeting process. With the use of these financial statements, determination of the profitability and efficiency of this organization will be the goal.Happy Hospital is a medium sized community hospital with 115 beds, loosely affiliated with six other facilities and two long-term care providers. The CEO of Happy Hospital is Mr. Harm O. Knee. He is operating a loss of $829,000; he is pushing harder than ever. Happy Hospital has a long and proud tradition of providing high quality care, meeting the needs of the community, and serving all individuals with respect and dignity regardless of ability to pay. Moreover, the IRS as a not-for-profit recognizes Happy Hospital and a 501(c) 3 Corporation thus makes the hospital exempt from paying income taxes (Finkler & Ward, 2006).Dominate PayersHappy Hospital dedicates the organization practices and processes to deliver safe and efficient services for the benefit of patients, physicians, and providers. A role for healthcare services is to adapt strategies from all areas of public life and industry to the complexities of healthcare, devoting to providing effective service exclusively to the healthcare profession. Today's healthcare organizations must find reliable solutions to issues such as care for the financial challenges, un-insured, personnel shortages, physician hospital relations and governmental mandates by delivering the organizations goals quickly, efficiently and cost effectively.Expenses for today's healthcare executive must find reliable solutions to address issues such as care for the un-insured, financial challenges, personnel shortages, physician hospital relations, and governmental mandates by delivering the organizations goals quickly, efficiently, and cost effectively. The hospital's goal is to provide services with no worries to the community and no worries on payments made to the organization. In order to meet this objective, the patients, no matter what their financial position is, receive appointments. Mr. Knee, CFO, goal is to take on a medical record programs that would encourage building more partnerships and sharing of medical notes (Finkler & Ward, 2006).At a Medicare and Medicaid facility, many of the providers are required to negotiate and agree to rates accepted from different insurance companies. One or two payers such as...

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