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Patton Fuller Community Hospital - Financial Data Analysis

Essay by   •  December 13, 2013  •  Case Study  •  736 Words (3 Pages)  •  1,802 Views

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Financial Data Analysis

Tim Anderson

HCS/577

December 10 2013

Sharon Gomes-Sanders

Financial Data Analysis

This writer will analyze Patton Fuller Community Hospital, a for-profit organizations financial data and establish what became of the $1million that was left to the hospital. This hospital is dedicated to providing excellent services to their patients. Owned by a group of practicing physicians sworn to providing quality care to 600 plus patients, this community hospital provides a complete service environment.

According to Finkler and Ward, (2006), all health care organizations should demonstrate signs of revenue in order to purchase newer technology and be able to compete with other organizations. The hospital provided a financial report known as a financial audit.

According to Gapenski (2008), a financial report shows the monetary accounting of an organization from the beginning to end, a cash flow statement, income statement and the balance sheet. The financial stability is identified in this statement and includes the cash flow statements, income statement, and the balance sheet.

The hospitals financial report shows a considerable difference between 2008 and 2009. According to the auditors, there was a 10% rise in outpatient visits and admissions to the hospital. Based on the audit form submitted the expenses that Patton Fuller Community Hospital experienced were increases. There was a 5% increase in the supplies line. The reason for the increase may perhaps been related to the increase in outpatients and there admittance (Apollo Group, Inc., 2013). This being an observation, as there is no direct statement connected to this line item or association that could be emphasized for reassurance and liability as we continue to examine the account at hand.

The diligent examination of these annual reports and financial statements will require recognizing that the 80% of the revenue is from inpatient activity, which includes surgery charges, medical-surgical nursing and intensive care unit (ICU) charges. The remaining 20% of its revenue is from the emergency department and other outpatient services (Apollo Group, Inc., 2013).

According to a report from the CEO of Patton Fuller, even with the economic downfall from the previous year the hospital has seen a $16 million dollar increase in revenue. Net Patient Revenue has increased at a rate of 9% while expense increases holding at 3% The hospital has received and taken advantage of discounts on equipment and supplies from vendors and received approval from the board of directors for borrowing on new equipment, which is echoed in the report from the CFO of Patton Fuller. These

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