Financial Data Analysis - 838 Words

Financial Data Analysis Tracey White HCS/577 April 15, 2013 David Mier Financial Data Analysis In addition to delivering health care of the highest quality, another main goal of a health care organization is to remain profitable and viable through effective financial management. In an effort to do so, members of administration along with the Chief Financial Officer (CFO) work diligently in attempting to maintain and sustain a successful health care organization by monitoring the flow of cash (in and out) in accordance to GAAP (Generally Accepted Accounting Principles), while ensuring the needs and wants of the consumers are met. With this being the case, health care accounting skills are equally important in†¦show more content†¦When figured, 48% of revenue was spent on salaries and benefits in 2009 compared to 51% in 2008. The other significant change in depreciation of expenses resulted in a 69% increase from 2008 and 2009. Last but not least, although the net income is still in the negative, improvement is obvious and the facility is looking to recover in 2 010. In review of the balance sheet, appears a significant difference in liabilities and equity. Shown is a drastic increase (248%) in long term debt. The possible explanation for this change may have been the result of the hospital acquiring a loan for a new treatment center on campus (property, plant and equipment). With this being the case, explains the increase in inventories that are up 118% from 2008 to 2009. Again, financial statements are effective tools in helping organizations determine their financial positions in the health care industry. The use of balance statements help determine the amount of assets, liabilities, and equity over long term, while statements of revenue and expenses provides an overview of profits minus expenses short term. In the case of Patton Fuller Community Hospital, per the admission of the CEO, the facility suffered a financial loss; however, with patient net revenue up, they expect future financial statements to show a continued profitableShow MoreRelatedFinancial Data Analysis1778 Words   |  8 PagesRunning Head: FINANCIAL DATA Financial Data Analysis Wanda Douglas Financial Management In Health Care /HCS 577 April 02, 2012 Tricia Jenkins Financial Data Analysis Since 1975, Patton Fuller Community Hospital (PFCH) has been serving the people of the Kelsey and the surrounding communities. PFCH is a for-profit organization and is owned by physician active within the facility. 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