...Patton-Fuller Ratio Computation Patton-Fuller Ratio Computation July 8, 2013 HCS/405 Regina Robinson The Eight Basic Ratios 1. Current Ratio (Unaudited) 2009 Current Assets $128,867 ÷ Current Liabilities $23,807= 5.4129877 or 5.413 (5 to 1) 2008 Current Assets $130,026 ÷ Current Liabilities $8,380 = 15.516229 or 15.516 (15 to 1) Current Ratio (Audited) 2009 $128,867 ÷ $23,807= 5.3709833 or 5.371(5 to 1) 2008 $130,026 ÷ $8,380= 15.516229 or 15.516 (15 to 1) Disagree: This ratio is consistently a measure of short-term debt paying ability (Baker & Baker, 2011). However, it must be carefully interpreted (Baker & Baker, 2011). Observationally, the CEO’s report to the board that all financial ratios have improved is inaccurate; in all actuality, the ratios have not. In effect, the numbers simply do not back up the declaration. The unaudited and audited current ratios show that in 2008 the hospital’s assets were greater than those in 2009 were. This ratio also shows the current assets in 2008 were much higher than the current liabilities for the same year, a ratio of 15 to 1. In 2009 the current assets to current liabilities ratio was only 5 to 1. The hospital’s assets were lower in 2009 and yet the liabilities in 2009 were higher. The hospital’s assets were higher in 2008 and the liabilities in 2008 were lower. This shows the hospital was more profitable...
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...Financial Data Analysis Jesse Patacsil HCS 577 June 29, 2012 Financial Data Analysis Financial data analysis is the procedure for assessing budgets and other finance-related things to determine the sustainability of a business venture. A financial analysis is used to analyze whether a unit is constant, solvent, liquid, or profitable enough to be invested in by shareholders. When looking at a specific company, the financial analyst will often focus on the income statement, balance sheet, and statement of revenue and expenses statements. In addition, one key area of financial analysis involves comparing the company's past year performance into an estimate of the company's future performance.(Stock Analysis, 2912) On the Balance sheet the patient accounts receivable had a larger allowance for bad debts on the audited version. There was $1,000,000 more in the allowance for bad debts (or doubtful accounts) in the audited version of the financial statements (Patton-Fuller Community Hospital, 2009). This means that the hospital most likely will not collect on this patient accounts receivable and has classified it as a bad debt so it is estimated to result in a loss. The management uses historical data to estimate bad debt but new agreements with managed care payers required an adjustment to the expense and allowance during the audit (Patton-Fuller Community Hospital, 2009). This also decreases the total assets by $1,000,000 in the audited version of the balance sheet...
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...Patton-Fuller Community Hospital Networking David Loggins CMGT/554 October 13, 2013 La Shanda Perry Patton-Fuller Network Since 1975, Patton-Fuller Community Hospital has been in business as a non-profit full service health care institution which provides high level emergency medical care, physical therapy, radiology, surgery, labor and delivery, surgery and many other services that deal with the health and well being of its local community. In order for the organization to function correctly, it must have a good IT infrastructure to support their organization in order to achieve their goals and potential growth. Lets do an analysis of Patton-Fuller Community Hospital network system t o see if changes can be made to enhances the wireless and check to see if their any changes that can be made to make the network more efficient? Analysis of Network System The OSI model also known s the Open Systems Interconnection model is made up of 7 different layers which are very important in order for a network to function correctly. Each layer plays a different role in order for information to become accessible throughout the hospital. The network design used at Patton-Fuller Community Hospital is similar to a tree topological connection and Ethernet is in the centre having a centralized connectivity. The Administrative functions on the workstation using the server DHCP to obtain IP addresses. Black and white or color laser printer network is only a static DHCP IP is set...
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...Course Design Guide HCS/405 Version 5 1 Course Design Guide College of Natural Sciences HCS/405 Version 5 Health Care Financial Accounting Copyright © 2012, 2010, 2007, 2005, 2004, 2002, 1999 by University of Phoenix. All rights reserved. Course Description This course provides an understanding of the general principles of accounting applied in the health care environment. It includes an overview of sources of revenue for various health care entities. The fundamentals of financial planning, cost concepts, capital budgeting, and management analysis are applied in the health care environment. Issues surrounding the development and management of budgets are also examined. Policies Faculty and students will be held responsible for understanding and adhering to all policies contained within the following two documents: University policies: You must be logged into the student website to view this document. Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Baker, J. J., & Baker, R. W. (2011). Health care finance: Basic tools for nonfinancial managers (3rd ed.). Sudbury, MA: Jones & Bartlett Publishers. All electronic materials are available on the...
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...Financial Data Analysis Sharon M Flemming HCS 577 July 8, 2013 Dr. Patricia Jenkins Financial Data Analysis Financial management is an important aspect of health care financing. Whether for a hospital, medical group, or home care agency, long-term or short-term finance, maintaining accurate asset management records could mean the difference in failure or success for many organizations. The purpose of this assignment is to compare financial data for two consecutive years for Patton-Fuller Community Hospital from the 2008 and 2009 Balance sheets and Revenue and Expense sheets, and to identify significant changes between the years. I will also attempt to provide possible explanations for those changes based upon information provided within the Annual Report for that hospital. Patton-Fuller Community Hospital Financial Statements 2008-2009 Patton-Fuller Community Hospital (PFCH) is a large full service hospital providing cutting-edge medical care to Kelsey and the Northwest Valley since 1975. This is a physician owned organization with a fourteen member governing board in which each member with exception of the Chief Executive Officer (CEO) and the Chief Financial Officer (CFO) have equal voting rights. Each member serves a three-year term and elections are held each December, at which time four new members are voted in by the shareholders and profits are distributed among the owners (Apollo Group, Inc., 2013). According to the 2009 Annual Report the CFO indicates that...
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...Abstract One might think that a hospitals soul operations is to provide doctors and nurses to assist patients with their sickness and diseases. However, there is a ton of operations and systems that go on in the background. At Patton-Fuller Community Hospital, they split up their business information systems in four ways. Patton-Fuller Community Hospital use this system to improve communication and collaboration between senior management, employees, doctors, nurses and patients. In addition, the current system is suppose to improve the efficiency of hospital operations, relationships with current and future patients, and assist senior executives in managing hospital finances. PFCH System Breakdown The current breakdown of the business information system is split between the following: Accounting and Finance Information System, Human Resources Information System, Customer Relationship Management (CRM) Information System, Knowledge Management (KM) Information System. These four systems combine creates Patton-Fuller Community Hospital. The Accounting and Finance Information System; is primarily used by senior executives. The Patton-Fuller senior executives use this system to manage, cash flow, assets, liabilities, and net income. After all this information has been entered into this system PFCH has the ability to generate financial statements in which are requirements by federal regulations. For example, at the end of the month, someone from the PFCH team will enter in all...
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...Patton-Fuller Community Hospital Joshua Harris NTC/362 August 9th, 2012 Richard Douglass Patton-Fuller Community Hospital ”Patton- Fuller Community Hospital has prided itself on providing top-of-the-notch not-for-profit health care organization since their opening in 1975” (University of Phoenix, 2012). The hospital’s specialty is in providing high-quality health care to all patients, and establishing peaceful work relationships within the staff. Services provided by the hospital are “surgery, emergency medical care, physical therapy, labor and delivery, radiology, and more” (University of Phoenix, 2012). “In Kelsey, Patton-Fuller Community Hospital is the first hospital, dedicated at the hospital is to provide a variety of programs that will support and maintain the best health and welfare of the local community populations” (University of Phoenix, 2012). Duvv Enterprises is the IT solution for WAN/WLAN integration needs. For Patton-Fuller Community Hospital, we will address the existing network architecture of the hospital: Patton-Fuller utilizes a “high-end Local Area Network (LAN) (based on 1000Base-T using CAT 6 cable) that links all of its Systems Applications and Products (SAP) and terminals to workstations over a small geographic area. Duvv Enterprises will also touch basis with the implementation of a complete WLAN networking environment that calls also for the installation of Voice-Over-Internet-Protocol (VOIP), and the design...
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...Patton-Fuller Community Hospital's Structure and Functional Relationships Contribute to Its Success In this paper,I plan to analyze the reasons for Patton-Fuller Community Hospital's existence and organizational structure and identify the company's collaboration process and the roles of key stakeholders in order to achieve organizational goals. The results of each areas responsibility needs to contribute to the achievement of the company's outcomes and results, helping the company move towards the chosen strategic path. Moreover, I will provide an example of the use of lateral collaboration and vertical collaboration within the organization, and prepare an action plan to use lateral and vertical collaboration. Lastly, I will recommend the collaborative interactions among the key stakeholders to facilitate the organization's success. Reasons for Existence: Patton-Fuller Community Hospital is a non-for-profit healthcare organization that has provided a broad array of superior quality services and facilities to the city of Kelsey and the surrounding communities since 1975. The hospital provides specialized services such as emergency medical care, surgery, labor and delivery, physical therapy and radiology for adults and children. "As one of the first hospitals in Kelsey, they are also committed to providing a variety of programs that will support the health and welfare of their local community populations" (Apollo Group, 2006). The primary reasons for Patton-Fuller Community...
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...Are the financial ratios for the hospital improving? The Answer is: No There is a essential use and limitations of financial ratio analysis, One must keep in mind the following issues when using financial ratios: One of the most important reasons for using financial ratio analysis is comparability and for this, a reference point is required. Usually, financial ratios are compared to historical ratios of the business itself, competitor’s financial ratios or the overall ratios of the industry in question. Performance may be adjudged as against organizational goals or forecasts. A number of ratios must be analyzed together to get a true and reliable picture of the financial performance of the business. Relying on each ratio individually may not be a good strategy. Year-end values may not be truly representative of the actual performance of the business and hence, average values should be used when they are available. The limitations of accounting methods also apply to financial ratio analysis. The selection and application of accounting standards may result in different ratio values. Financial ratio analysis, in fact, has a great use in management accounting which differs from financial accounting in being an on-going, performance management exercise. This summary is a review of the annual report and financial statements and the differences between the audited and the unaudited statements. The financial ratios are examined to determine if there...
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...Financial Data Analysis Paper December 2, 2013 Introduction Patton Fuller Community Hospital was started in the year of 1975. Patton Fuller Community Hospital has been dedicated to good quality care. It is a 600-bed capacity. It is known to be a for profit hospital. Its physicians and some that are still practicing at the facility own Patton Fuller Community Hospital. The financials of Balance Sheet and Statement of Revenue and Expense demonstrates how a firm has used its funds. These statements identify the financial stability of the organization. Which includes but is not limited to the cash flow statements along with the income statement, and the balance sheet. The financial reports show differences between 2008 and 2009. Based on the examination or audit performed for Patton Fuller Community Hospital, the auditors point out that there was a 10% raise in patient revenues as well as additional revenues. (Patton-Fuller Community Hospital 2009) This could be because of possible raise in patient visits and services, which may include admissions to the hospital. On the observation of the audited form that was submitted by the auditors, it is available under the expenses where Patton Fuller Community Hospital has experience increases. The supplies line item experienced a 5% increase, which totaled 3,238. The reason for such an increase may perhaps been easily related with the payments to vendors and the cost...
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...Data Analysis Patton Fuller Community Hospital is famous for specializing in medical care, surgery, physical therapy, pharmacy, radiology, delivery, and labor. Patton Fuller Hospital has been established in 1975. The main focus of the hospital is to offer quality medical services to all of their patients whether they are children or adults. Patton Fuller Hospital is one of the first hospitals in Kelsey. It is devoted to offer many diverse programs and services that would help them maintaining their patients' health. Patton Fuller hospital has a network that is complex and has built around the fundamentals of appropriate development of systems, in that the hospital as an organization is broken down into its primary operational components, a clinical half, and an administrative half. The administrative half of the hospital consists of such departments as human resources, accounting, reception, and executive offices; although the clinical side made of those areas perform patient care, such as operating rooms, the pharmacy, and so on. To begin, today what will be reviewed today will be analyzed financial data from the Patton-Fuller Hospital. Analysis of data is a process of inspecting, cleaning, transforming, and modeling data with the goal of discovering useful information, suggesting conclusions, and supporting decision making. Data analysis has multiple facets and approaches, encompassing diverse techniques under a variety of names, in different business, science...
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...Patton-Fuller Community Hospital: Analysis for Improvement Jordan Mobley CMGT/554 Patton-Fuller Community Hospital: Analysis for Improvement The Patton-Fuller Community Hospital can implement entire offices of the hospital in a suitable of, which systems are beneficial in keeping personal within the loop. The hospital position to consolidate several divisions in applying ERP, CRM and KM. The ERP system exploits different administration divisions altogether managing data functioning with administration at supreme levels. The ERP system commonly uses the enterprise system (ES) on large-scale application software that supports business processes, data flows, and data analytics. The hospital abuses an assortment of networking methodologies in promoting different divisions within the company. Separate divisions incorporate their own requirements within the network to negotiate different functions. A balanced comprehension in combining different divisions, while also utilizing software applications within the department. An example of this, Radiology division the essentially utilizing variety electronic devices taking X-rays and processing the film. Expediting these conditions to doctors or medical staff data information is detrimental to the patient’s treatment. Daily functions in the transmission of data information to various departments is delayed. Radiology and Pharmacy departments rely on the capability ERP in providing an urgency in saving lives, while also maintaining...
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...Steven Randel Patton- Fuller Community Hospital The network’s fundamental characteristics and components- The Patton-Fuller Community Hospital is serving the public and they have the responsibility of providing good service and protecting each patient’s rights. The Health Insurance Portability and Accountability Act (HIPAA) outlines the principles and requirements that the hospital must use to ensure they are protecting patient’s rights. In the Patton-Fuller Community Hospital there are a large amount of Protected Hospital Information that needs to remain protected to meet the standards that HIPAA defines. The network is a 1000BASE-T, which supplies 1Gigabit of Ethernet connectivity over 5 cables (CAT5). This long-haul, copper-based standard is ideally suited for use within the data center because which is used in all the clinical areas of the hospital such as Emergency rooms ,Operating rooms, Pharmacy, Labs, doctor’s offices, Wards, Outpatient examining rooms, and Intensive Care Units (ICU’s) but the throughput of copper wire connections leaves room for improvement. The Administrative sections of the hospital such as IT Department, Admitting/Discharge, Facilities, Human Resources (HR), Finances, and Hospital Senior Management are using 1000BASE-T network structure. “The backbone network structure for the entire hospital is 1000BASE-T. Individual sections of departmental networks such as Radiology use different standards such as 1000 Base. ” Patton-Fuller Community Hospitals...
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...Financial Data Analysis Patton-Fuller Community Hospital is a for-profit hospital that is owned by the physicians who currently works at the facility. Patton-Fuller was established in 1975 and has since provided innovative care to the surrounding communities of Kelsey. The key to this hospital's success is quality patient care and as shareholders their mission was to provide the best care to their patients (University of Phoenix, 2014). Patton-Fuller Community Hospital has been doing so well they were able to expand to an 600-bed, full-service facility. The hospital is directed by 14 board members, which consist of 12 physicians, the Chief Executive Officer and the Chief Financial Officer (University of Phoenix, 2014). The physicians are the only board members allowed to make any votes. Physicians would only serve 3-year terms, and four new members would come aboard every year in December during the annual shareholder meeting (University of Phoenix, 2014). Additional to the annual shareholder meeting, profits are dispersed to the physicians. Patton-Fuller Community Hospital made 80% of their revenue through inpatient services, which includes surgery, medical-surgical nursing, and intensive care unit. As 20% of their revenue made through outpatient services, the emergency department and other outpatient services (University of Phoenix, 2014). In the review of the financial statements, many events have occurred between the years of 2008-2009. Davis Geach, Chief Executive...
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...Patton-Fuller Community Hospital Risk Assessment & Security Audit Patton-Fuller Community Hospital Risk Assessment & Security Audit Risk assessment and threat assessment should go hand-in-hand.The outcome of the risk assessment and threat assessment should provide recommendations that maximize the protection of confidentiality, integrity and availability while still providing functionality and usability. The purpose of a risk assessment is to ensure sensitive data and valuable assets are protected. An organization should take a hard look at who has access to sensitive data and if those accesses are required. The security audit should monitor the companies systems and users to detect illicit activity.The security audit should include searches for security events and the abuse of user privileges, along with a review of directory permissions, payroll controls, accounting system configurations, ensure backup software is configured, and backups are completed as required, review network shares for sensitive information with wide-open permissions. During the security audit, a report of offices should be conducted to ensure security policies and procedures are followed. Security Management Currently, PFCH has a Chief Compliance Officer in place to ensure the hospital meets all laws and regulations regarding patient privacy. The CCO is responsible for developing, implementing, and maintaining a system-wide Corporate Compliance program. The COO also oversees the Security...
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