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Essay / Research Paper Abstract
4 pages in length. Financial statements represent the fundamental feasibility of a hospital by providing a critical glimpse into the way in which that particular health care facility manages its various departments. The extent to which a hospital's overall operating prowess is wrapped up in its financial statements is both grand and far-reaching; that these reports offer insight to how various business decisions are made speaks to any future financial viability the facility may have. Bibliography lists 3 sources.
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4 pages (~225 words per page)
File: LM1_TLCFinanStmt.rtf
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extent to which a hospitals overall operating prowess is wrapped up in its financial statements is both grand and far-reaching; that these reports offer insight to how various business decisions
are made speaks to any future financial viability the facility may have. Hospitals - as with any other organizational entity - faces ongoing competitive factors that create challenges where funding
is concerned; a health care facility is only as good as its financial support allows; if a given hospital is not deemed an appropriate risk because its financial statements reflect
otherwise, this outcome serves to restrain the facilitys ability to upgrade and stay abreast with contemporary improvements. Maintaining ones competitive edge while immersed within the health care industry not
only takes substance and endurance but also an inherent ability to see beyond tomorrow. Establishing a hospitals firm grip upon the many variables that are associated with competitiveness is
indeed a challenge that most encounter with a mixture of eagerness and anticipation. It is not always an easy venture to continue such a position given the consideration of
respective infrastructure and labor costs, product barriers, as well as monetary fluctuations, which is why financial statements reflect the most significant indicator of having done so. Performance measures in
general help to provide a composite of the respective hospitals financial viability, however, nothing speaks as loudly as financial statements when the health care facility seeks to improve its service.
Four critical components of viability offered by these reports include: 1. A measure of short-term profitability (the prior years total profit margin); 2. Liquidity [(current assets--current liabilities)/total
revenues)]; 3. Leverage (total assets/total liabilities); and 4. Coverage (net income/issue size) (Loubeau et al, 2005). Loubeau et al (2005)
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