Posted: September 13th, 2017

Final Economics and Financial Management in Health Sciences

Final Economics and Financial Management in Health Sciences

Order Description

Guidelines for Assessment 4
Your financial statement analysis should be no more than 3000 words in length and 2 pages of figures, graphs, and/or tables as an appendix. Please use 2.5 cm margins,

1.5 line spacing, and 12-point Times New Roman. Include the name of the topic on the top of the first page. Report your name, the date, and the course number on the

first page after the topic title and assignment type and number. Rubric # 4: Final Project (see the course assessment document) will be used to evaluate your reports.

Total marks will be 20 and the weight will be 20%. Your report should have the following sections:

Introduction of the case and brief statement of response (this section can be called Introduction, or can be unlabelled). The purpose of this short section is similar

to that of an abstract on a journal article – it is a very brief summary.
Background. This section reviews the key issues raised in the case and any literature reviewed. Be sure to appropriately document the use of sources, including web

sites. Use a consistent format for citations based on the APA style.
Analysis. This section shows what you did to respond to 5 (five) case questions. Be creative! It may include tables, graphs, or figures. These can be on the same page

or at the end of the report as an appendix; just be sure to clearly label everything. The analysis may be quantitative or may include some discussion of subjective

factors.
Recommendation. This section gives your recommendation to adequately address the key issues raised in the case. This should repeat what was said briefly at the

beginning, but here you will give more details and include limitations of your recommendations.
References. You are asked to use the APA style of referencing for this assignment.

312EFM301-Economics & Financial Management in Health Sciences
Dr. Fevzi Akinci
Fall 2014

Assessment 4-Final Project (Financial Statement Analysis)

You are asked to analyze the following case study in your final project.  This assignment is due on Wednesday, January 14, 2015 at 7:00 pm.  Refer to the course

assessment document and the handout that I posted on the VLE (i.e., Guidelines for Assessment 4) for the format of your report and page and typeface restrictions.

CASE STUDY
RIVERVIEW COMMUNITY HOSPITAL
ASSESSING HOSPITAL PERFORMANCE

Riverview Community Hospital is a 210-bed, not-for-profit, acute care hospital with a long-standing reputation for providing quality healthcare services to a growing

service area.  Riverview competes with three other hospitals in its metropolitan statistical area (MSA) – two not-for-profit and one for-profit.  It is the smallest of

the four but has traditionally been ranked highest in patient satisfaction polls.
Hospitals are accredited by the Joint Commission, an independent not-for-profit organization whose mission is to improve the safety and quality of healthcare

provided to the public through accreditation and related services. (For more information on the Joint Commission, visit their website at www.jointcommission.org.)

Although accreditation is optional for hospitals, it is generally required to qualify for governmental (Medicare and Medicaid) reimbursement, and hence the vast

majority of hospitals apply for accreditation.  Riverview passed its latest Joint Commission accreditation with “flying colors” receiving full ac-
creditation, the highest of the accreditation categories.
In recent years, competition among the four hospitals in Riverview’s service area has been keen but friendly.  However, a large for-profit chain recently

purchased the for-profit hospital, which has resulted in some anxiety among the managers of the other three hospitals because of the chain’s reputation for

aggressively increasing market share in the
markets they serve.
Relevant financial and operating data for Riverview are contained in Exhibits 1.1 through 1.4, and selected industry data are contained in Exhibits 1.5 and

1.6. (Note that the industry data given in the case are for illustrative purposes only and do not represent actual data for the years specified. For a better idea of

the type of comparative data actually available for hospitals, see
the Ingenix website at www.hospital benchmarks.com.)

Assume that you have just joined the staff of Riverview Community Hospital as a special
assistant to the CEO.  On your first day on the job, the CEO Melissa Randolph, stated that
the best way to get to know the financial condition of the hospital is to conduct a thorough financial statement analysis; thus she assigned you the task.  Although

you also believe that this is a good way to get started, you wonder whether Melissa has any ulterior motives.  Perhaps the hospital is having problems and she thinks

that you can spot them or perhaps she wants to test your analytical skills.  Melissa is from the “ old school” of hospital management and has been looking for someone

to bring modern management methods to the hospital.
In any event, she has already scheduled a financial performance analysis presentation at the next board of trustees meeting as a way for you to meet the board

members.  To help you structure your presentation, Melissa suggested that you make the following points;
1.    Briefly interpret three key financial statements for Riverview Community Hospital.
2.    Present an overview of the hospital’s financial position using the Du Pont equation as a guide.
3.    Use ratio analysis to identify the hospital’s specific financial strengths and weaknesses.  But, she warned, the board is not going to appreciate a lengthy

dialogue with too many individual ratios.  Focus on key findings and one or two ratios per category—don’t put them to sleep!  Also, use graphs or other techniques to

summarize the data.
4.    Summarize your evaluation of the hospital’s financial condition.  However, don’t just rehash the numbers; rather, present your views on the potential

underlying economic and managerial factors that might have caused any problems that surfaced in the financial and operating analysis.
5.    Make any recommendations that you believe the hospital should follow to ensure future financial soundness.

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