Submitted by: Submitted by mhautzinger
Views: 546
Words: 618
Pages: 3
Category: Philosophy and Psychology
Date Submitted: 06/23/2012 05:18 PM
DISCUSSION QUESTION 1
What are the largest expense categories incurred by healthcare service organizations?
In my mind what I see as the biggest expense for medical facilities would be equipment and personnel. A medical facility can not operate without the personnel to make it work. The personnel is usually paid a decent amount of money because of all their training and in some cases a medical doctor or nurse has significant loans to pay back so they aren't going to work for very little money. They have to be able to not only pay back all school related expenses but also be able to afford to live and such. Equipment also can cost in the tens of thousands of dollars to over a million to buy the equipment, depending on the equipment. Then there is the training for the personnel operating it, the maintenance on the equipment and anything else having to do with each specific piece. A medical facility has costs no matter what it is they do. Overhead, which includes the operating of the building, the salaries of the personnel in the building and anything that has to do with that. Then there is keeping up with everything going on around them. Medical services are ever changing and medical facilities have to change with it to keep up with the times and in some cases keep the patients. A patient who can not get treatment for one thing one place and goes to another facility and can get the treatment they need plus any possible other treatments are not going to go back to the first place.
DISCUSSION QUESTION 2
What are the titles and functions of the four financial statements usually included in an audited financial report?
The four financial statements usually included in an audited financial report include the balance sheet, statement of cash flow, statement of fund balance/net worth, and the statement of revenue and expense.
The balance sheet is a “snapshot” of an organizations financial condition at any moment in time, generally the end of an...