Trident University International Health & Medical Presentation

Trident University International Health & Medical Presentation

Trident University International Health & Medical Presentation

1 Bezos Community Medical Center Student’s Name University Course Name Instructor’s Name Due Date 2 Bezos Community Medical Center Part A: Community Benefit Spending Bezos Community Medical Center will partner with 28 medical facilities in the U.S. Arizona state to boost the provision of healthcare services to Medicare patients. Senior citizens and young people with disabilities sometimes experience numerous challenges when seeking healthcare services. Some of the patients who receive fully funded part A coverage cannot afford premiums for part B medicare coverage (Hemberg & Salmela, 2021). Moreover, most facilities offering medicare services to patients fail to provide preliminary information regarding healthcare services that are crucial to the patients. Cost and literacy interplay in limiting healthcare service provision to seniors in the U.S. Bezos Community Medical Center will provide educational guidance to all medicare beneficiaries to enable them to make informed decisions regarding effective policy choices. The program will cost the firm approximately $ 5,100 per annum for the first two years. According to Hemberg & Salmela (2021), even though 10,000 people attain the age of 65 daily in the U.S., healthcare literacy has continued to downplay the government’s ability to offer efficient services to the population. Furthermore, the cost of Medicare has increased tremendously, denying underprivileged members access to such an essential service. Apart from part A, which the government fully funds, parts B and part C have proved costly for low-income individuals in the U.S. Bezos Community Medical Center will, therefore, identify the lowincome individuals within Arizona and offer substantial premium payments to ensure they continue achieving their healthcare goals effectively. The firm anticipates spending $ 15 per individual who will qualify for this subsidy program. Since Bezos will offer direct inpatient 3 services to customers, it will partner with the government to leverage the existing medicare service in ensuring quality healthcare services. The medical center will employ highly qualified staff to cater to the diverse medical needs of the seniors. Medical services will be available at subsidized rates of $ 8 per person per service to ensure low-income seniors and young people living with disabilities comfortably afford the rates. Part B Balance Sheet BEZOS COMMUNITY MEDICAL CENTER BALANCE SHEET AS AT 31-DEC 2023 AND 31-DEC 2024 2023 2024 current assets Cash $150 $150 temporary investments 50 75 Inventory 33 48 prepaid expenses 12 15 total current assets $ 245 $ 288 $ 7000 $ 9000 non-current assets property, plant, and equipment less; accumulated depreciation -700 -1600 net PPE 6300 7400 longterm investments 500 700 total non-current assets $ 6800 $ 8100 4 total assets $ 7045 $ 8388 $ 180 $ 201 Liabilities and Net Assets current liabilities Accounts payables notes payables 25 20 accrued expenses payables 10 18 deferred revenues 123 120 current portion of the debt 160 140 total current liabilities $ 398 $ 499 portion $ 3500 $ 3400 total liabilities $ 3898 $ 3899 $ 2800 $ 4100 Long term liabilities long-term debt net of the current NET ASSETS unrestricted net assets temporary restricted net assets 200 250 permanently restricted net assets 147 139 total net assets 3147 4489 total liabilities and net assets $ 7045 $ 8388 The above shows a balance sheet for Bezos Community Medical Center, a non-profit organization that aims at providing quality healthcare services to medicare clients in Arizona. The balance sheet contains the firm’s current and non-current assets, liabilities, and net assets. 5 The firm’s non-current assets represent those available for use over one year. Property, plant, and equipment are in the balance sheet for both years. The firm will provide for depreciation at 10% per annum on a straight-line basis. The current assets section contains those assets available for use within one year. The assets include healthcare inventory for general use within the facility, cash assets of the firm, prepaid expenses, and short-term investments in marketable securities (Welc, 2022). The firm is projected to have $ 245 worth of current assets in 2023, which will increase to $ 288 in 2024 as operations increase. The firm will use long-term liabilities such as debt capital to finance its operations. Such obligations are payable after a period exceeding one year. However, the firm will seek short-term debts recorded as accounts payables for short-term daily expenses. Part C Statement of Operations Bezos Community Medical Center Statement of Operations For the years ending 31-dec 2023 and 2024 Revenues 2023 2024 Gross patient services revenue ( non-GAAP) $ 10,500 $ 14, 200 Provision for contractual adjustment ( non-GAAP) ( 5200) (6400) Provision for Charity care (non-GAAP) (340) (360) Net patients services revenue 4960 7,440 Provision for bad debt allowance (400) (560) Net patients services revenue $ 4560 $ 6880 Premium revenue 400 600 6 Other revenues 180 180 Total operating revenue $ 5140 $ 7740 Salaries wages and benefits 4220 4830 Supplies, drugs, and purchased services 3000 4560 Depreciation and amortization 700 900 Interest 102 104 Expenses Total operating expenses $ 8022 $ 9,390 Operating income ( 2882) (1650) 882 1000 Excess of revenue over expenses (2000) ($ 650) Unrestricted net assets 2800 4100 Temporarily restricted net assets 200 250 Permanently restricted net assets 147 139 CHANGES IN NET ASSETS 3147 4489 Non-operating income Investment income Operating margin= operating income/revenue*100 2023 2882/5140*100= -56.07% 2024 1650/7740*100= -21.31% The operating margin for the first two years of operation will be negative. It shows that the non-profit entity will have more expenses than revenues. For most non-profit entities, the 7 operating margin for the first few years is likely to be negative since such firms entirely depend on donations to provide services and to meet their objectives (Hall & Millo, 2018). However, the negative operating margin shows that the management could be more effective in utilizing the available sources of revenue to provide healthcare services. Management’s objective should be to minimize expenses and maximize the sources of revenue to the point that the firm has excess revenue over expenses. The firm’s operating margin will change to positive after a few years of operation, indicating that it has started having excess revenue over expenses. This will be attained through a robust cost reduction mechanism and an attempt to increase the revenue sources. Part 4 Strategic Planning, Operational Planning, and Budgeting In the case of strategic planning, the company has developed a mission statement that the executive has validated. The firm’s mission is to provide low-income individuals with affordable healthcare services. The executive validated the mission statement, and it has stayed the same since its inception. The firm will maintain the mission statement as a guiding principle to achieving its objectives. Moreover, the firm will conduct a SWOT and PESTEL analysis to determine its position regarding the internal and external environment and then make necessary changes to achieve its success in the healthcare sector. Our organization will develop various objectives in operational planning to govern the departments operating towards a common goal. The most fundamental aspect of our objectives formulation will be people-centered. Employees will be part of the organizational objectives that will be formulated. Bezos will have human resource management, finance, nursing, and welfare departments. Each department will set up objectives, and the management will evaluate their 8 performance annually against their objectives. The executive team will develop policies that align with the healthcare sector and communicate the policies and procedures to all workers for clarity. In budgeting, the firm has its finance department tasked with developing budgets. The budgeting committee created production units and production volume estimates for the first two years based on the number of patients who could seek healthcare services at the facility and presented it to various department managers for validation. The prediction was from evaluating similar non-profit organizations in the healthcare sector within Arizona. The department managers then use estimates to generate revenue figures using the price-the-ed costing technique. In the technique above, the head of the finance department developed revenue figures based on the number of expected patients and the prices for the healthcare services. Lastly, they converted revenues into expense requirements by allocating wage rates to the predicted labor hours to identify total expenses. Similarly, they allocated other expenses based on the expected number of patients and the unit overhead costs. After the process, the budgeting committee developed a compressive report of revenues and expenses for the first two years. The same procedure will be repeated annually. Recommendations and Conclusions Bezos Community Medical Center is determined to provide quality healthcare services to people within Arizona. It has developed a vibrant working framework to ensure it acquires resources to provide healthcare services. One of the targeted objectives of the firm is to educate medicare clients about the nature of the prevailing healthcare services for informed decisionmaking. The objective is necessary since many people have failed to reap maximally from their medicare packages due to the information gap. Furthermore, the firm intends to subsidize 9 healthcare services and ensure low-income individuals enjoy the services equally. The move will benefit many seniors and young individuals within Arizona who cannot afford part B and C Medicare packages. However, the firm should expand its revenue base by inviting numerous charitable organizations to offer donations so that it raises enough finances to meet its objectives. 10 References Hall, M., & Millo, Y. (2018). Choosing an accounting method to explain public policy: Social return on investment and U.K. non-profit sector policy. European Accounting Review, 27(2), 339-361. Hemberg, J., & Salmela, S. (2021). Integrity and Efficiency in Nursing Leadership: An Integrative Review. International Journal of Caring Sciences, 14(2), 1496. Welc, J. (2022). Financial statement analysis. In Evaluating Corporate Financial Performance (pp. 131–212). Palgrave Macmillan, Cham.

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