Healthcare Finance and Accounting Assignment | Essay Help Services

HE420 Healthcare Finance and Accounting
Directions: Be sure to save an electronic copy of your answer before submitting it for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English, spelling, and grammar. Sources must be cited in APA format. Refer to the “Format Requirementsʺ page for specific format requirements.

Refer to the Metropolis Health System (MHS) case study in Chapter 28.

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Set up a worksheet for the liquidity ratios.

Compute the four liquidity ratios using the Chapter 28 MHS financial statementsCHAPTER 28 Case Study: Metropolis
Health System
BACKGROUND
• 1. The Hospital System Metropolis Health System (MHS)
offers comprehensive healthcare services. It is a midsize taxing
district hospital. Although MHS has the power to raise revenues
through taxes, it has not done so for the past seven years.
• 2. The Area MHS is located in the town of Metropolis, which
has a population of 50,000. The town has a small college and a
modest number of environmentally clean industries.
• 3. MHS Services MHS has taken significant steps to
reduce hospital stays. It has developed a comprehensive array
of services that are accessible, cost-effective, and responsive to
the community’s needs. These services are wellness oriented in
that they strive for prevention rather than treatment. As a result
of these steps, inpatient visits have increased overall by only
1,000 per year since 2008, whereas outpatient/same-day
surgery visits have had an increase of over 50,000 per year.
A number of programmatic, service, and facility enhancements
support this major transition in the community’s institutional
health care. They are geared to provide the quality, convenience,
affordability, and personal care that best suit the health needs of
the people whom MHS serves.
• • Rehabilitation and Wellness Center—for outpatient
physical therapy and return-to-work services, plus cardiac
and pulmonary rehabilitation, to get people back to a
normal way of living.
• • Home Health Services—bringing skilled care,
therapy, and medical social services into the home; a
comfortable and affordable alternative in longer-term care.
• • Same-Day Surgery (SDS)—eliminating the need for
an overnight stay. Since 1998, same-day surgery
procedures have doubled at MHS.
• • Skilled Nursing Facility—inpatient service to assist
patients in returning more fully to an independent lifestyle.
• • Community Health and Wellness—community health
outreach programs that provide educational seminars on a
variety of health issues, a diabetes education center,
support services for patients with cancer, health awareness
events, and a women’s health resource center.
• • Occupational Health Services—helping to reduce
workplace injury costs at over 100 area businesses through
consultation on injury avoidance and work-specific
rehabilitation services.
• • Recovery Services—offering mental health services,
including substance abuse programs and support groups,
along with individual and family counseling.

• 4. MHS’s Plant The central building for the hospital is in the
center of a two-square-block area. A physicians’ office building is
to the west. Two administrative offices, converted from former
residences, are on one corner. The new ambulatory center,
completed two years ago, has an L shape and sits on one corner
of the western block. A laundry and maintenance building sits on
the extreme back of the property. A four-story parking garage is
located on the eastern back corner. An employee parking lot sits
beside the laundry and maintenance building. Visitor parking lots
fill the front eastern portion of the property. A helipad is on the
extreme western edge of the property behind the physicians’
office building.
• 5. MHS Board of Trustees Eight local community leaders
who bring diverse skills to the board govern MHS. The trustees
generously volunteer their time to plan the strategic direction of
MHS, thus ensuring the system’s ability to provide quality
comprehensive health care to the community.
• 6. MHS Management A chief executive officer manages
MHS. Seven senior vice presidents report to the CEO. MHS is
organized into 23 major responsibility centers.
• 7. MHS Employees All 500 team members employed by
MHS are integral to achieving the high standards for which the
system strives. The quality improvement program, reviewed and
reestablished in 2010, is aimed at meeting client needs sooner,
better, and more cost-effectively. Participants in the program are
from all areas of the system.
• 8. MHS Physicians The MHS medical staff is a key part of
MHS’s ability to provide excellence in health care. Over 75
physicians cover more than 30 medical specialties. The high
quality of their training and their commitment to the practice of
medicine are great assets to the health of the community.
The physicians are very much a part of MHS’s drive for continual
improvement on the quality of healthcare services offered in the
community. MHS brings in medical experts from around the
country to provide training in new techniques, made
possible by MHS’s technologic advancements. MHS also
ensures that physicians are offered seminars, symposiums, and
continuing education programs that permit them to remain
current with changes in the medical field.
The medical staff’s quality improvement program has begun a
care path initiative to track effective means for diagnosis,
treatment, and follow-up. This initiative will help avoid
unnecessary or duplicate use of expensive medications or
technologies.
• 9. MHS Foundation Metropolis Health Foundation is
presently being created to serve as the philanthropic arm of
MHS. It will operate in a separate corporation governed by a
board of 12 community leaders and supported by a 15-member
special events board. The mission of the foundation will be to
secure financial and nonfinancial support for realizing the MHS
vision of providing comprehensive health care for the community.
Funds donated by individuals, businesses, foundations, and
organizations will be designated for a variety of purposes at
MHS, including the operation of specific departments, community
outreach programs, continuing education for employees,
endowment, equipment, and capital improvements.
• 10. MHS Volunteer Auxiliary There are 500 volunteers who
provide over 60,000 hours of service to MHS each year. These
men and women assist in virtually every part of the system’s
operations. They also conduct community programs on behalf of
MHS.
The auxiliary funds its programs and makes financial
contributions to MHS through money it raises on renting
televisions and vending gifts and other items at the hospital. In
the past, its donations to MHS have generally been designated
for medical equipment purchases. The auxiliary has given
$250,000 over the last five years.
• 11. Planning the Future for MHS The MHS has identified
five areas of desired service and programmatic enhancement in
its five-year strategic plan:
• I. Ambulatory Services
• II. Physical Medicine and Rehabilitative Services
• III. Cardiovascular Services
• IV. Oncology Services
• V. Community Health Services

MHS has set out to answer the most critical health needs that
are specific to its community. Over the next five years, the MHS
strategic plan will continue a tradition of quality, communityoriented
health care to meet future demands.
• 12. Financing the Future MHS has established a corporate
depreciation fund. The fund’s purpose is to ease the financial
burden of replacing fixed assets. Presently, it has almost $2
million for needed equipment and renovations.
MHS CASE

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