You are a consultant to Phoebe Putney Hospital in Southern Georgia. You have the financial reports along with some additional data that you are reviewing in order to provide some recommendations for the hospital moving forward. As part of your analysis, you will be comparing the performance of Phoebe Putney to the median results as published by Becker’s Hospital Review (Becker's CFO Report).
As part of your report, you are to complete the following:
Calculate the following financial ratio calculations for 2015 and 2016: (4 points each)Current Ratio
Accounts Receivable Turnover (DAR)
Days Cash on Hand (subtract depreciation and amortization from operating expenses to get cash operating expenses)
Payment Turnover--current liabilities ÷ (total operating expenses/365)
In addition you are to calculate the following:
Net income(loss) per patient day for 2016 (Remember that the monetary figures are listed in thousands, but the patient days are actual) (4)
Total Discharges: 17,730
Total Patient Days: 101,142
Percentage of net patient revenue for 2016 for (2 points each)
Medicare and Medicaid (combined)
Third party payors
Self pay patients
Once you have performed the calculations you are to comment on the findings. Include in your response the answers to the following (you are not limited to these, they are just to get you started): (100 points)
Is there a downward or upward trend from one year to the next based on your calculations? Why did that happen?
How do they compare to the industry overall?
How does their payer mix compare to the national mix as provided in Week 2 supplemental materials (The Healthcare Dollar—Where It Came From).
Provide 3-4 recommendations that you will make for the administration of Phoebe Putney moving forward. Make sure that those recommendations are realistic and viable.
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