3-4 page paper
Balance Sheets
| Stanford Health Care Consolidated Statements of Operations and Changes in Net Assets Years Ending August 31, 2015, 2016, 2017, and 2018 | |||||||||||||||||
| Common Size Balance Sheets Years Ending August 31, 2015, 2016, 2017, and 2018 | |||||||||||||||||
| Assets | % of Change between 2018 & 2017 | 2018 ($) | % of Change between 2017 & 2016 | 2017 ($) | % of Change between 2016 & 2015 | 2016 ($) | 2015 ($) | 2018 (%) | 2017 (%) | 2016 (%) | 2015 (%) | ||||||
| Current assets: | |||||||||||||||||
| Cash and cash equivalents | -8% | 652,256 | 3% | 710,109 | 45% | 690,460 | 475,677 | 9.0% | 11.4% | 12.0% | 8.6% | ||||||
| Short term investments | 68% | 391,314 | 125% | 233,533 | 2% | 103,627 | 101,677 | 5.4% | 3.7% | 1.8% | 1.8% | ||||||
| Patient accounts receivable, net of allowance for doubtful accounts | 2% | 623,077 | 9% | 610,734 | 2% | 559,933 | 550,721 | 8.6% | 9.8% | 9.7% | 10.0% | ||||||
| Other receivables | 11% | 79,036 | -24% | 71,112 | 23% | 92,961 | 75,427 | 1.1% | 1.1% | 1.6% | 1.4% | ||||||
| Inventories | 4% | 58,884 | 13% | 56,559 | 16% | 50,016 | 42,935 | 0.8% | 0.9% | 0.9% | 0.8% | ||||||
| Prepaid expenses and other | 24% | 52,886 | 17% | 42,528 | 2% | 36,273 | 35,486 | 0.7% | 0.7% | 0.6% | 0.6% | ||||||
| Total current assets | 8% | 1,857,453 | 12% | 1,724,575 | 20% | 1,533,270 | 1,281,923 | 25.7% | 27.7% | 26.6% | 23.2% | ||||||
| Investments | 357% | 509,781 | -16% | 111,664 | 3% | 132,273 | 127,860 | 7.1% | 1.8% | 2.3% | 2.3% | ||||||
| Investments at equity | 22% | 80,989 | 66,255 | 1.1% | 1.1% | 0.0% | 0.0% | ||||||||||
| Investments in company managed pools | 9% | 1,400,839 | -2% | 1,287,193 | -9% | 1,316,489 | 1,440,352 | 19.4% | 20.7% | 22.9% | 26.1% | ||||||
| Assets limited as to use, held by trustee | -100% | -75% | 58,134 | -59% | 235,788 | 580,701 | 0.0% | 0.9% | 4.1% | 10.5% | |||||||
| Property and equipment, net | 14% | 3,279,048 | 19% | 2,869,346 | 25% | 2,401,880 | 1,923,465 | 45.4% | 46.1% | 41.7% | 34.9% | ||||||
| Other assets | -23% | 86,739 | -18% | 112,445 | -16% | 137,637 | 163,578 | 1.2% | 1.8% | 2.4% | 3.0% | ||||||
| Total assets | 16% | 7,214,849 | 8% | 6,229,612 | 4% | 5,757,337 | 5,517,879 | 100.0% | 100.0% | 100.0% | 100.0% | ||||||
| Liabalities and net assets | % of Change between 2018 & 2017 | 2018 | % of Change between 2018 & 2017 | 2017 | % of Change between 2018 & 2017 | 2016 | 2015 | 2018 | 2017 | 2016 | 2015 | ||||||
| Current liabilities: | |||||||||||||||||
| Accounts payable and accrued liabilities | 46% | 449,192 | -8% | 307,899 | 19.1% | 335,995 | 282,134 | 6.2% | 4.9% | 5.8% | 5.1% | ||||||
| Accrued salaries and related benefits | -18% | 209,490 | 8% | 255,759 | 16.7% | 236,819 | 202,859 | 2.9% | 4.1% | 4.1% | 3.7% | ||||||
| Due to related parties | 39% | 98,942 | 17% | 71,429 | 41.5% | 61,308 | 43,324 | 1.4% | 1.1% | 1.1% | 0.8% | ||||||
| Third-party payor settlements | 90% | 34,474 | -21% | 18,149 | 154.5% | 22,948 | 9,018 | 0.5% | 0.3% | 0.4% | 0.2% | ||||||
| Current portion of long-term debt | 9% | 14,505 | -3% | 13,335 | -1.3% | 13,756 | 13,932 | 0.2% | 0.2% | 0.2% | 0.3% | ||||||
| Revolving line of credit | -100% | ERROR:#DIV/0! | 135,000 | ERROR:#DIV/0! | 0.0% | 2.2% | 0.0% | 0.0% | |||||||||
| Debt subject to short-term remarketing arrangements | 0% | 228,200 | 0% | 228,200 | 0.0% | 228,200 | 228,200 | 3.2% | 3.7% | 4.0% | 4.1% | ||||||
| Self-insurance reserves and other | 20% | 54,933 | 6% | 45,854 | 23.8% | 43,232 | 34,918 | 0.8% | 0.7% | 0.8% | 0.6% | ||||||
| Total current liabilities | 1% | 1,089,736 | 14% | 1,075,625 | 15.7% | 942,258 | 814,385 | 15.1% | 17.3% | 16.4% | 14.8% | ||||||
| Self-insurance reserves and others, net of current portion | 7% | 139,841 | 10% | 130,816 | -1.1% | 118,994 | 120,364 | 1.9% | 2.1% | 2.1% | 2.2% | ||||||
| Swap liability | -26% | 182,527 | ERROR:#DIV/0! | 245,966 | ERROR:#DIV/0! | 2.5% | 3.9% | 0.0% | 0.0% | ||||||||
| Other long-term liabilities | 292% | 122,944 | -91% | 31,363 | 51.4% | 355,683 | 234,855 | 1.7% | 0.5% | 6.2% | 4.3% | ||||||
| Pension liability | -87% | 6,650 | -21% | 51,745 | 27.8% | 65,463 | 51,220 | 0.1% | 0.8% | 1.1% | 0.9% | ||||||
| Long-term debt, net of current portion | 44% | 1,711,967 | -3% | 1,189,529 | -1.3% | 1,220,789 | 1,237,347 | 23.7% | 19.1% | 21.2% | 22.4% | ||||||
| Total liabilities | 19% | 3,253,665 | 1% | 2,725,044 | 10.0% | 2,703,187 | 2,458,171 | 45.1% | 43.7% | 47.0% | 44.5% | ||||||
| Net assets: | |||||||||||||||||
| Unrestricted: | |||||||||||||||||
| Stanford Health Care | 14% | 3,285,398 | 17% | 2,871,113 | -0.7% | 2,449,037 | 2,467,393 | 45.5% | 46.1% | 42.5% | 44.7% | ||||||
| Nonconrolling interests | -15% | 18,727 | 10% | 22,060 | -12.4% | 20,133 | 22,979 | 0.3% | 0.4% | 0.3% | 0.4% | ||||||
| Total unrestricted | 14% | 3,304,125 | 17% | 2,893,173 | -0.9% | 2,469,170 | 2,490,372 | 45.8% | 46.4% | 42.9% | 45.1% | ||||||
| Temporarily restricted | 8% | 648,826 | 5% | 603,251 | 2.7% | 577,086 | 561,642 | 9.0% | 9.7% | 10.0% | 10.2% | ||||||
| Permanently restricted | 1% | 8,233 | 3% | 8,144 | 2.6% | 7,894 | 7,694 | 0.1% | 0.1% | 0.1% | 0.1% | ||||||
| Total net assets | 13% | 3,961,184 | 15% | 3,504,568 | -0.2% | 3,054,150 | 3,059,708 | 54.9% | 56.3% | 53.0% | 55.5% | ||||||
| Total liabilities and net assets | 16% | 7,214,849 | 8% | 6,229,612 | 4.3% | 5,757,337 | 5,517,879 | 100.0% | 100.0% | 100.0% | 100.0% | ||||||
| Using the Northern College Health Services visit volume in Appendix 6-1 on page 113 of the textbook, for this assignment, you will be providing a forecast of the number of clinic visits for November 2008 using the average change, confidence interval, average percent change, moving averages, and exponential smoothing forecasting methods. Use the Internet or Strayer Library to research at least two (2) examples of the forecasting methods being used in health services organizations. | |||||||||||||||||
| Write a two to three (2-3) page paper in which you: | |||||||||||||||||
| 1. Explain each step in the forecasting process for each method. | |||||||||||||||||
| 2. Provide a brief summary of your researched health services organizations implementing the forecasting methods. | |||||||||||||||||
| 3. Provide a forecast of the number of clinic visits for November 2008 using each method of the forecasting process. | |||||||||||||||||
| 4. Conclude which forecasting method provides the best forecast, and provide a rationale for your conclusion. | |||||||||||||||||
| Your assignment must follow these formatting requirements: | |||||||||||||||||
| Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. | |||||||||||||||||
| Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. | |||||||||||||||||
| The specific course learning outcomes associated with this assignment are: | |||||||||||||||||
| Evaluate forecasting strategies and methods. | |||||||||||||||||
| Use technology and information resources to research issues in quantitative methods for health services. | |||||||||||||||||
| Write clearly and concisely about quantitative methods for health services using proper writing mechanics. |
Income Statements
| Stanford Health Care Consolidated Statements of Operations and Changes in Net Assets Years Ending August 31, 2015, 2016, 2017, and 2018 | |||||||||||||||||
| Common Size Income Statements Years Ending August 31, 2015, 2016, 2017, and 2018 | |||||||||||||||||
| % of Change between 2018 & 2017 | 2018 ($) | % of Change between 2017 & 2016 | 2017 ($) | % of Change between 2016 & 2015 | 2016 ($) | 2015 ($) | 2018 (%) | 2017 (%) | 2016 (%) | 2015 (%) | |||||||
| Operating revenues: | |||||||||||||||||
| Net patient service revenue | 10% | 4,735,366.00 | 7% | 4,311,530.00 | 14% | 4,019,285.00 | 3,525,014.00 | 96.4% | 97% | 98% | 99% | ||||||
| Provision for doubtful accounts | -25% | (57,437.00) | -39% | (77,004.00) | -4% | (126,280.00) | (131,601.00) | -1.2% | -2% | -3% | -4% | ||||||
| Net patient service revenue less provision for doubtful accounts | 10% | 4,677,929.00 | 9% | 4,234,526.00 | 15% | 3,893,005.00 | 3,393,413.00 | 95.3% | 95% | 95% | 95% | ||||||
| Premium revenue | 15% | 92,654.00 | 12% | 80,647.00 | 15% | 72,292.00 | 62,893.00 | 1.9% | 2% | 2% | 2% | ||||||
| Other revenue | 5% | 135,597.00 | 5% | 129,324.00 | 25% | 122,996.00 | 98,718.00 | 2.8% | 3% | 3% | 3% | ||||||
| Net assets released from restrictions used for operations | -56% | 4,366.00 | 6% | 9,904.00 | -40% | 9,372.00 | 15,663.00 | 0.1% | 0% | 0% | 0% | ||||||
| Total operating revenues | 10% | 4,910,546.00 | 9% | 4,454,401.00 | 15% | 4,097,665.00 | 3,570,687.00 | 100.0% | 100% | 100% | 100% | ||||||
| ERROR:#DIV/0! | ERROR:#DIV/0! | ERROR:#DIV/0! | |||||||||||||||
| Operating expenses: | ERROR:#DIV/0! | ERROR:#DIV/0! | ERROR:#DIV/0! | ||||||||||||||
| Salaries and benefits | 5.3% | 2,091,260.00 | 7.4% | 1,986,360.00 | 29.6% | 1,850,124.00 | 1,428,100.00 | 42.6% | 45% | 45% | 40% | ||||||
| Professioanl services | 7.7% | 46,146.00 | -14.0% | 42,851.00 | 4.3% | 49,846.00 | 47,801.00 | 0.9% | 1% | 1% | 1% | ||||||
| Supplies | 13.9% | 667,379.00 | 10.3% | 586,056.00 | 9.7% | 531,130.00 | 484,036.00 | 13.6% | 13% | 13% | 14% | ||||||
| Purchased services | 7.1% | 1,216,992.00 | 7.4% | 1,136,020.00 | 15.9% | 1,058,182.00 | 912,886.00 | 24.8% | 26% | 26% | 26% | ||||||
| Depreciation and amortization | 14.3% | 176,742.00 | 13.4% | 154,686.00 | 24.3% | 136,442.00 | 109,735.00 | 3.6% | 3% | 3% | 3% | ||||||
| Interest | -18.8% | 35,434.00 | 10.0% | 43,643.00 | -2.0% | 39,661.00 | 40,485.00 | 0.7% | 1% | 1% | 1% | ||||||
| Other | 24.3% | 477,661.00 | -1.2% | 384,354.00 | 8.3% | 389,199.00 | 359,368.00 | 9.7% | 9% | 9% | 10% | ||||||
| Expense recoveries from related parties | 7.3% | (121,727.00) | 8.1% | (113,451.00) | 12.1% | (104,965.00) | (93,640.00) | -2.5% | -3% | -3% | -3% | ||||||
| Total operating expenses | 8.8% | 4,589,887.00 | 6.9% | 4,220,519.00 | 20.1% | 3,949,619.00 | 3,288,771.00 | 93.5% | 95% | 96% | 92% | ||||||
| Income from operations | 37.1% | 320,659.00 | 58.0% | 233,882.00 | -47.5% | 148,046.00 | 281,916.00 | 6.5% | 5% | 4% | 8% | ||||||
| Interest and investment income | 103.1% | 31,122.00 | 12.4% | 15,325.00 | -13.0% | 13,635.00 | 15,680.00 | 0.6% | 0% | 0% | 0% | ||||||
| Earnings on equity method investments | 37.8% | 7,048.00 | ERROR:#DIV/0! | 5,114.00 | ERROR:#DIV/0! | 0.1% | 0% | ||||||||||
| Increase in value of company managed pools | -23.4% | 110,984.00 | 498.9% | 144,829.00 | -55.5% | 24,181.00 | 54,309.00 | 2.3% | 3% | 1% | 2% | ||||||
| Interest rate swaps mark to market adjustments | ERROR:#DIV/0! | -100.0% | 95.2% | (115,958.00) | (59,392.00) | -3% | -2% | ||||||||||
| Swap interest and change in value of swap agreements | -43.7% | 48,043.00 | ERROR:#DIV/0! | 85,368.00 | ERROR:#DIV/0! | 1.0% | 2% | ||||||||||
| Loss on extinguishment of debt | ERROR:#DIV/0! | (47,613.00) | ERROR:#DIV/0! | -100.0% | (35.00) | -1.0% | -0% | ||||||||||
| Contribution income from Stanford Health Care-ValleyCare affiliation | ERROR:#DIV/0! | ERROR:#DIV/0! | -100.0% | 96,758.00 | 3% | ||||||||||||
| Excess of revenues over expenses | -2.9% | 470,243.00 | 593.1% | 484,518.00 | -82.0% | 69,904.00 | 389,236.00 | 9.6% | 11% | 2% | 11% | ||||||
| Other change in unrestricted net assets: | ERROR:#DIV/0! | ERROR:#DIV/0! | ERROR:#DIV/0! | ||||||||||||||
| Tranfer to Stanford University, net | 41.5% | (98,183.00) | -22.0% | (69,376.00) | 33.8% | (88,944.00) | (66,477.00) | -2.0% | -2% | -2% | -2% | ||||||
| Transfer (to) from Lucile Salter Packard Children's Hospital | ERROR:#DIV/0! | 2,068.00 | -100.0% | -112.4% | (3,300.00) | 26,600.00 | 0.0% | -0% | 1% | ||||||||
| Change in net unrealized gains on investments | 792.1% | 9,438.00 | -15.0% | 1,058.00 | -150.9% | 1,245.00 | (2,445.00) | 0.2% | 0% | 0% | -0% | ||||||
| Net assets released from restrictions used for: | ERROR:#DIV/0! | ERROR:#DIV/0! | ERROR:#DIV/0! | ||||||||||||||
| Purchase of property and equipment | -76.6% | 309.00 | 35.7% | 1,320.00 | -57.5% | 973.00 | 2,288.00 | 0.0% | 0% | 0% | 0% | ||||||
| Change in pension and postretirement liability | 357.4% | 28,277.00 | -7827.5% | 6,182.00 | -99.6% | (80.00) | (19,461.00) | 0.6% | 0% | -0% | -1% | ||||||
| Noncontrolling capital distribution, net | -498.7% | (1,200.00) | -130.1% | 301.00 | 1512.9% | (1,000.00) | (62.00) | -0.0% | 0% | -0% | -0% | ||||||
| (Decrease) increase in unrestricted net assets | -3.1% | 410,952.00 | -2099.8% | 424,003.00 | -106.4% | (21,202.00) | 329,679.00 | 8.4% | 10% | -1% | 9% | ||||||
| Changes in temporary restricted net assets: | ERROR:#DIV/0! | ERROR:#DIV/0! | ERROR:#DIV/0! | ||||||||||||||
| Transfer from Stanford University | -20.8% | 2,177.00 | 3.9% | 2,748.00 | -34.9% | 2,645.00 | 4,062.00 | 0.0% | 0% | 0% | 0% | ||||||
| Contributions and other | 57.3% | 44,894.00 | 37.8% | 28,541.00 | -60.4% | 20,717.00 | 52,333.00 | 0.9% | 1% | 1% | 1% | ||||||
| Contribution income from Stanford Health Care-ValleyCare affiliation | ERROR:#DIV/0! | ERROR:#DIV/0! | -100.0% | 62.00 | 0% | ||||||||||||
| Investment income | -84.7% | 712.00 | 526.6% | 4,662.00 | -55.4% | 744.00 | 1,667.00 | 0.0% | 0% | 0% | 0% | ||||||
| Gains on company managed pools | 71.6% | 2,467.00 | -14.6% | 1,438.00 | -33.7% | 1,683.00 | 2,537.00 | 0.1% | 0% | 0% | 0% | ||||||
| Net assets released from restrictions used for: | ERROR:#DIV/0! | ERROR:#DIV/0! | ERROR:#DIV/0! | ||||||||||||||
| Operations | -55.9% | (4,366.00) | 5.7% | (9,904.00) | -40.2% | (9,372.00) | (15,663.00) | -0.1% | -0% | -0% | -0% | ||||||
| Purchase of property and equipment | -76.6% | (309.00) | 35.7% | (1,320.00) | -57.5% | (973.00) | (2,288.00) | -0.0% | -0% | -0% | -0% | ||||||
| Increase in temporary restricted net assets | 74.2% | 45,575.00 | 69.4% | 26,165.00 | -63.8% | 15,444.00 | 42,710.00 | 0.9% | 1% | 0% | 1% | ||||||
| Changes in permanently restricted net assets: | ERROR:#DIV/0! | ERROR:#DIV/0! | ERROR:#DIV/0! | ||||||||||||||
| Contributions | -64.4% | 89.00 | 25.0% | 250.00 | 9900.0% | 200.00 | 2.00 | 0.0% | 0% | 0% | 0% | ||||||
| Increase in permanently restricted net assets | -64.4% | 89.00 | 25.0% | 250.00 | 9900.0% | 200.00 | 2.00 | 0.0% | 0% | 0% | 0% | ||||||
| (Decrease) increase in net assets | 1.4% | 456,616.00 | -8204.0% | 450,418.00 | -101.5% | (5,558.00) | 372,391.00 | 9.3% | 10% | -0% | 10% | ||||||
| Net assets, beginning of year | 14.7% | 3,504,568.00 | -0.2% | 3,054,150.00 | 13.9% | 3,059,708.00 | 2,687,317.00 | 71.4% | 69% | 75% | 75% | ||||||
| Net assets, end of year | 13.0% | 3,961,184.00 | 14.7% | 3,504,568.00 | -0.2% | 3,054,150.00 | 3,059,708.00 | 80.7% | 79% | 75% | 86% | ||||||