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home / study / business / finance / questions and answers / ratio optum & cms median ratio hospital industry ...
Question: Ratio Optum & CMS Median Ratio Hospital Indu...
Ratio Optum & CMS Median Ratio Hospital Industry 1-99 beds 100-199 beds 200-299 beds 300-399 beds 400+ beds Desired position
Liquidity Ratios
Current ratio 2.11 2.18 2.04 1.88 1.71 1.84 Above
Quick ratio 1.52 1.65 1.39 1.27 1.42 1.5 Above
Acid test ratio 0.3 0.35 0.18 0.2 0.2 0.38 Above
Days in account rec. 49 47 45 44 48 44 Below
Days cash on hand 86 85 81 102 76 119 Above
Average pmt period, days 50 45 51 56 53 52 Below
Revenue, expense, and profitability ratios
Operating revenue per adjusted $7,448 $7,086 $6,407 $6,766 $7,121 $7,517 Above
Operating expense per adjusted $7,197 $6,494 $6,112 $6,260 $6,819 $7,399 Below
Salary and benefit expense as a percentage of operating expense 40% 40% 38% 38% 38% 38% Below
Operating Margin 0.03 0.02 0.03 0.04 0.04 0.04 Above
Nonoperating revenue 0.04 0.05 0.03 0.05 0.07 0.17 Varies
Return on total assets 0.04 0.04 0.04 0.04 0.05 0.05 Above
Return on nets assets 0.08 0.08 0.08 0.09 0.1 0.09 Above
Activity ratios
Total asset turnover ratio 1.07 1.19 1.03 0.99 1.03 1.06 Above
Net assets turnover ratio 2.12 2.17 2.03 2.11 2.04 2.21 Above
Age of plant ratio 10.31 10.41 10.12 11.97 10.93 11.19 Below
Capital structure ratios
Long-term debt to net assets ratio 0.21 0.18 0.31 0.42 0.38 0.59 Below
Net assets to total assets ratio 0.54 0.58 0.51 0.47 0.52 0.48 Above
Times interest earned ratio 3.78 3.47 3.43 3.64 4.43 5.13 Above
Debt service coverage ratio 3.18 3.51 3.63 3.5 6.36 4.24 Above
15. Exhibit 4.21 lists the financial ratios for 189-bed Collingswood Community Hospital. Assess the revenue, expenses, and profitability, liquidity, activity and capital structure of Collingwood for 20x1. Explain why these financial measures changed between 20x0 and 20x1, and compare them to national industry benchmarks for Collingwood’s bed size, using data from Exhibit 4.16a.
Ratio 20X1 20X0
Liquidity ratios
Current ratio 3.05 2.01
Acid test ratio 0.65 0.35
Days in accounts receivable 48 60
Days cash on hand 215 120
Average payment period, days 62 48
Revenues, Expense, & Profitability ratios
Operating revenue per adjusted 0.02 0.01
Operating expense per adjusted 0.35 0.05
Salaries and benefit expense as a percentage of total operating expense 0.15 0.04
Operating margin 0.04 0.08
Nonoperating revenue 0.15 0.04
Return on net assets 0.13 0.04
Activity ratios
Total asset turnover ratio 0.9 1.2
Fixed asset turnover ratio 2.2 2.75
Age of plant 8.45 11.15
Capital structure ratios
Debt service coverage ratio Long-term debt to net assets 2.75 4
Long-term debt to net assets 1.4 0.55
Net assets to total assets 0.42 0.65
Expert Answer
Ratio 20X1 20X0 Industry Benchmarks Reasons for change Liquidity ratios Current ratio 3.05 2.01 2.04 Increased on account of higher inventory levels Acid test ratio 0.65 0.35 0.18 Increased on account of lower payables Days in accounts receivable 48 ... view the full answer
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home / study / business / finance / questions and answers / ratio optum & cms median ratio hospital industry ...
Question: Ratio Optum & CMS Median Ratio Hospital Indu...
Ratio Optum & CMS Median Ratio Hospital Industry 1-99 beds 100-199 beds 200-299 beds 300-399 beds 400+ beds Desired position
Liquidity Ratios
Current ratio 2.11 2.18 2.04 1.88 1.71 1.84 Above
Quick ratio 1.52 1.65 1.39 1.27 1.42 1.5 Above
Acid test ratio 0.3 0.35 0.18 0.2 0.2 0.38 Above
Days in account rec. 49 47 45 44 48 44 Below
Days cash on hand 86 85 81 102 76 119 Above
Average pmt period, days 50 45 51 56 53 52 Below
Revenue, expense, and profitability ratios
Operating revenue per adjusted $7,448 $7,086 $6,407 $6,766 $7,121 $7,517 Above
Operating expense per adjusted $7,197 $6,494 $6,112 $6,260 $6,819 $7,399 Below
Salary and benefit expense as a percentage of operating expense 40% 40% 38% 38% 38% 38% Below
Operating Margin 0.03 0.02 0.03 0.04 0.04 0.04 Above
Nonoperating revenue 0.04 0.05 0.03 0.05 0.07 0.17 Varies
Return on total assets 0.04 0.04 0.04 0.04 0.05 0.05 Above
Return on nets assets 0.08 0.08 0.08 0.09 0.1 0.09 Above
Activity ratios
Total asset turnover ratio 1.07 1.19 1.03 0.99 1.03 1.06 Above
Net assets turnover ratio 2.12 2.17 2.03 2.11 2.04 2.21 Above
Age of plant ratio 10.31 10.41 10.12 11.97 10.93 11.19 Below
Capital structure ratios
Long-term debt to net assets ratio 0.21 0.18 0.31 0.42 0.38 0.59 Below
Net assets to total assets ratio 0.54 0.58 0.51 0.47 0.52 0.48 Above
Times interest earned ratio 3.78 3.47 3.43 3.64 4.43 5.13 Above
Debt service coverage ratio 3.18 3.51 3.63 3.5 6.36 4.24 Above
15. Exhibit 4.21 lists the financial ratios for 189-bed Collingswood Community Hospital. Assess the revenue, expenses, and profitability, liquidity, activity and capital structure of Collingwood for 20x1. Explain why these financial measures changed between 20x0 and 20x1, and compare them to national industry benchmarks for Collingwood’s bed size, using data from Exhibit 4.16a.
Ratio                                                                                                                      20X1       20X0
Liquidity ratios
Current ratio 3.05                   2.01
Acid test ratio 0.65 0.35
Days in accounts receivable 48 60
Days cash on hand 215 120
Average payment period, days 62 48
Revenues, Expense, & Profitability ratios
Operating revenue per adjusted 0.02 0.01
Operating expense per adjusted 0.35 0.05
Salaries and benefit expense as a percentage of total operating expense 0.15 0.04
Operating margin 0.04 0.08
Nonoperating revenue 0.15 0.04
Return on net assets 0.13 0.04
Activity ratios
Total asset turnover ratio 0.9 1.2
Fixed asset turnover ratio 2.2 2.75
Age of plant 8.45 11.15
Capital structure ratios
Debt service coverage ratio Long-term debt to net assets 2.75 4
Long-term debt to net assets 1.4 0.55
Net assets to total assets 0.42 0.65
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