Financial Plan
Carolinas Healthcare System, a non-profit self-sustaining public organization, is the largest healthcare system in combined North and South Carolina. It is a multi-disciplinary, integrated healthcare system that provides an extensive range of health and human services to the general public of Carolina. The organization owns, leases and manages hospitals, nursing homes, physical therapy facilities, home healthcare agencies, as well as other healthcare associated operations (Carolinas Healthcare System, 2016). The organization employs more than 60,000 personnel and has a capacity of over 7,500 registered beds. The following section encompasses a projected budget that contains a 3-year financial projection from December 31, 2015. The financial projection takes into account detailed expenditures, income, contingency, gain or loss (Carolinas Healthcare System, 2015). The financial projection outlines the net revenues and the net expenses of the organization.
CAROLINAS HEALTHCARE SYSTEM
3 YEAR FINANCIAL PROJECTION
STARTING DECEMBER 31, 2015
NET REVENUE
2015
Year 1
Year 2
Year 3
% of total
% of total
% of total
% of total
Tertiary & Acute Care Services
6,877,396
76%
7544000
78%
7819646
77%
8103997
76%
Continuing Care Services
282,080
3%
467147.7
4.83%
639789.3
6.30%
789073.4
7.40%
Specialty Services
82,055
1%
93816.41
0.97%
121864.6
1.20%
106631.5
1%
Physicians' Services
1,565,625
17%
732308.7
14%
1370977
13.50%
1386210
13%
Other Services
231,905
3%
212779.5
2.20%
203107.7
2%
277242
2.60%
Totals
9,039,061
9671795
10155385
10663154
NET EXPENSES
Wages, Salaries & Benefits
4,981,692
55%
5230777
54.08%
6315634
62.19%
6611156
62%
Materials. Supplies & Other
3,010,451
34%
2,810,037
29.05%
2843508
28%
2879052
27%
Depreciation & Amortization
501,945
6%
506964.5
5.24%
510815.9
5.03%
639789.3
6%
Financing Costs
The internal resources and financial capabilities have a significant impact on the implementation of the business model. For example, the internal resource of the organization is the expertise of the physicians to have a significant impact on the implementation of the business model. As pointed out in the annual report of Carolinas Healthcare System, the physicians are constantly seeking ways in which they can enhance not only the healthcare that the patients receive, but also the experience they have whilst receiving it. In particular, the assimilation of technology, clinical distinction, and patient-centred care have a positive influence on the business model (Carolinas Healthcare System, 2015). Financial capability is the knowledge, know-how, attitudes and behaviour of persons with respect to the management of financial resources and understanding, selecting and utilizing financial services that are suited to the needs of the organization's (World Bank, 2013). One of the main ways in which the organization's internal resources and financial capabilities affect the financial plan is that inefficient execution implies that the organization is not able to meet its goals. This in turn adversely impacts the financial plan set by the objective. In addition, the financial capabilities adversely influence the implementation of the plan in the sense that it leads to poor decision-making, which…
Health Care Delivery Systems The structure and organization of the resources that make it possible to provide health care services to target populations is referred to as a health care system. The variety of health care systems is very wide with strong evolutionary histories tied to the governments, religious organizations, charitable organizations, labor unions, and for-profit market participants. Five Health Care Delivery Systems Reid set out around the world to study healthcare systems
The heated nature of the current political debate in the United States upon the subject of healthcare is testimony to the idea that far less than economic numbers, cultural wars govern how healthcare is perceived and administrated. All nations face the problem of cost containment of an increasingly expensive healthcare system. People are living longer, and the nations of the developed world have populations with a far higher median age
Healthcare Finance In order to be successful in the present complex and frequently unfavorable business settings, a healthcare organization's strategic direction should be estimated, focused, and financially sustainable. Strategic business planning is an indispensable instrument to aid organizations focus strategic choices within the financial actualities of their environment. An efficient strategic business planning cycle includes making an evaluation, identification of business objectives, making strategies, performing an impact analysis and developing an
Managed Care Health Reimbursement Systems in the United States With health care costs skyrocketing consumers and health insurance companies alike are seeking solutions to the growing crisis in health care within the United States. This crisis revolves primarily around the lack of coverage that exists for millions of Americans. Employers are more and more dropping out of traditional health insurance programs and seeking new ways to provide employees with health
A Model Healthcare Delivery System Introduction The healthcare delivery system also referred to in short as the HCDS is the most effective system that works for most healthcare organizations in all countries with fair, effective and efficient distribution of resources. It is a fast growing service that demands attention from various quarters and domains. At the optimal level, the service program presents relief and hope to the individual, and the general population.
Organizational Structure Mission, Vision and Key Values This organization will be a new healthcare organization / group home for veterans. The mission is to provide a safe and stable environment for veterans to recover from injury, surgery or trauma. The vision is an America where veterans feel valued, and where their service is repaid with the highest honor. The key external values of the organization are going to be healing, compassion, and
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now