American Hospital Directory
Select the organization you would like to analyze in part two of the final project using the following resources: DBHoovers, ProPublica, or American Hospital Directory. Present your proposal to the instructor for approval to ensure that you will have access to sufficient financial information on the healthcare organization to complete the final project.
In your proposal, address the following elements:
What organization is the focus of your report?
Analyze the organization by identifying the sub-industry or type of organization it belongs to (e.g., home care, hospital) and the financial background of the organization.
Based upon the information you researched in Module Two, is the organization you selected a nonprofit or for-profit?
Finally, considering the sub-industry your organization belongs to, what kind of impact do the economic principles of demand and market/consumer behavior have on this organization’s financial statements? For example, do the statements reflect a spike on revenue during the winter due to increased injuries and accidents related to ice?
Support your proposal with a minimum of two cited sources.
DBHoover site: https://app.hoovers.dnb.com/
ProPublica: https://projects.propublica.org/nonprofits/
American Hospital Directory: https://www.ahd.com/
Sample Solution
Organization: The Mayo Clinic Sub-industry or type of organization: The Mayo Clinic is a nonprofit academic medical center based in Rochester, Minnesota. It is one of the largest integrated health care systems in the United States, with over 73,000 employees and over 1.3 million patients seen annually.Full Answer Section
Financial background: The Mayo Clinic is a financially sound organization. In 2021, it had revenue of $17.3 billion and net income of $2.3 billion. The clinic is funded by patient care revenue, research grants, and philanthropy. Financial analysis: The Mayo Clinic's financial performance has been strong in recent years. Revenue has increased steadily, and net income has remained at a healthy level. The clinic's financial strength is due to a number of factors, including its strong brand reputation, its high-quality patient care, and its efficient operating model. Financial risks: The Mayo Clinic faces a number of financial risks, including the rising cost of health care, the increasing competition from other health care providers, and the potential for natural disasters or other disruptions to its operations. However, the clinic has a strong financial foundation and a track record of managing risk, so it is well-positioned to weather these challenges. Conclusion: The Mayo Clinic is a financially sound organization with a strong brand reputation and a high-quality patient care model. The clinic faces a number of financial risks, but it is well-positioned to manage these risks. Here are some additional thoughts on analyzing an organization's financial background:- Revenue: Revenue is the amount of money that an organization generates from its operations. It is important to track revenue over time to see how it is trending.
- Net income: Net income is the amount of money that an organization has left after it has paid all of its expenses. It is a good measure of an organization's profitability.
- Profit margin: Profit margin is the percentage of revenue that an organization keeps as profit. It is a good measure of an organization's efficiency.
- Debt: Debt is the amount of money that an organization owes to creditors. It is important to track debt over time to make sure that it is not becoming too high.
- Liabilities: Liabilities are the debts and other obligations that an organization owes. They are important to track to make sure that they are not becoming too high.