Health Care Ratio Analysis
1. Financial Documents
a. An income statement is a management tool used to show profitability of an organization by itemizing the revenue and expenses to analyze data for profit or loss. It can be used to indicate areas that need improvement. An income statement is also called an earnings report or operating statement.
i. Fixed costs are costs that don’t change based on volume of product or in this case patient influx. This includes expenses related to rent, electric, and administrative salaries to name a few. ii. Variable costs are costs that change on a regular day-to-day basis. In the case of this hospital it would include variable number of nursing staff, supplies, and medications. These items directly relate to the possible profit, …show more content…
The actual cost of a full-time RN for this hospital is approximately $72,000. For this estimate, I included the cost of wages paid, and benefits. Wages incorporates direct-care hours and indirect hours, which are staff meetings and education. Benefits combine vacation time, sick leave time, insurance benefits, and 401K matching benefit. All of these are costs that full-time employees earn and must be considered when discussing the total cost of full-time employees.
b. A balance sheet is a condensed statement the financial position of an organization for a specific amount of time (usually monthly, quarterly, or annually). This statement shows a business’ assets including the owner(s)’ liabilities and equity. A balance statement will show if a company is making profit or if expenses are costing more than the business is …show more content…
In Missouri staffing ratios are left to facility policy, provided they have sufficient nursing coverage to provide necessary, competent care to all patients. No set staff ratio exists at this time for Missouri staff nurses.
e. On the typical medical-surgical unit, numerical staff ratios are used.
f. For my medical-surgical units I would like to use acuity based staffing ratio. I feel like this would allow my staff to provide better care of the patients.
4. Considerations When Admitting Patients to Beds
a. The physician decides which unit the patient needs to be admitted to and bed control will decides which available bed on the needed to unit is to be
a. An income statement is a management tool used to show profitability of an organization by itemizing the revenue and expenses to analyze data for profit or loss. It can be used to indicate areas that need improvement. An income statement is also called an earnings report or operating statement.
i. Fixed costs are costs that don’t change based on volume of product or in this case patient influx. This includes expenses related to rent, electric, and administrative salaries to name a few. ii. Variable costs are costs that change on a regular day-to-day basis. In the case of this hospital it would include variable number of nursing staff, supplies, and medications. These items directly relate to the possible profit, …show more content…
The actual cost of a full-time RN for this hospital is approximately $72,000. For this estimate, I included the cost of wages paid, and benefits. Wages incorporates direct-care hours and indirect hours, which are staff meetings and education. Benefits combine vacation time, sick leave time, insurance benefits, and 401K matching benefit. All of these are costs that full-time employees earn and must be considered when discussing the total cost of full-time employees.
b. A balance sheet is a condensed statement the financial position of an organization for a specific amount of time (usually monthly, quarterly, or annually). This statement shows a business’ assets including the owner(s)’ liabilities and equity. A balance statement will show if a company is making profit or if expenses are costing more than the business is …show more content…
In Missouri staffing ratios are left to facility policy, provided they have sufficient nursing coverage to provide necessary, competent care to all patients. No set staff ratio exists at this time for Missouri staff nurses.
e. On the typical medical-surgical unit, numerical staff ratios are used.
f. For my medical-surgical units I would like to use acuity based staffing ratio. I feel like this would allow my staff to provide better care of the patients.
4. Considerations When Admitting Patients to Beds
a. The physician decides which unit the patient needs to be admitted to and bed control will decides which available bed on the needed to unit is to be