1. Is Eye Vision's arrangement with Holland Hospital within the scope of ASC 985-605, Software: Revenue Recognition?…
Poor executive leadership by the recently replaced CEO, Richard Fuchs, has resulted in great financial losses for ELH. Further paramount financial losses have resulted from extreme budgeting discrepancies, mismanaged funds and failure to identify loss-contributors in time to rectify them. These losses have resulted in a decreased morale of the existing staff and have made recruiting for open positions difficult. The staff’s faith in the facility and its longevity has wavered and diminished as a direct result of mismanagement and the resulting financial instability. Nearby competition from a newer and better-equipped for-profit hospital that offers specialty care is a direct and impending threat. Increasing billing regulations from Medicare that call for replacing/purchasing new computer systems are sure to add to the surmounting financial pressures.…
3. Calculate the firm’s new receivables balance if Milwaukee Surgical toughened upon its collection policy, with the result that all non-discount customers paid on the 30th day.…
There are ten plans available to Medigap policyholders labeled A through J. These plans have core benefits that are available to the policyholder. In summary, payment for an extended stay in the hospital that the Medicare insurance did not cover would be covered by the Medigap insurance. This insurance would also pay all or the majority of the co-pay. It would cover preventive care, first 3 pints of blood, skilled nursing facility coinsurance and deductible Medicare.…
You have been the CEO of Middlefield Hospital for 2 1/2 years and finally resolved the workforce challenges that plagued the hospital when you first arrived. In a recent meeting, the chief financial officer (CFO) indicated that the financial performance of the hospital has been deteriorating over the last 6 months. The hospital is not meeting its budget and he is concerned about the future. The new facility across town has continued to cut into Middlefield 's market share by admitting more patients. The number of admissions to Middlefield Hospital is declining each month, and more uninsured patients are seeking services at your facility. You convene the Middlefield Hospital management team and discover a few interesting facts, which are identified below.…
Despite the agreement that The ABC Insurance Company and Verde Greene Hospital made, there are many issues that could drastically affect both parties if this agreement were to be signed. It appears that as neither Verde Green, nor ABC considers how this agreement would impact patients in regards to quality of care or medical staff in regards to losing patients. With that said, ABC should consider renegotiating the terms of the agreement in which they are in the process of making with Verde Green. The agreement in question, would not benefit the majority of the patients base that require cardiac or maternity services given the amount of traveling that the patients would have to do in order to receive care. As a result, the insurance company must express the fact that they are unable to meet the stipulations in which Verde Greene requested for…
Emergency Room Care ($302 per visit and 4 visits per year (each quarter) for 20 years) = $24,160…
The Hospital Management Associates (HMA) acquired Riverview Medical Center (RRMC, a 281 bed for acute care in 2004. HMA reconstructed the facility turning it into a leading-edge, high quality of care health care organization. The facility is one of the primary employers in the area and provides job opportunities to approximately “700 individuals in the local area” (Richards & Slovensky, 2004). RRMC has encountered significant challenges against their competitors: Mountain View, Gadsden Regional and HealthSouth. One major challenge…
• Title of the course for which the book was adopted and season course is taught…
I felt this case was of negligence and malpractice, how can someone complain about their discomfort, provide relevant medical history and not get the proper diagnosis. They could have provided a more I depth diagnosis or allowed for a longer observation period. Hospitals often struggle to find a balance between profit and patient care. If the profit margin was not the first priority, then maybe we can avoid similar cases like this. It seems that the struggle for tort reform in finding a good balance between protecting healthcare institutions and at the same time allow for patients the opportunity to pursue compensation when malpractice does occur is…
References: olam v. Feirn Hospital Management Committee (1957) 1 WLR 582. Document No:C1745651, From Lawtel DatabaseBrazier, M. (1992) Medicine, Patients and the Law. 2nd ed. Penguin books: London, UK.…
This case of U.S government versus defendant McClatchey involves hospital CEO, two physicians, and Mr. McClatchy who is a part of the administrative staff at Baptist Medical center. Two physicians involved in the case worked together in a group practice called BVMG that provided care to the nursing homes. In 1984, they brought a proposal to the Baptist Medical Center to have them buy the practice and in return physicians were to refer their patients from other hospitals to Baptist medical center. This proposal was rejected; however, some negotiation of this plan took place and Baptist medical center agreed to pay a fee of 75,000 dollars to each doctor for providing some services to the medical center. The doctors and the medical center stayed in contract until 1993 and it was told in the testimony that contract was still kept even after learning that the doctors were not providing the services that they promised to provide in that contract.…
Memorial Hermann does not have the right number of physicians, beds, operating rooms, MRIs and other facilities for a new type of payment environment where the financial incentives will change. The distribution of facilities, which works well in the current fee-for-service environment, is too expensive for the anticipated…
Some concerns of hospitals are surviving in a competitive world. Bringing in the right stakeholders, donators. Also achieving the highest reimbursement from private and state and local insurances. In today’s economy there are many urgent care and private facilities, which patients and consumers along with residents can choose from.…
1. This case starts out in a lab that is located in a building that is operated by Crescordia. Crescordia is a company that makes a range of products such as artificial hips and scalps but also is one of the few companies that sell fixation devices. At the beginning of the case Crescordia holds a seminar for orthopedic surgeons so they can better familiarize themselves with the products and procedures that are needed when dealing with using these fixation plates. During this seminar the CEO Peter Walsh enters excitedly to see what is going on. You can tell right from the start that he is a very big people person and is incredibly interested in finding out the needs and what surgeons are saying about the products that he puts out. After Peter Walsh enters the seminar is put on hold and they all go out to lunch. During lunch one of the surgeons launched into a story about having to remove a resorbable plate, which are fixation devices that instead of having to be removed by doctors after the bone is healed these would just disintegrate after the bone had been healed which would mean that you would not have to have surgery again to remove the plate. The story however takes a sad turn as you find out that most resorbable plates have a lot of problems that have not been figured out and is still a technology that is not capable of doing what it says. The surgeons asked Peter Walsh when Crescordia would plan to launch its own resorbable’s and his response was that Crescordia is a company that has a reputation for quality and that resorbable’s were not at the stage where they would live up to what they set out to do. Resorbable’s are a huge potentially untapped market so Peter Walsh made it his first priority to find out where Crescordia is at with its resorbable’s. He talked with Gary Miskimen who is the head of R&D. He basically confirmed to Walsh that resorbable’s still are not perfect and that they could not do any more lab…