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Health Care Finance: Financial Statement Analysis

729 words - 3 pages

The Northeast Health Council, INC was established in 1993 to meet the primary healthcare needs of the residents of the Northeast through a not-for-profit community-responsible approach.
A nonprofit analysis helps nonprofit executives and board members understand their organization’s underlying fiscal health and readiness for change and growth. The analysis is a critical tool for Northeast Health Council planning for program expansion, organizational restructuring and/or realignment, financial and fundraising challenges, new executive and board leadership, a new capital project, or acquisition or merger with another nonprofit organization (such as the local health clinic).
The Northeast ...view middle of the document...

Gross profits increased a combined 16% from tax season 2010 to 2012. Due to Health Care Reform, this non-profit organization now receives the necessary funds from grants and charitable contributions to run efficiently, stay ahead, and not fall behind. I believe the financial health of Northeast Health Council is bounced back from just 3 years ago, it is not only serving the community (low-income) but is also successfully supplying more and more job opportunities as they expand.
I think the industry trend that has impacted this organizations financial performance is the Health Care Reform or Obama Care, thus more new patients. This trend has pushed more people to vie for the need of cheaper health and dental coverage, Health Council does just that. Health Council offers a sliding fee to those who are unable to afford expensive care, they accept all government assistance and aide for health services. Contingencies such as lawsuits and federal, state and local regulations are reasonably possible because they are not in Health Council control and can occur at any time; they will have a material adverse effect on its financial condition or results of operations if some of them occur.
As CFO, I would push JACHO and OSHA standards and have monthly or even weekly safety briefings to ensure all of my staff is well educated...

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