1. Read Case 29: Riverview Community Hospital and review the spreadsheet.
2. Write a case review that addresses financial forecasting addressing the questions in the case and provide recommendations.
Here are some ideas, references and content related to review the given case.
Case Review financial Forecasting
Riverview Community Hospital is a reputed non-profit acute hospital that is known for its quality healthcare services. This report is based on the analysis of findings of financial forecasting or plan of hospital to guide you in this case review. The current trends and competition situation in healthcare industry will be also reviewed to make clear assumption for financial forecasting.
Current Trends in Healthcare Industry
The healthcare industry of US is one of the largest medical service providers in the world due to presence of large public and private sector hospitals with quality services and facilities. At present, healthcare costs is continuously rising in US that is a biggest concern for federal government as well as hospitals due to potential impact on profit margins. But still, it is growing at steady rate year-by-year due to increase in demand and population of aging people (Anthony & Newhouse, 2000). Increased demand in healthcare staffing, industry preparation for the Affordable Care Act (ACA), more opportunities for specialty training, increased focus on consumer awareness and preventative care and increasing healthcare expenditure are some of the major trends in the US healthcare sector (Supplemetal Helath Care, 2013).
At the same time, the lack of accessibility for common people to purchase medical insurance policy is also a trend of current healthcare system because of higher insurance premium. But, it is expected that the new Patient Protection and Affordable Care Act will be helpful to provide insurance facility to 30 million uninsured Americans that will benefit the hospitals due to timely payments of medical bills by insurance companies (Johnson, 2012).
Currently, Riverview Community Hospital is facing tough competition from other three hospitals that are ...
The solution discusses financial forecasting and forecasting income statements.