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Briefly provide a general overview of each hospital (ownership, affiliations, community served, brief history, general goals/objectives, bed count, patient volume, known specialties, etc) (2 paragraphs max)(6 pts)
Compare and contrast key operating and financial indicators for each hospital and compare with industry benchmarks. This should be done in table format. (8 pts)
identify at least 5 financial AND 5 operating ratios , which you will be calculating to compare your two competing hospitals. Do a little research on what healthcare finance leaders and investors think are important indicators. We’re talking about ratios like Operating Margin, Debt to Capital, Days Cash on Hand, Average Daily Census, Occupancy Rate, Payor Mix and Case Mix Index, Avg Length of Stay by Payor, etc., for instance.
Analysis Part 1: Explain and summarize each ratio, how each is calculated and what each ratio means in terms of overall performance for each hospital. (Imagine you’re preparing a written financial report to the board of directors. Help them understand what you’re presenting). (10 pts)
Analysis Part 2: Summarize your overall findings from your analysis by comparing ratios to determine which hospital is performing better and why? As direct competitors, why might one hospital be doing better than the other (your educated conjecture is required here)? Were there any operational findings that could explain the performance differences (e.g., nursing shortage, expansion or closure of facilities, addition of new specialties, etc)? Base on financial performance, is each hospital fulfilling its mission? (10 pts)