Miller, K. P. (2013). The National Practitioner Data Bank: An Annual Update. The Journal for Nurse Practitioners, (9)9, 576-580.October 13, 2018
After discussion with your mentor, name one financial aspect, one quality aspect, and one clinical aspect that need to be taken into account for developing the evidence-based practice project. Explain how your proposal will directly and indirectly impact each of the aspects.October 13, 2018
Revenue and Related Transactions. During its current fiscal year, Evanston General Hospital, a not-for-profit health care organization, had the following revenue-related transactions (amounts summarized for the year).
- Services provided to inpatients and outpatients amounted to $9,520,000, of which $550,000 was for charity care, $970,000 was paid by uninsured patients, and $8,000,000 was billed to Medicare, Medicaid, and insurance companies.
- Donated pharmaceutical and medical supplies valued at $340,000 were received and utilized as general expenses.
- Medicare, Medicaid, and third-party payors (insurance companies) approved and paid $6,000,000 of the $8,000,000 billed by the hospital during the year (see transaction 1).
- An unconditional contribution of $6,000,000 was received in cash from a donor to construct a new facility for care of Alzheimers patients. The full amount is expendable for that purpose. No activity occurred on this project during the current year.
- A total of $965,000 was received from the following activities/sources: cafeteria and gift shop sales, $710,000; medical seminars, $125,000; unrestricted transfers from the Evanston General Hospital Foundation, $75,000; and fees for medical transcripts, $55,000.
- Uncollectible accounts totaling $4,250 were written off. The allowance for uncollectible receivables was increased by $1,000.
Governmental Hospital. During 2017, the following selected events and transactions were recorded by Nichols County Hospital.
- Gross charges for hospital services, all charged to accounts and notes receivable, were as follows:
|Patient service revenues
- The hospital cafeteria and gift shop had cash sales of $295,300.
- Additional information relating to current-year is as follows:
|Provision for bad debts
- A federal cost reimbursement research grant of $350,000 was awarded. As of the end of the year, $200,000 in expenses related to the grant had been made. (Hint: See Chapter 4 for eligibility requirements.)
- Vouchers totaling $1,326,540 were issued for the following items:
|Fiscal and administrative services expenses
|General services expenses
|Nursing services expenses
|Other professional services expenses
|Expenses accrued at December 31, 2017
- Collections of accounts receivable totaled $1,159,000. Accounts written off as uncollectible amounted to $11,900.
- Cash payments on vouchers payable (paid to employers and suppliers) during the year were $1,031,200.
- During the year, the hospital received unrestricted cash contributions of $50,000 and unrestricted cash income from endowment investments of $6,500.
- Supplies of $99,770 were issued to nursing services.
- On December 31, 2017, accrued interest income on investments was $800.
- Depreciation of buildings and equipment was as follows:
- On December 31, 2017, closing entries were made in the general journal.
Using this information,
- Show in general journal form the entries that should be made for each of the transactions and the closing entries in accordance with the standards for a governmental health care entity that follows proprietary fund accounting, as discussed in this chapter and Chapter 7.
- Using the available information, calculate the net patient service revenue that would be reported on the statement of revenues, expenses, and changes in net position.
Using this information:
- Record the preceding transactions in general journal form.
- Prepare the unrestricted revenues, gains, and other support section of Evanston Dearborn General Hospital’s statement of operations for the current year, following the format in Illustration 164.
- On which statement would restricted contributions be reported? Explain.
"Is this question part of your assignment? We Can Help!"