HEALTHCARE FINANCIAL MANAGEMENT AND ECONOMICS
WEEK 7 ASSIGNMENT — PUTMAN MEDICAL CENTER
Developing Financial Statements
All organizations, including those in the healthcare industry, need to make money to be profitable and survive. Financial statements, such as balance sheets, profit and loss statements, and cash flow statements, summarize an organization’s profitability and overall financial status. For this Assignment, you practice developing three key financial statements using data from the Putman Medical Center.
Putman Medical Center
Putman Medical Center is a large Midwestern acute care and ambulatory facility serving an urban city population.
Givens (in '000s):
Patient revenues (net of contractuals)
Net accounts receivable
Ending balance, temporarily restricted net assets
Gross plant, property, and equipment
Net assets released from temporary restriction
Transfer to parent corporation
Beginning balance, unrestricted net assets
Beginning balance, temporarily restricted net assets
Provision for bad debt expense
Ending balance, unrestricted net assets
To prepare for this Assignment:
Examine the data from Putman Medical Center. Reflect on how you will use this data to develop a Balance Sheet, Profit and Loss Statement, and Cash Flow Statement. Refer to the course text for additional guidance.