Healthcare Practice Revenue and Finance Essay Assignment Paper
Healthcare Practice Revenue and Finance Essay Assignment Paper
There are three main types of financial documentation healthcare practices should use to determine their financial status: revenue and expenses; adequacy of resources (capital); and ability to renew or replenish itself (Suarez, Lesneski, & Denison, 2011). The first type of documentation is revenues and expenses, which should be in balance. To measure the profitability margin, expenses are subtracted from the revenues. The most common margin measures are computed by determining the total revenue from all sources and subtracting the total expenses. Another measure is the operating margin which is computed using only operational activities revenues that are associated with non-operating revenues. The third commonly used margin is the patient care margin, considered to be at the core of the health care facility. For this margin, patient care services revenues for patient care is compared with operating costs for services for patient care (Suarez, Lesneski, & Denison, 2011).
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