Summative Assessment: Health Care AccountingUniversity of PhoenixMHA/598 06:52:39 GMT -05:00IntroductionThis is a summative assessment of the financial strategy of the healthcare organization called BJC Healthcare System. It will provide the details of the trends in expenses and revenue and if th...
This is a summative assessment of the financial strategy of the healthcare organization
called BJC Healthcare System. It will provide the details of the trends in expenses and revenue
and if they are on target to meet their budget goals. The method that the organization has to
reduce its expenses without damaging its services and the quality of care it provides, as well as
its reimbursement strategy, is shared. Lastly, the method used to build its financial performance
to build its brand is discussed.
Trends in Expenses and Revenue
BJC is one of the largest non-profit St. Louis Missouri-based healthcare organizations in
the U.S. Its primary residents are located throughout the St. Louis region, southern Illinois, and
the Mid-west regions. It is the largest provider of charity care, as well as unreimbursed care, and
is known for its community benefits in Missouri. It provides services to 14 hospitals as well as
multiple community health locations within the St. Louis area. BJC also provides inpatient and
outpatient care, primary care, community health and wellness, workplace health, home health,
community mental health, rehabilitation, long-term care, and hospice. In January 2024, St
Luke’s Health System located in Kansas City Missouri joined BJC.
In 2023, BJC’s financial performance trends included an operating income of $141.6
million (2% margin) and it had an improvement of the $48 million loss in 2022 that was posted
that year, which was a (0.7% margin). According to the financial documents that were
published on February 28th, there has been an 11% increase in revenue for the healthcare system
year over year to $6.9 billion as the expenses rose by 9% to $6.8 billion. Labor costs have
increased by 6% to $3.5 billion with the supply costs jumping by 15% to $2.9 billion.
06:52:39 GMT -05:00
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller newage. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
