Unc healthcare term paper

Therefore, the financial information provided by him about the UNC healthcare is accurate and professional. In addition, he has a Business Management degree from Appalachian State University which is located in Boone, North Carolina. With all these qualifications, I believe the information I gathered from him is thoroughly researched and well measured to be used for financial reporting. To start with, UNC Healthcare is a community Hospital in Raleigh, NC. According to Berans, it is a non-profit health care owned by North Carolina State. UNC Hospital, is a public academic center which was originally established in 1952 to educate health care professionals, offer patient care and provide medical research in conjunction with the UNC School of Medicine (www. unchealthcare. org). The medical center in Chapel Hill house over 900 beds and encompasses the following; N.

C. The memorial was the first to be opened in 1952 to provide academic learning and provide care to patients across the county as well as from various neighboring states. Berans revealed that N. C. Memorial Hospital is the only state-owned teaching and referral hospital in the state of North Carolina. N. Women’s offers general gynecological and obstetric services that comprise full screening and preventive care for women, family planning, gynecologic oncology and fertility services as well as various educational programs. In 2001, N. C. Children’s was opened to offer comprehensive children’s outpatient services as well as inpatient beds (Unchealthcare. org, 2019). The recent financial information that we gathered for the interview was for the year 2017. We compared the information presented by Berens with the one published on the organization’s website.

Therefore, the 2017 annual report of the UNC Healthcare presented the same information as the one I got from the interview with Paul Berens. According to Beren, 2017 was remarkable in the history and progress of their health care. He confessed that it was the year that they UNC Health Care experienced good performance and exceeded their goals. Developing an operating budget Operating budget is a financial plan that management use to generate revenue and pay for expenses over the time of the budget. UNC Health Care can use the information from the PRO FORMA STATEMENT OF REVENUES, and EXPENSES to develop an operating budget. It is recommended that operating budgets should be in effect for a fiscal year, however, they are subject to changes if projected revenues and expenses change markedly from what was planned.

The organization should use records from previous years to create an operating budget. Here comes the application of trend analysis. This employee will work 2,080 hours per year considering that a year has 52 weeks. After annualizing its staff the next step is to calculate the FTE’s of the individual employee. FTE’s enables an organization to knows whether it is staying within legal guidelines or not (Sherman, 2019). For instance, the FTEs should not rise above a certain number. UNC can calculate FTE by adding up their staff’s annual hours and dividing by 2,080. Name of equipment Cost (x) Cost to operate(y) Cash flow(z) Payback Payback period= (x+y)/z iii. payback for buying a new printer printer $3000 $2100 $6000 1. 176 References UNC Health Care.