- A discussion of what solid revenue cycle and accounts management should look like in this organization.
- A review of their financial statement including a financial condition analysis utilizing financial rationale youve learned in this course.
- An interpret of the financial condition analysis and a recommended plan of action for the organizations Board of Directors.
Denver Health and Hospital Authority Statements of Net Position December 31, 2020 and 2019 Liabilities, Deferred Inflows of Resources and Net Position 2020 2019 $ Current Liabilities Current maturities of bonds payable Current maturities of capital leases Current maturities of notes payable Current maturities of program support liability Medical malpractice liability Accounts payable and accrued expenses Accrued salaries, wages and employee benefits Accrued compensated absences Postemployment benefits Accelerated Medicare payments Unearned revenue Accrued claims 11,825,000 353,434 1,848,036 5,588,981 7,360,716 54,988,685 30,475,826 33,041,927 14,036,927 174,564 3,665,609 8,592,000 6,591,279 50,270,550 28,396,605 29,461,535 17,599,733 8,919,516 39,203,872 25,539,591 3.000 Total current liabilities 193,605,993 184,331,393 21,812,696 114,890 Long-term Liabilities Long-term portion of liability for estimated third-party settlements Long-term portion of compensated absences Long-term portion of accelerated Medicare payments Bonds payable, less current maturities Capital lease obligations, less current maturities Notes payable, less current maturities Program support liability, less current maturities Net pension liabilty Postemployment benefits Total long-term liabilities 10,650,855 116,076 19,031,874 295,808,980 2,098,905 43,997,714 308,142,655 78,365,464 4,540,571 46,605,068 11,823,587 115,717,505 5,959,778 454,610,439 510,176,179 Total liabilities 648,216,432 694,507,572 32,019,253 14,878,212 Deferred Inflows of Resources Deferred inflows of resources related to pension benefits Deferred inflows of resources related to other postemployment benefits 1,223,299 1,371,114 Total deferred inflows of resources 33,242,552 16,249,326 Total liabilties and deferred inflows of resources 681,458,984 710,756,898 Net Position Net investment in capital assets Unrestricted 302,722,723 344,690,551 253,282,408 294,924,383 Total net position 647,413,274 548,206,791 Total liabilities, deferred inflows of resources and net position $ 1,328,872,258 $ 1,258,963,689 Denver Health and Hospital Authority Statements of Revenues, Expenses and Changes in Net Position Years Ended December 31, 2020 and 2019 2020 2019 S $ 769,673,893 (12,600,000) 775,098,368 14,150,174 Operating Revenues Net patient service revenue Capitation earned net of reinsurance expense Medicaid disproportionate share and other safety net reimbursement City and County of Denver payment for patient care services Federal, state and other grants City and County of Denver purchased services Poison and drug center contracts Other operating revenue Total operating revenues 131,245,683 27,773,299 77,222,260 25,373,371 24,303,056 44,328,770 125,955,648 30,777,300 68,170,544 29,985,490 23,587,670 44,163,185 1,087,320,332 1,111,888,379 Operating Expenses Salaries and benefits Contracted services and nonmedical supplies Medical supplies and pharmaceuticals Managed care outside provider claims Depreciation and amortization Total operating expenses Operating income (loss) 685,809,148 203,654,814 148,260,160 (1,361,653) 51,622,108 681,038,029 197,282,805 133,164,071 (425,033) 47,045,062 1,087,984,577 1,058,104,934 (664,245) 53,783,445 20,000 (306,600) 86,998,388 Nonoperating Revenues (Expenses) Increase (decrease) in equity in joint venture Non operating grant revenue (CARES Act/FEMA) Bond issuance costs Interest income Interest expense Net increase in fair value of investments Gain on disposition of capital assets Total nonoperating revenues (expenses) 12,352,582 (15,523,703) 7,495,684 5,444,447 (1,372,732) 12,831,539 (15,829,395) 18,688,943 96,460,798 14,338,355 Income before capital contributions 95,796,553 68,121,800 Contributions Restricted for Capital Assets 3,409,930 59,044,434 Increase in net position 99,206,483 127,166,234 Total Net Position, Beginning of Year 548,206,791 421,040,557 Total Net Position, End of Year S 647,413,274 548,206,791 Denver Health and Hospital Authority Statements of Net Position December 31, 2020 and 2019 Assets and Deferred Outflows of Resources 2020 2019 $ 71,240,026 $ 63,293,839 4,049,520 Current Assets Cash and cash equivalents Short-term investments Patient accounts receivable, net of estimated uncollectibles of approximately $38,092,000 and $35,900,000 in 2020 and 2019, respectively Due from other governmental entities Due from City and County of Denver Other receivables Interest receivable Due from and investment in discretely presented component units Inventories Prepaid expenses and other assets 73,056,520 22,203,862 6,944,837 16,534,171 1,717,635 2,862,537 16,423,825 14,999.777 72,159,383 24,273,986 14,253,548 16,832,316 1,942,134 13,907,053 12,620,104 15,176,070 Total current assets 225,983,190 238,507,953 Noncurrent Assets Notes receivable Estimated third-party payor settlements receivable Equity interest in joint venture Restricted investments Capital assets, net of accumulated depreciation Long-term investments Board-designated investments Other long-term assets Total noncurrent assets 30,389,348 5,200,003 2,015,033 19,051,732 648,251,923 363,186,193 7,000,000 1,315,657 15,432,000 2,780,383 1,961,633 50,887,939 608,215,355 280,266,904 16,400,000 1,614,354 1,076,409,889 977,558,568 Total assets 1,302,393,079 1,216,066,521 9,984,737 22,816,240 Deferred Outflows of Resources Deferred outflows of resources related to pension benefits Deferred outflows of resources related to other postemployment benefits Deferred outflow - acquisitions Loss on refunding of debt 491,682 71,667 15,931,093 1,598,213 157,667 18,325,048 Total deferred outflows of resources 26,479,179 42,897,168 Total assets and deferred outflows of resources $ 1,328,872,258 $ 1,258,963,689 Denver Health and Hospital Authority Statements of Net Position December 31, 2020 and 2019 Liabilities, Deferred Inflows of Resources and Net Position 2020 2019 $ Current Liabilities Current maturities of bonds payable Current maturities of capital leases Current maturities of notes payable Current maturities of program support liability Medical malpractice liability Accounts payable and accrued expenses Accrued salaries, wages and employee benefits Accrued compensated absences Postemployment benefits Accelerated Medicare payments Unearned revenue Accrued claims 11,825,000 353,434 1,848,036 5,588,981 7,360,716 54,988,685 30,475,826 33,041,927 14,036,927 174,564 3,665,609 8,592,000 6,591,279 50,270,550 28,396,605 29,461,535 17,599,733 8,919,516 39,203,872 25,539,591 3.000 Total current liabilities 193,605,993 184,331,393 21,812,696 114,890 Long-term Liabilities Long-term portion of liability for estimated third-party settlements Long-term portion of compensated absences Long-term portion of accelerated Medicare payments Bonds payable, less current maturities Capital lease obligations, less current maturities Notes payable, less current maturities Program support liability, less current maturities Net pension liabilty Postemployment benefits Total long-term liabilities 10,650,855 116,076 19,031,874 295,808,980 2,098,905 43,997,714 308,142,655 78,365,464 4,540,571 46,605,068 11,823,587 115,717,505 5,959,778 454,610,439 510,176,179 Total liabilities 648,216,432 694,507,572 32,019,253 14,878,212 Deferred Inflows of Resources Deferred inflows of resources related to pension benefits Deferred inflows of resources related to other postemployment benefits 1,223,299 1,371,114 Total deferred inflows of resources 33,242,552 16,249,326 Total liabilties and deferred inflows of resources 681,458,984 710,756,898 Net Position Net investment in capital assets Unrestricted 302,722,723 344,690,551 253,282,408 294,924,383 Total net position 647,413,274 548,206,791 Total liabilities, deferred inflows of resources and net position $ 1,328,872,258 $ 1,258,963,689 Denver Health and Hospital Authority Statements of Revenues, Expenses and Changes in Net Position Years Ended December 31, 2020 and 2019 2020 2019 S $ 769,673,893 (12,600,000) 775,098,368 14,150,174 Operating Revenues Net patient service revenue Capitation earned net of reinsurance expense Medicaid disproportionate share and other safety net reimbursement City and County of Denver payment for patient care services Federal, state and other grants City and County of Denver purchased services Poison and drug center contracts Other operating revenue Total operating revenues 131,245,683 27,773,299 77,222,260 25,373,371 24,303,056 44,328,770 125,955,648 30,777,300 68,170,544 29,985,490 23,587,670 44,163,185 1,087,320,332 1,111,888,379 Operating Expenses Salaries and benefits Contracted services and nonmedical supplies Medical supplies and pharmaceuticals Managed care outside provider claims Depreciation and amortization Total operating expenses Operating income (loss) 685,809,148 203,654,814 148,260,160 (1,361,653) 51,622,108 681,038,029 197,282,805 133,164,071 (425,033) 47,045,062 1,087,984,577 1,058,104,934 (664,245) 53,783,445 20,000 (306,600) 86,998,388 Nonoperating Revenues (Expenses) Increase (decrease) in equity in joint venture Non operating grant revenue (CARES Act/FEMA) Bond issuance costs Interest income Interest expense Net increase in fair value of investments Gain on disposition of capital assets Total nonoperating revenues (expenses) 12,352,582 (15,523,703) 7,495,684 5,444,447 (1,372,732) 12,831,539 (15,829,395) 18,688,943 96,460,798 14,338,355 Income before capital contributions 95,796,553 68,121,800 Contributions Restricted for Capital Assets 3,409,930 59,044,434 Increase in net position 99,206,483 127,166,234 Total Net Position, Beginning of Year 548,206,791 421,040,557 Total Net Position, End of Year S 647,413,274 548,206,791 Denver Health and Hospital Authority Statements of Net Position December 31, 2020 and 2019 Assets and Deferred Outflows of Resources 2020 2019 $ 71,240,026 $ 63,293,839 4,049,520 Current Assets Cash and cash equivalents Short-term investments Patient accounts receivable, net of estimated uncollectibles of approximately $38,092,000 and $35,900,000 in 2020 and 2019, respectively Due from other governmental entities Due from City and County of Denver Other receivables Interest receivable Due from and investment in discretely presented component units Inventories Prepaid expenses and other assets 73,056,520 22,203,862 6,944,837 16,534,171 1,717,635 2,862,537 16,423,825 14,999.777 72,159,383 24,273,986 14,253,548 16,832,316 1,942,134 13,907,053 12,620,104 15,176,070 Total current assets 225,983,190 238,507,953 Noncurrent Assets Notes receivable Estimated third-party payor settlements receivable Equity interest in joint venture Restricted investments Capital assets, net of accumulated depreciation Long-term investments Board-designated investments Other long-term assets Total noncurrent assets 30,389,348 5,200,003 2,015,033 19,051,732 648,251,923 363,186,193 7,000,000 1,315,657 15,432,000 2,780,383 1,961,633 50,887,939 608,215,355 280,266,904 16,400,000 1,614,354 1,076,409,889 977,558,568 Total assets 1,302,393,079 1,216,066,521 9,984,737 22,816,240 Deferred Outflows of Resources Deferred outflows of resources related to pension benefits Deferred outflows of resources related to other postemployment benefits Deferred outflow - acquisitions Loss on refunding of debt 491,682 71,667 15,931,093 1,598,213 157,667 18,325,048 Total deferred outflows of resources 26,479,179 42,897,168 Total assets and deferred outflows of resources $ 1,328,872,258 $ 1,258,963,689
