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During its current fiscal year, Evanston General Hospital, a not-for-profit health care organization, had the following revenue-related transactions (amounts summarized for the year). Services provided
During its current fiscal year, Evanston General Hospital, a not-for-profit health care organization, had the following revenue-related transactions (amounts summarized for the year).
- Services provided to inpatients and outpatients amounted to $9,672,000, of which $456,000 was for charity care; $934,000 was paid by uninsured patients; and $8,282,000 was billed to Medicare, Medicaid, and insurance companies.
- Donated pharmaceuticals and medical supplies valued at $271,000 were received and utilized as general expenses.
- Medicare, Medicaid, and third-party payors (insurance companies) approved and paid $5,371,000 of the $8,282,000 billed by the hospital during the year (see transaction 1).
- An unconditional contribution of $5,060,000 was received in cash from a donor to construct a new facility for care of Alzheimer's patients. The full amount is expendable for that purpose. No activity occurred on this project during the current year.
- A total of $1,043,000 was received from the following activities/sources: cafeteria and gift shop sales, $770,000; medical seminars, $131,000; unrestricted transfers from the Evanston General Hospital Foundation, $81,000; and fees for medical transcripts, $61,000.
- The implicit price concessions increased by $4,170.
Required
- Prepare the revenues, gains, and other support without donor restrictions section of Evanston General Hospitals statement of operations for the current year.
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