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Under Lennon Hospital's rate structure, it earned patient service revenue of S9 million fo the year ended December 31, 2013. However, Lennon did not
Under Lennon Hospital's rate structure, it earned patient service revenue of S9 million fo the year ended December 31, 2013. However, Lennon did not expect to collect this entirf amount because it deemed Sl.4 million to be charity care and estimated contractual adjustments to be $800,000. During 2013, Lennon purchased medical supplies from Harrison Medical Supply Company at a cost of $4,000. Harrison notified Lennon that it was donating the supplies to the hospital. At the end of 2013, Lennon had board-designated assets consisting of cash of $60,000 and investments of $800,000.
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