Please do you have solutions to the following. See the attached document.

You have been given the Statement of Revenues, Expenses, and Changes in Net Position from Sarasota County Public Hospital for years 2019 and 2018 including financial notes and other hospital data. (Refer to link under required readings in week 2 weekly materials or in the assignment section). Make sure to look at the entire document prior to doing your calculations. Review the statement and answer the following questions.

Make sure to show your work!

1. What are the gross patient charges for both years? (2)
2. The 2019 gross patient service revenue was __________

1. The 2018 gross patient service revenue was __________

2. Explain the difference between the two terms: contractual adjustments and provision for bad debt. Do not give a numerical answer.(4)

3 a. What percentage of gross patient charges are written off via contractual adjustments for each of the years? (2)

The 2019 contractual adjustment percentage was __________

The 2018 contractual adjustment percentage was __________

b. If the national average percentage is 60%, what strategies (more than one) can Sarasota put into place to improve the adjustments that they have to absorb? (6)

4. What percentage does the provision for bad debts account for based on the gross patient charges for each of the years? (2)

The 2019 bad debt percentage was __________

The 2018 bad debt percentage was __________

5. Compare Sarasota County Hospital District's bad debt percentage for 2019 to the AHD national average for 2018 (Refer to link under required readings in week 2 weekly materials or in the assignment section. NOTE: It is hard to see, but in the table, each of the percentages has two decimal places).

Sarasota is a not for profit hospital that is a member of a multi-hospital system. It has 839 beds and is a high volume hospital. When making your comparison, make sure to evaluate Sarasota in the following 4 categories: system, type of control, volume, and bed size.

a. How does Sarasota compare with the rest of the country in the above four categories? For example, if a hospital was a governmental hospital (type of control) and their bad debt percentage was 3%, they would be doing better than the rest of the country since the bad debt percentage for governmental hospitals in 2018 was 3.23%. (4)

b. What strategies could Sarasota implement to bring their percentage in line with the rest of the country? (more than one is required) (6)

6. What percentage of total operating expenses do salaries, wages and fringe benefits account for each year? (2)

The 2019 salaries, wages and fringe benefits percentage was __________

The 2018 salaries, wages and fringe benefits percentage was __________

7. The "excess of revenues over expenses" represents either the profit or loss for the institution. What would be the profit or loss per admission (not adjusted admissions) for Sarasota in 2019 and 2018. (2)

2019 ________________

2018 _________________

8. Sarasota is planning on opening another hospital in the community. It will be have 90 acute care beds, 20 observation beds and a 28 bed emergency care center. How will the opening of another institution affect the financial position of the existing facility, in terms of revenues and expenses and in contract negotiations. Comment on one other student's post. (20)