Public Health Care Practice A Private Healthcare Practice

The main goal of a privately healthcare practice is to generate profits from services rendered. Private health care practice’s sole purpose just like a business is to generate revenue while maintaining financial viability. Financial viability is determined after reviewing all pertinent financial documents. Financial viability and status is determined by reviewing the organization’s Balance Sheets, Statements of Operations, Statement of Changes in Net Assets, and Statements of Cash Flows. A private healthcare practice financial balance sheet record the organization’s present assets, liabilities, and net assets at the time of review. Revenue statements or statements of operations give a snapshot of the healthcare’s revenue and expenses during the reviewed financial period. Once the revenue statement documents are reviewed, changes in asset and use of equity can be determined by reviewing statements of changes in assets documents. Statements of changes in net assets, list the change in equity during a specific operational time or period of the healthcare organization (â€Å"Statements of Change in Net Assets,† cassfraser.ca, gabs.org, May 2007). Fund generation and fund use is shown in the statements of the healthcare organizations cash flow statements. Document review of an organization’s balance sheets, statements of operations, statement of changes in net assets, and statements of cash flows, will provide a view into a healthcare’s financial standing, financial organization, andShow MoreRelatedCost And Quality Of Healthcare1082 Words   |  5 PagesCost and Quality in Healthcare When it comes to improving healthcare, one must be focused not only on quality but also on cost. The question is then raised: Will higher cost result in higher quality care or will higher quality care help control costs? It is no secret that healthcare is incredibly expensive in the United States. 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