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HCM 641 Final Examination Page 1 of 4

HCM 641 Final Examination Page 1 of 4


Fall 2021 – Final Examination ONLIN-HCM-641-B02 – Health Care Finance and Reimbursement Professor Michael Burghardt Instructions


• The examination will be graded based on 100 points, although the examination is worth 15% of your total grade for the course.


• No late examinations will be accepted without permission from Professor Burghardt.


• All answers must be typed and doubled spaced. You must leave a 1-inch margin at the left and right side of your pages. You may not use a font larger than 12 points. You must include page numbers of text material.


• You must cite all material used (except class PowerPoint material), using the APA method.


• You must type the question you are answering before you answer the question.


• You must clearly identify the parts of each question you are answering.


• Every examination is an English examination; grammar, spelling and sentence structure will be included in the grading of your answers.


• You must write in complete sentences. You should not use colloquialisms (i.e., ain’t and gonna).


• You must use clear examples to show that you understand the question and the answer. All examples must be health care examples.


• You must explain terms being used.


If you do not follow the above instructions, your grade will be reduced proportionately.


HCM 641 Final Examination Page 2 of 4


Class: HCM 641 – Health Care Finance and Reimbursement


Final Examination




Total Points 100


Points Lost


Question 1 Conduct a financial and operations analysis using the Harris Memorial Hospital financial statements and information provided in the dashboard for Harris Memorial Hospital. You must include information provided regarding its nearest competitor, Eastside Medical Center and U.S. Medians. You must address at least 10 of the following 13 Critical Performance Drivers:


A. Market Factors


B. Pricing


C. Coding


D. Contract Negotiation


E. Overall Cost


F. Labor Costs


G. Departmental Costs


H. Supply and Drug Costs


I. Service Intensity


J. Non-operating Income


K. Investment Efficiency


L. Plant Obsolescence


M. Capital Position


For each Critical Performance Driver that you choose to analyze, do not leave out any of the Data Elements under that performance driver in Table 11-1!




Question 2


Discuss conclusions relating to the above analysis and recommendations to improve the financial performance of the facility.




Harris Memorial Hospital


Harris Memorial Hospital is a 430-bed facility. It has one primary competitor, Eastside Healthcare, a 170- bed facility. Harris Memorial Hospital is in Jersey, Ohio. The facility owns and operates the Renee Center, which has 27 skilled nursing beds. During 20X7, Harris opened a continuing care hospital with 92 beds.


HCM 641 Final Examination Page 3 of 4


Memorial Hospital and Harris Community Foundation Combined Balance Sheet (in thousands)


December 31, 20X7


December 31, 20X6




Current Assets


Cash and Cash Equivalents $82,815 $59,696


Assets Limited as to Use, Current Position


5,327 5,088


Accounts Receivable


Patients, Less Allowance for Doubtful Accounts ($25,302 In 20X7 and $23,014 in 20X6)


70,025 59,939


Other 28,990 24,995


Supplies 7,078 6,663


Total Current Assets 194,235 156,381


Assets Limited as to Use


For Donor Restricted Purposes 84,440 67,826


Board Designated for Specific Purposes


382,835 378,4 13


Held by Trustees Under Bond Agreements


51,038 25,937


518,313 472,176


Less Current Portion 5,327 5,088


512,986 467,088


Property and Equipment, Net 563,349 458,829


Other Assets 34,476 34,302


Total Assets $1,305,046 $1,116,600


Liabilities and Net Assets


Current Liabilities


Accounts Payable $32,572 $24,631


Accrued Expenses and Other Liabilities


58,878 53,725


Due to Third-Party Payers 7380 12,633


Current Maturities of Long-term Debt


4,692 5,908


Total Current Liabilities 103,522 96,897


Long-Term Debt, Less Current Maturities


439,597 332,354


Contingent Professional Liabilities


33,260 48,487


Due to Broker 15,128 19,608


Other Liabilities 20,713 5298


Post-Retirement Benefit Obligation, Other Than Pensions


8,207 7,694


Total Liabilities 620,427 510,338


Net Assets


Unrestricted 600,179 538,436


Temporarily Restricted 55,213 40,393


Permanently Restricted 29,227 27,433


Total Net Assets 684,619 606,262


Total Liabilities and Net Assets


$1,305,046 $1,116,600


HCM 641 Final Examination Page 4 of 4


Harris Memorial Hospital Combined Statements of Operations (in thousands)


December 31, 20X7


December 31, 20X6


Unrestricted Revenues and Other Support


Net Patient Service Revenue $829,005 $774,662


Other Operating Revenue 27,055 29,334


Total Operating Revenue 856,060 803,996


Operating Expenses


Salaries and Wages $371,429 $329,668


Employee Benefits 81,532 77,231


Supplies and Purchased Services 228,244 225,497


Advertising 3,072 2,376


Staff Enrichment 10,767 8,591


Occupancy Cost 14,346 13,442


Depreciation 44,392 41,627


Interest 10,974 6,145


Provision for Bad Debts 55,851 57,975


Operating Expenses 820,627 762,552


Excess of Revenue Over Expenses 35,433 41,444


Non-Operating Gains (Losses)


Contributions, Gifts, And Bequests 3,189 1,318


Net Assets Released from Restrictions for Research Expenditures


14,070 14,574


Research, Education and Other Non- Operating Expenses


(22,980) (24,773)


Change in Interest Rate Swap Value and Put Agreements


1,578 9,397


Investment Income 30,453 18,402


26,310 18,818


Excess of Revenues and Gains Over Expenses and Losses


$61,743 $60,262


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