Question: I am needing help writing a response to the post. The hospital I have chosen to look into is the Mercy Hospital in Springfield, Missouri.

I am needing help writing a response to the post.

I am needing help writing a response to the post.
The hospital I have chosen to look into is the Mercy Hospital in Springfield, Missouri. The annual reports I'm looking at are only as recent as May 12th, of 2022. There is a compiled list of revenue sources split into percentages - it is very consistant that the source of Program Services (which includes patient care) is above 98% of the total revenue. Going all the way back to 2012, it is still above 98% of the total revenue. In 2022 the reported total revenue was $1,048,667,589 - with $1,032,307,033 in expenses and only $16,360,556 of net income. $397,247,295 in reported assets. 2021 had seen $1,115,699,805 in total revenue - with $950,350,792 in expenses and $165,349,013 in net income. The assets for this year is reported at $482,582,213. Between 2020 and 2021 there was an increase in total revenue by $109,022,447 whereas in 2022 it has dropped by -$67,032,216. It seems that throughout the last decade there has been a constant slight increase in total revenue all the way from $880,696,760 in 2011 to now. Looking through the reported data, these fluctuations have all been pretty recent, possibly due to the Covid 19 issue in 2020 that we are still recovering from medically and economically. I found a wonderful annual report for all of Mercy, not just the Springfield location, but it is only for 2017 and I can't seem to find a more recent one. This document goes more deeply into the revenue sources than the other report and lists the Net Patient Service Revenues for being 90% of the total revenue, but it does not go more in depth than that. I find it interesting that, despite hearing about many donations being made to Mercy and all of their hospitals, that the revenue made from these contributions seems to usually only account for less than 1% of the total revenue. Suozzo, A., & Glassford, A. (2013, May 9). Mercy Hospital springfield - nonprofit Explorer. ProPublica. https://projects.propublica.orgonprofits/organizations/440552485 Here is the 2017 Annual Report - the PDF came up on google: https./www.mercy.net/content/dam/mercy/en/pdf/2017-annual-report.pdf >

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Human Resource Management Questions!