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It is important to understand how to read basic financial statements, starting with the balance sheet, when working in the health care management field. Assets, liabilities, and net worth are part of the language of finance (Baker, 2014). I chose to evaluate the balance sheet of Baptist South Florida, Inc. and Affiliates (BHSF). BHSF, a non-for-profit Florida corporation in Miami-Dade County, Florida, is the parent of a system of non-for-profit hospitals like Doctors Hospital, Homestead Hospital, South Miami Hospital, and other non-for-profit and for-profit corporations. This balance sheet provides the condensed financial statement as of June 30, 2014, and September 30, 2014, and the Interim Three and Nine-Month Periods ending June 30, 2014 and 2013. This balance sheet is particularly detailed and lists each and every type of asset, liabilities, net worth, revenues, etc. in a precise arrangement. In my opinion, I do not think there is a need for more details in this specific balance sheet.

This balance sheet gives all the useful information I need. Their assets include any and all economic resources that have expected future benefits to the corporation which include their current assets as well as their long term assets. BHSF liabilities and net assets are well defined consisting of any and all economic obligations, or debts payable to outsiders. They specify the exact amount owed creditors, including but not limited to Accounts Payable, Estimated Third-Party Payer Settlements, Current Maturities of Long-term Debt, Accrued Wages and Salaries, and numerous more. The Stockholders Equity, also known as Net Worth, very well reflects what BHSF and its affiliates are worth. This balance sheet also include the corporations Unrestricted Revenues, gains and other support. The expenses and revenues are well classified and properly distributed amongst all contributing affiliates.

Design/detail wise, I do not find that this balance sheet need any form of improvement. However, every balance sheet can use improvement in regards to increasing their assets and lessening their liabilities. Presented on the companys balance sheet, equity may be increased by deliberate actions such as a company layoff, budget restrictions and a price increase, or it may result from higher than budgeted net earnings for a companys fiscal year (Helstrom, 2016). Reducing employee costs can help improve a corporation balance sheet by reducing employee hours, eliminating overtime, or suspending employee-sponsored benefits for a period of time, if possible. Reducing manufacturing costs can also help improve the balance sheet by using lower-cost materials as well as refining production efficiency. Increasing Shareholders capital by issuing new shares of preferred and common stock to investors can be a big contribution in efforts to improve the balance sheet.

References

Baker, J. J. (2014). Health Care Finance . Michael Brown .

Helstrom, K. (2016). Ways to Increase Equity on a Balance Sheet. Small Business .