Analyzing Financial Statement Analysis Essay

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Financial statements are essential in measuring and assessing the real financial strength and position of a company. These financial statements provide quantifiable data for reports and help an individual to obtain an understanding of a company's forthcoming forecasts and risks (Weygandt et al., 2008). The purpose of this paper is to review the financial statement of Doctors Hospital in the two years 2013 and 2014 and analyze these financial statements and its financial well-being. In addition, the paper will outline the role played by advanced practice nurses in the financial welfare of the organization.

Implications of Economics for Advance Practice Nurses. The Role of the Advance Practice Nurses in the Financial Wellbeing of Healthcare Organizations

In general, very minimal studies have been undertaken in the United States regarding cost effectiveness and economic impact of primary care delivered by advanced practice nurses. Results from different research studies indicate that, on the basis of insurance claims that made comparisons between costs incurred on physicians against those of advanced nurse practitioners and the efficacy of retail clinics, lower costs are linked with primary care rendered by APNs (Naylor and Kurtzman, 2010). According to Hughes and O'Grady (2008), the prompt advancement and success of the advanced practice nurses movement has been well-defined as an unsettling innovation. This is owing to the fact that advanced practice nurses, in several forms and manners, render similar healthcare or even better healthcare compared to physicians, at a cost that is lower in a setting that is more convenient (Hughes and O'Grady, 2008).

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More so, advanced practice nurses generate quality and patient safety, better clinical performance and more satisfactory patient outcomes. Completely incorporating the contributions and expertise of all primary care practitioners and, precisely, the contributions of nurse practitioners is a significant guiding principle in the direction of attaining high-value health care (Naylor and Kurtzman, 2010).

Advanced Practice Nurses (APNs) play a significant role within the organization. The APNs have attained the level of tutelage, training, and expertise to carry out several of the primary-care responsibilities executed by physicians. APNs play a significant role in the financial well-being of the health care organization. This is owing to the fact that the patients obtain primary care from APNs with lower expenses and increase the level of satisfaction of the patients. The implication of this is that the health care organization benefits from the decreased expenses by having APNs provide primary care to patients compared to physicians. More so, the increase in patient satisfaction infers to the return of patients and also increase in outpatient and inpatient patients for the healthcare organization, resulting in greater revenue generated and profit attained (Nursing World, 2012).

The Significance of Financial Statements

The financial activities of any organization's business operations and dealings are reported in three basic financial statements. These statements include: income statement, balance sheet, and cash flow statements. To start with, the income statement is also referred to as the profit and loss statement and has great significance to the financial welfare and standing of an organization (Baker and.....

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https://www.aceyourpaper.com/essays/analyzing-financial-statement-analysis-2157500
   

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