Please boost your Plan to download papers
writting health care paper - Essay Example
Today we are living in a market driven economy. The competition has made its mark not only in sectors like auto, consumer goods, retail etc. but it is also true for services like insurance and healthcare…
Looking at the financial statement and the type of assets the MCMPC owns gives an impression is MCMPC is in need of further strengthening its finances in order to take on the competitors. The key features are;
• No long-term debt, that implies company can better exercise its options in expansion and diversification.
• MCMPC used its financial resources to open a new department, used one million to set up the cardiology department
• Over the last 20 years MCMPC has seen consistent growth and its revenues reached $22 million in 2007 with good profit margins.
• Despite operating for the last 20 years, the organization is not yet large enough, and has its presence at limited locations only.
• Company scores poorly on the management of HR. For quite some time, company is not able to recruit specialists and subspecialist because while some are associated with competitor company Innovative hospital or there are some who are not impressed by the leadership skills of Dr. Balko.
• Since the year 2008, the balance sheet of the company is in red, with projections for 2010 also pointing towards a loss.
• MCMPC had to use cash to setup cardiology department, which in turn resulted in poor showing on financial figures and ratios. The current ratio was the only part of the statement that was above standard ...