Healthcare Financial Management Assessment #1: Understanding an Income Statement
You are an intern in a health care organization business office. Find an example of an income statement for a health care organization online and using the resources you have been provided under course content, please develop a briefing report responding to the following questions regarding the statement:
1. What is an income statement used for?
2. What are the key components of an income statement?
3. On your example of an income statement, is the organization making a profit or loss? How much is that profit or loss? Show the calculations.
4. On your example of an income statement, what is the "contribution margin"? Show the calculations.
5. What three financial indicators does a contribution margin help determine? How?
6. What is a break-even analysis? What is the break-even point for this organization? Show the calculations.
7. How does a break-even analysis vary between fee-for-service and capitated payments? Explain it using the income statement you chose. What are similarities and differences applicable to the Income statements in fee-for-service and capitated payment options?
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also include a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also Include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.