Question

Search for a healthcare finance related article on the JCAHO. In a 3-5 page paper, describe how you can apply the financial concepts from the article to your current health care organization or a health care organization of your choice.

Answer 1

- The Joint Commission On Accreditation of Healthcare Organizations and Affiliates The joint commission on Accrediatration of Healthcare Organizations (The joint Commission) is a not-for-profit Organization that seeks to continuously improve healthcare for the public in collaboration with other stakeholders, by evaluating healthcare organizations and inspiring them to excel in providing safe and effective case of the highest quality and value. Together, annual accreditation subscription fees and on-site survey fees account for the largest portion of The Joint Commission's total revenue. Principles : The accompanying consolidated financial statements include the accounts of The Joint Commission and its wholly controlled affiliates Joint Commission Resources, Inc. (JCR and The Joint Commission center for Transforming Health care (The Center). JCR is a not-for- profit organization that was established for the purpose of independently assisting health care organizations, in the United States and in the international community to improve the safety and quality of their services :

Use of estimates - The preparation of consolidated financial statements in conformity with u.s. generally accepted accounting painciples gequires management to make estimates and assumptions that affect the Deported amounts of assets and liabilities o disclosure of contigent assets and liabilities at the date of the consolidated financial statements, and the Deported amounts of revenue and expenses during the reporting period. Actual results may differ from those estimates For purposes of reporting , all cash and investments with a maturity at the date of purchase of three months or less are considered cash and cash equivalents Restricted cash represents those amounts required to be to set aside by a contractual ago agreement of designated by management.

Recent Adopted Accounting Pronouncements The new standards had the following impact on the consolidated financial statements • The temporarily restricted and permanently restricted net asset classes have been combined into a single I net asset class called net assets with donor restrictions The unrestricted net asset class has been renamed net assets without donor restrictions The consolidated financial statements include a disclosure about liquidity and availability of resources and destricted cash and cash equivalents.

The Joint Commission counterparty at a fixed retoon received monthly of a LIBOR index : made monthly payments to a date of 4.88% and in payments based on 671. The Joint Commission has a noncontributoay account based defined - benefit pension plan that covers substantially all of its employees. The joint commission's funding policy is to contribute to the Pension Plan an annual amount necessary to meet or exceed the minimum funding standards under the Employee Retirement Income Security Act :