Ascension is a non-profit Health Alliance Corporation founded in Missouri State in September 2011, a faith-based healthcare organization managed by the United States Catholic health care system. The hospital is dedicated to transformation through innovation across the field of healthcare. Since its development, the non-profit healthcare organization has expanded to 24 other states and the Colombia district ( Ascension Health Alliance, 2016 ). This healthcare organization primarily consists of non-profit corporations owned and operated by ministry markets and local healthcare facilities.
Hospitals Corporation of America (HCA) is a profit-based healthcare corporation. HCA was founded in 1968 and is based in Nashville, Tennessee ( HCA Holdings INC, 2016 ). Currently, HCA owns and operates 186 hospitals and more than 2,000 care sites, including physician clinics, free-standing emergency rooms, and surgery centers in U.S 21 states and U.K.
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On reviewing the financial statement for Hospitals Corporation of America and Ascension non-profit Healthcare Corporation, there are several similarities and differences in the two corporations' financial statements. The similarities were based on the cash flow statement, income statement, and balance sheets.
Ascension Health and Hospital Corporation of America Similarities
Both HCA and Ascension Health recorded their net cash from financing, investing, operating, and cash equivalents. For instance, HCA recorded (Financing= $-2,500,000; Investing=$-2,300,000; Operating= $5,600,000; Cash Equivalents= $-94,000) ( HCA Holdings INC, 2016 ). Ascension Health recorded (Financing= $741,000; Investing=$1,500,000; Operating= $732,000; Cash Equivalents= $696,000).
Both Ascension Health and HCA displayed their total and current liabilities. HCA displayed (Current Liabilities=$5,900,000; Total Liabilities=$41,060,000). Ascension Health displayed (Current Liabilities=$5,400,000; Total Liabilities=$14,301,000).
Both HCA and Ascension healthcare corporations are the country's biggest for-profit and not for profits healthcare organizations.
Both HCA and Ascension Health included the losses they are incurring on their income statements.
The other outstanding similarity between HCA and Ascension Healthcare is that both companies ad a total revenue of more than 20 million dollars.
Both HCA and Ascension health had consolidated financial statements, meaning that both organizations control at least one other firm but not fully.
To get the Net Revenue, both HCA and Ascension Health reduced the revenue by the provision for bad debts.
Ascension Health and Hospital Corporation of America Differences
From the balance sheets, it is evident that Ascension Health included their long term investments. On the other hand, HCA Holding did not include their long term financial statement on its balance sheet.
Ascension Health included their short-term investment, whereas HCA included their receivable incomes only.
On the three financial statements (cash equivalent, financing, and investing), HCA holding had negative whereas, Ascension Health had no negatives on the three financial statements.
Ascension provides more information on their cash flow statement, especially on what they received and spent. On the other hand, HCA Holding does not provide in-depth information about their cash flow statement.
The other outstanding difference between HCA and Ascension is that Ascension includes decreasing net assets on their cash flow statement. HCA holding does not include the decrease in assets on their cash flow statement.
Ascension Health and Hospital Corporation of America Similarities at Investors and Community Relations
Both HCA and Ascension organizations show financial data type.
Both HCA and Ascension are trying to innovate a startup plan.
Both Ascension and HCA have a consolidated financial statement.
Both healthcare organizations include long term investment and debts.
Ascension Health and Hospital Corporation of America Differences at Investors and Community Relation
Whereas HCA Holding includes net equipment and property in their assets, Ascension does not include their equipment and property in the assets.
Ascension health includes income from recurring operations, total assets, and total operating revenue. HCA holding does not.
The cash flow statement and balance sheet are shown in HCA's data. Ascension's data does not show the cash flow statement and balance sheet.
HCA does not include system statistics, whereas Ascension health includes system statistics.
HCA does not include outpatient visits, total discharge, and the total number of available beds. On the other hand, Ascension Health includes the number of discharged patients, outpatient visits, and available beds.
References
Ascension Health Alliance. (2016). Consolidated Financial Statements and Supplementary Information. Retrieved from 16092044067 Ascension Consolidated FS_2016_15_Credit Group_ FINAL.pdf
HCA Holdings INC, (2016). Consolidated Income Statements
Watch Market. (2017). HCA Healthcare INC. Retrieved from http://www.marketwatch.com
