Universal Health Services Inc (UHS)
Deliverable Three: Connecting Theory to Practice – Contemporary Risk Analysis
The main goal of deliverable three is to apply abstract accounting theory accounting information learned in the textbook to practice in a real-world setting real-life concrete events. Deliverable Three is an extension of Deliverable Two.
Deliverable Three Objectives:
1. Examine risk factors for your hospital corporation in light of current events i.e. the COVID crisis.
2. Research and identify sources of information regarding risks in the course of a pandemic or other emergency.
3. Compare the risk factors discussed in the financial statements to risk factors identified from your research. Universal Health Services Inc (UHS) 10-K Form.
4. Perform research to determine how your target company is dealing with these risks in the current atmosphere.
5. Identify and recommend changes in revenue/cost structures and how it would impact any ratio developed in a deliverable one. (Excell upload file)
6. Demonstrate good grammar, formatting, and organization.
Requirement #2: Familiarize yourself with risks to a hospital during a crisis
There are many resources on the internet that discuss emergency preparedness for hospitals in different types of emergencies, including pandemics. When Googling consider the terms ‘disaster preparedness’ or ‘emergency management’. These resources are in three different forms. You must differentiate the type of site you are looking at. These are:
1. Requirements and mandates of government g agencies such as: state departments of health, CDC etc.
2. Industry associations that provide accreditation such as JCAHO
3. Other agencies whose standards are advisory only yet still important.
Requirement #3: – Determine how your hospital corporation deals with their disaster plans
You will then need to determine how your hospital corporation deals with these preparedness issues. Look at statements they make on their website, filings they may have to make with their state licensing agency or other agencies. Also, look at websites that collect consumer information about the hospitals such as Healthgrades or Yelp. If your corporation has numerous hospitals look at the ratings for two or three hospitals, at least. As an example: are their complaints that staff are not wearing masks, that screenings when entering a hospital are lax.
Try to find items about your target company, or some of the hospitals they operate, in the news media or on social media, that discuss how the company, or some of their hospitals, fared during the height of the COVID crisis.
Requirement #4: Short Essay Questions
Please answer the following short essay questions:
1. Based on your research of disaster preparedness for hospitals what are the three or four items that you consider most important and why?
2. Based on your research about your target company how do their disaster plans meet the standards that you have learned about?
3. Based on your research about your target company and their hospitals, how did they manage during COVID? Did they meet their expectations or standards that were set by the various agencies? Explain.
4. What can your target company do to adjust its policies and practices going forward?
5. What changes, if any, should the various agencies make to their disaster preparedness recommendations/requirements going forward? Explain
Requirement #5: Upload Document
You should target approximately one to two paragraphs for each required item. Grammar, Formatting and Organization is a skill which should be demonstrated by accountants for all work. Therefore, it is part of the grade. Only Word and Excel files will be accepted. Do not upload or any other type of file.