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Bsbwor501 Assignment 2

Satisfactory Essays

Writing Assignment #2
The future is based on the decisions that managers make in the present, based off of the data from the past. Managers need to not only be able to analyze large patterns in data, but also be able to understand the underlying data that comprises these patterns. One of the areas that this skill is needed most is the analysis of costs and expenses. While trends show the overall picture, it’s vital to comprehend the trends and data that are joined to form the picture. Without this, managers would be ineffective and most plans for the future would be deeply flawed. Careful analysis of each component of the whole reveals more in depth information, and a higher quality of understanding.
The first part of the data that jumps out is the stark difference between not only daily expenses, but also ambulatory expenses, inpatient expenses and outpatient expenses. For all three categories, rural hospitals experienced a sharp decline in expenses over the period …show more content…

However, only in the area of outpatient and inpatient expenses did every size hospital experience an increase in costs. While medium and large hospitals shared an increase in expense in daily and ambulatory expenses, small hospitals experienced a surprising decline in expenses related to those two fields. All of the data on small hospitals in rural areas shows sharp decreases from 2010 to 2011. Startlingly, the same cannot be said for small urban hospitals. The daily and ambulatory expenses decreased, the same as rural hospitals. Yet small urban hospitals experienced a growth in outpatient and inpatient expenses from 2010 to 2011. Therefore, it is logical for outpatient and inpatient expenses to increase overall, because while some subcategories that contribute to the total showed decreases, further analysis of those subcategories show only one decrease in inpatient and outpatient

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