Prompt 4 - Gentiva Health Services - Essay Example

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Financial Analysis of Gentiva in 2011 and 2012 of submission Introduction The financial performance of a company determines its lifespan in the market. It is the quest of every company to cut down expenses and raise the level of revenue accruing from daily activities…
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Prompt 4 - Gentiva Health Services
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Download file to see previous pages This would ensure that the activities of the company remain profitable in both short-term and long-term basis. The company recorded a noticeable decrease in revenue in 2012. Previously, the company has made several acquisitions and dispositions. This is likely to have been one of the main attribute that led to this loss amidst other factors. This paper explores the financial trend in Gentiva for 2011 and 2012. Financial Performance In the past two years, Gentiva has experienced significance changes in its financial performance. This is largely dependent on the strategic changes that the organization has decided to implement. Considering the financial results of the 2011 and 2012 periods, the following analysis can be reached. The company registered a 6% decrease in revenue for the third quarter of 2012 compared to the same period 2011(from $449.7million to $424.4 million). The loss from continuing operations decreased tremendously from $15.82 per diluted share in 2011 to $0.02 in 2012 third quarter. The company recorded $19.1 million non-cash write-off in connection with a rebranding of its operations into one name. For the same period in 2011, the company registered a $643.3 million for a non-cash impairment of a failed test of its goodwill. The company sold 9 health branches and closed 25 home health branches as well as 9 hospice branches, all in different locations. This move was reached after a comprehensive structure analysis aimed at responding to challenging Medicare reimbursement rate environment. Moreover, the company closed four more home health branches in 2012. In response to these closures and sales, the financial results of the second quarter and the first six months decreased by approximately $22 million and $41million respectively in 2012 compared to the same period in 2011. Though, the first quarter of 2012 represented 182 (29 days in February 2012) working days compared to 181 working days in 2011, the company revenues went down significantly in 2012 (Gentiva Health Services Reports Third Quarter 2012 Results). The company has maintained a good cash balance for the year 2011 and 2012. Its total assets reduced due to the sale of the 34 branches in 2011 and 10 branches in 2012. It is evident from the revenues accrued in first six months of 2011 and 2012, that the company has instituted measures to manage its costs. The sale and closure of the various branches has enabled the company to significantly cut-down its expenditures. With the reduced expenditures, the company has moved ahead to make more acquisitions to counter the reduction in revenue arising from the closure of the hospice and health care branches that took place in 2011 and early 2012. Its ability to record capital gains and huge profits is also an indication that the business has been able to control its costs. Nevertheless, the health care reform is a forceful measure that may affect many health service providers, Gentiva included. Thus, it is not satisfactory to say that the company is able to totally manage its costs before the health care reform comes into force in 2014. Emerging Changes in 2011 And 2012 The Company received earnings amounting to approximately $5.9 million in the second quarter and recognized a receivable of about $0.5 million in 2012. In the second quarter of 2012, 8 home health branc ...Download file to see next pagesRead More
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