李沛烈,笔记本小键盘怎么关,翟鸿深
| 引言： 财务管理是关于资金预算、财政发展，分析财政预算所存在的风险，资金成本的一门技术。同时，财务管理也涉及到金融市场这个话题,讨论了投资组合多元化主体和简单资产定价模型。它检验了一个公司资本整合和股利策略是否最优化的模型与建议。 随着人口数量和人们对健康关注度的增加，医疗卫生与保健事业与人类的健康发展直接相关。这项事业也已蓬勃发展。在许多先进国家，医疗卫生与保健事业是国内规模最大行业之一，消费总量超过国民生产总值的十分之一。这项事业是为患者提供所需求的康复、预防和舒适的产品或服务。当代的医疗卫生与保健事业可以被分为许多子部门。每个部门的投资以及成熟度也取决于国家的经济状况。像美国这样的国家，医疗卫生与保健事业发展很成熟并吸引了大量的投资。为了给人们提供服务，科技也在迅速发展来寻找对抗疾病的新疗法。但是有一些资源，技术和能力被一家公司所拥有，而其它的公司则缺乏。在这样的情况下，企业并购和合作则可能很好的帮助最大程度地利用这些稀缺的资源使公司更好地运作。 Financial Management is about the techniques for capital budgeting, developing and analyzing effective role of risk in capital budgeting, and the cost of capital. Also Financial Management introduces the subject of financial markets, discussing portfolio diversification principal to simple asset pricing models. It examines models and suggestion relating to a firm’s optimum capital assembly and appropriate dividend strategy. The medical or health care industry is connected directly to the well-being of mankind hence with the growth of population and health concerns; the industry has grown as well. It is one of the largest industries and consumes over 10% of GDP of many advanced nations. This industry is supposed to offer goods and services required for the treatment of patients with healing, prevention and comfort. The contemporary health care industry can be sub grouped into many sectors. The investment in the sector and sophistication depends upon the economy of the country. In countries like USA, the healthcare industry is developed and attracts huge investments. Technology is heavily deployed to find new cures and treatments for the diseases and to serve mankind. Yet there are a few resources, skills or abilities that are possessed by one firm and lacked by another. Mergers and acquisitions as well as joint ventures may help a lot in such cases to fully take benefit of scarce resources and to operate even better. 美国的医疗卫生与保健——U.S.A Health Care Government programs openly cover 27.8% of the population, with the elderly, disabled, children, veterans, and some of the deprived and federal law orders public access to emergency services regardless of aptitude to pay. Public spending financial records for around 45% and 56.1% of U.S. health care expenditure. Per-capita spending on health care by the U.S. placed it amongst the top ten highest financiers among United Nations member nations in 2004. The absolution of employer-sponsored health benefits from central income and payroll taxes distorts the health care market. The U.S. government, unlike certain other countries, does not treat employer funded health care benefits as a taxable assistance in kind to the employee. The value of the lost tax revenue from welfares in kind tax is an appraised $150 billion a year. Some look this as being disadvantageous to people who have to buy insurance in the individual market which must be paid from income conventional after tax. Health insurance assistances are an attractive way for employers to increase the salary of employees as they are nontaxable. As a consequence, 65% of the non-elderly population and over 90% of the privately insured non-elderly population receives health insurance at the office. Moreover, most economists approve that this tax shelter increases individual demand for health insurance, leading some to claim that it is largely accountable for the rise in health care expenditure. Furthermore the government permits full tax shelter at the highest peripheral rate to investors in health savings accounts. Some have claimed that this tax inducement adds little value to national health care as a whole because the wealthiest in society tend also to be the healthiest. Also it has been argued, HSAs separate the insurance pools into those for the rich and those for the less wealthy which thereby makes equivalent insurance cheaper for the rich and more luxurious for the deprived. Though, one benefit of health insurance accounts is that funds can only be used towards certain HSA qualified expenses, plus medicine, doctor's fees, and Medicare Parts A and B. Funds cannot be used to expenses such as ornamental surgery. There are also numerous state and local programs for the poor. In 2007, Medicaid delivered health care coverage for 39.6 million low-income Americans and Medicare provided health care exposure for 41.4 million aging and disabled Americans. Enrollment in Medicare is expected to reach 77 million by 2031, when the baby boom generation is fully registered. It has been testified that the number of physicians compliant Medicaid has decreased in recent years due to relatively high managerial costs and low reimbursements. In 1997, the federal administration also created the State Children's Health Insurance Program a joint federal-state program to insure children in families that earn too much to qualify for Medicaid but cannot afford health insurance. SCHIP covered 6.6 million children in 2006, but the package is already facing funding shortfalls in many states. The administration has also mandated access to emergency care regardless of insurance position and ability to pay via the Emergency Medical Treatment and Labor Act passed in 1986, but EMTALA is an unfunded mandate. 保健业的财务管理——Health Financial Management Financial management is equally important in healthcare sector as in any other sector of the economy. There is importance of balanced scorecard, updated financial statements and skills of managerial accounting especially when analyzing merger options. The main points to keep in mind while managing financials at healthcare sector are: Not only monitor financial information to interpret and use for planning rather effectively manage and make decisions for the health care business. Effectively evaluate and communicate the strategic objectives of the health care business with team so that it becomes easier to evaluate other organizations for merger purpose. Implement management accounting methods to allow weigh the impact of alternative situations and better control conclusions. Recognize when and how to advance y financial status. Advance a dependable method for defining and allocating the actual costs of services Appreciate the economic spurs rooted in different pricing strategies and realize the value of revenue phase management Analyze the influence of advances in process flow, efficiency and other developments to make the most of efficiencies in employment use. 合并分析——Merger Analysis It is agreed that a fastest way to grow business in modern world is to enter a merger at a right time with a right business. Before entering a merger, the management should analyze the inside out of a business that has some complementary benefits for them. For example, a dental business can merge with a business that specializes in bone related diseases and conducts researches on same parameters that are researched by the dental surgeons. Hence such a merger will help reduce heavy costs incurred on the research on same area. 合并过程——The Merger Process Formation of a databank of past financial records. Examination of the past financial performance. Producing projected financial data on the basis of current assumptions. Healthcare business's market value estimation. Choice of securing price, assembly and terms. Developing anticipated financial statements having purchase price and terms of funding. Evaluation of the probable earnings plus analyzing returns to stockholders. When two big healthcare companies plan to merge, they manage the medicine drug coverage that health insurance businesses offer to large groups like corporations and unions (Glied, 2008). The businesses say the merger will help them control health care prices for consumers. The merger though is not only to facilitate consumers and it may be intended to save costs. The patents can be arranged to create monopoly in the market. 挑选健康产业——Selected Healthcare Business Two healthcare American businesses are selected to be analyzed for entering into the merger. First one is Invisalign which is business of dental surgery and the other is Alphatec Spine deals with bone related diseases especially the spine bones. The following section briefly overviews the two businesses. Company A: Invisalign The Invisalign provide services to general practitioner dentists and orthodontists. It delivers training, medical education, and tools required for orthodontists or dentists to accept its groundbreaking technology and provide treatment. |
