financial environment

Topics: Non-profit organization, Non-governmental organization, Types of organization Pages: 3 (872 words) Published: February 23, 2014


Financial Environments

Financial Environments
The discussion of profit and not-for- profit organizations has been analyzed and discussed in essays and research papers for years. When you include government funded organizations into the mix this tends to bring about some very interesting discussions. There are similarities and differences among the three different environments. Some key identifiers that shed light into the similarities and differences include where the organizations get their money from, who makes financial decisions among such organizations, as well as who the key stakeholders are for each. Each entity has a purpose and make a true imprint in the healthcare environment. Not-for-profit organizations are typically organizations or entities that do not pay taxes and work for their communities and/or the public. Many organizations are formed based on a religion or even a particular charity. Not-for- profit healthcare organization reported that around 60% of hospitals in the United States are not-for-profit. (Alliance for Advancing Non Profit Health Care, n.d.) For-profit facilities are usually owned by private investors, or they are publicly owned by shareholders. Government hospitals or government funded hospitals are owned by the government. Services provided by these types of entities are usually free of charge and are covered by funding the facility receives. Examples of for-profit hospitals are Methodist Hospital in San Antonio, Park Plaza Hospital in Houston, and McAllen Medical Center also located in Texas. Three examples of not-for-profit hospitals include Baylor Health Care System in Dallas, Christus Health located in Irving, and Memorial Hermann Healthcare System in Houston. The University of Texas MD Anderson Cancer Center in Houston, University of California Davis Medical Center in Sacramento, and Memorial Regional Hospital located in Florida are all government funded facilities. “Around the world,...

References: Alliance for Advancing Non Profit Health Care. (n.d.). The Value of Nonprofit Health Care. Retrieved from http://www.nonprofithealthcare.org/reports/5_value.pdf
Finkler, S. A., & Ward, D. M. (2006). Accounting fundamentals for health care management. Sandbury, MA: Jones & Bartlett.
Keller, G. F. (2011). Comparing the affects of management practices on organizational performance between for-profit and not-for-profit corporations in southeast wisconsin. Journal of Management Policy and Practice, 12(5), 86-95.
Reinhardt, U. E. (2000). The economics of for-profit and not-for-profit hospitals. Health Affairs, 19(6), 178-86.
Singh, S. R., Wheeler, J., & Roden, K. (2012). Hospital financial management: What is the link between revenue cycle management, profitability, and not-for-profit hospitals ' ability to grow equity? Journal of Healthcare Management, 57(5), 325-39.
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