Comparative Studies

One of the most serious problems facing all veterans today is the lack of proper healthcare. Soldiers, sailors and airmen are leaving active duty without having proper healthcare to cover their physical or mental injuries. The department responsible for veteran’s healthcare is the Department of Veterans Affairs. (VA) According to The department of Veterans Affairs website, “The United States Department of Veterans Affairs (VA) is a government-run military veteran benefit system with Cabinet-level status. It is responsible for administering programs of veterans’ benefits for veterans, their families, and survivors. The benefits provided include disability compensation, pension, education, home loans, life insurance, vocational rehabilitation, survivors’ benefits, medical benefits and burial benefits. It is administered by the United States Secretary of Veterans Affairs.” The VA, who was formerly called the Veterans Administration, was established 21 July 1930, to consolidate and coordinate government activities affecting war veterans. The VA encompassed the functions of the former U.S. Veterans ' Bureau, the Bureau of Pensions of the Interior Department and the National Home for Disabled Volunteer Soldiers. On 25 October 1988, President Ronald Reagan signed legislation creating a new federal Cabinet-level Department of Veterans Affairs to replace the Veterans Administration effective 15 March 1989 (V.A.)

How do you see the various aspects of financial management as a whole for a healthcare organization? For example, how does one’s perspective influence decision making or how does the financial management relate to the organizational mission?

The federal and state governments are the largest supporters of health care services in the United States. Examples of support that our government provides include assisting those who are in need of health care with numerous options such as Medicare and Medicaid, the

One of the most serious problems facing all veterans today is the lack of proper healthcare. Soldiers, sailors and airmen are leaving active duty without having proper healthcare to cover their physical or mental injuries. The department responsible for veteran’s healthcare is the Department of Veterans Affairs. (VA) According to The department of Veterans Affairs website, “The United States Department of Veterans Affairs (VA) is a government-run military veteran benefit system with Cabinet-level status. It is responsible for administering programs of veterans’ benefits for veterans, their families, and survivors. The benefits provided include disability compensation, pension, education, home loans, life insurance, vocational

Nonprofit hospitals have become a common characteristic of the hospital sector because they can be found across the country because of their presence in almost every corner, they never decline to provide treatment, and offer several community-based health programs. On the contrary, the for-profit health facilities are regarded as the corporate model of health care services as they seek to make profit first. They enjoy huge capital that enables them to develop state-of-the-art facilities and purchase the latest clinical technologies.

Examine the financial characteristics of health care delivery along with managing costs, revenues, and human resources

The VA (Veterans Affair) Health Care System is one of the largest, most advanced health care networks in the U.S. The VA Health Care System is the provider for veterans, retirees and their dependents and manages all their health care. The VA Health Care is actually one part of the Department of Veterans Affairs. There is also VA Benefits Administration which has to do with compensations and pensions. Then the other part of the VA is the National Cemetery Administration which is in charge of the cemeteries and providing burial and memorial benefits. All these parts make up the Department of Veterans Affairs. (VA History)

Both market-based and government-financed health care systems strive to manage overall health care costs. The difference lies in the way they approach the task. Market-based health care relies primarily on the force of companies competing against each other to bring the best new products to customers. Customers make their choices based on many variables such as quality, convenience and service, not just cost. Most

The debate over non-profit versus for-profit healthcare organization has been ongoing, does one provide better care than the other? Do the operations of for profit perform better than the non-profit organizations? Are the criticisms about for-profit organization validated and is there proof? The goal is to examine those questions as well as offer options to improve the financial and operational performance of non-profit and for-profit organizations criticisms.

For profit providers look at health care as a business, with a financial bottom line producing profits that can be distributed to shareholders. Supporters of for-profit health care say that increased competition can produce a more efficient, effective, less expensive health care system. Since the 1980s, for-profit health care facilities have proliferated, including national hospital chains, health plans,

The major difference between healthcare finance terminology and business finance terminology is that these terms focus on factors unique to the health services industry. For example, the provision of health services is dominated by not-for-profit or¬ganizations (such as ours), which are inherently different from investor-owned businesses. Also, the majority of payments made to health¬care providers for services are not made by patients—the consumers of the services—but rather by some third-party payer (e.g., a commercial insurance company or a government program). Even the purchase of health insurance is dominated by employers rather than by the individuals who receive the services. These terms emphasize ways in which the unique features of the health services industry affect financial decisions. The healthcare industry is a service industry. It is not in the business of manufacturing, say, widgets. Instead its essential business is the delivery of healthcare services. It may have inventories of medical supplies and drugs, but those inventories are necessary to service delivery, not to manufacturing functions. Because the business of healthcare is a service, this overview of key healthcare terminology will focus on the practice of financial management in the services industry.

The major objectives of healthcare financial management include: generating income (which is the most important) because it is the financial status of the organization. It is important to ensure that revenues are exceeding expenses. After assets are invested in, they are meant to be used. They must respond to regulations and be accredited to qualify for loans, reimbursements, etc. Facilitate relationships with third-party payers because they are the ones helping with the bills. The health organizations must also influence method and amount of payment to avoid overpaying, when faced with capitated prices or prospective payments. Monitoring physicians is important because they are at the forefront of everything, so management must make sure that physicians’ orders are consistent with patient needs. Lastly, protecting tax status involves for-profit organizations trying to reduce tax liabilities, while not-for-profit organizations try to protect their tax-exempt

Understanding the financial analysis of healthcare organizations is strategic to the organization by understanding their stand on the amount of revenue they gain, healthcare assets, and their financial goals. This paper will provide a comparison on the performance of financial analysis of several California Healthcare Organizations such as; Scripps Health, Palomar Health, Sharp Healthcare, and Tri-City Healthcare. The four healthcare organizations will be illustrated with an overview about what the organizations have been doing financially , where they have been growing financially, and what have they accomplished over the past year from examining their financial statement. As the nation’s healthcare model continues to evolve,

Though they are not entirely comprehensive tools, a great deal can be learned about a hospital or other healthcare organization for-profit or not-for-profit from an examination of their annual financial documents (Finkler & Ward, 2006). The balance sheet and statement of revenue and expense can both yield valuable clues even in the absence of other evidence about changes that might be occurring in the organization, a definition of the type and degree of certain problems that it might be facing, and potential opportunities for improvement in performance that might exist (Finkler & Ward, 2006). Comparing two or more years' worth of financial information yields even more valuable insights, tracking movement in the hospital or other organization's ability to finance its activities and thus continue providing services at the same level, quantity, and scope as current operation.

Just as importantly, the government funds and provides health care directly to many others who work or have previously worked for the federal government as well. Programs such as the “Defense Department” are for active-duty and retired personnel and their families that visit facilities owned by the government, using health care providers who work for the government. Nearly 7.8 million veterans out of the 25 million in the veteran population receive care directly from the Veterans Health Administration, a division of the Department of Veteran Affairs (VA). This care is also delivered in government owned facilities, by providers employed by the government. The Indian Health Service, which