Comparative Summary
HCS/577
June 8, 2013
Destiny Chen
Stephanie Hildreth
Comparative Summary
In the health care industry there are different types program sector organizations, which has its own uniqueness. The different sectors of health care are divided amongst the for-profit, non-profit, and government organizations because they all have a common goal but the financial aspect is the same when it comes to providing care to patients. Within the three types of organization types, the financial need is collected and reported differently due to the organization common goal, financial environment and community outlook. In my research, to give a clearer picture I have chosen an organization that represents each health care sectors
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The owner of the organization distributes the profits that are received from this hospital. Park Plaza has an committee of investors, which are usually flow doctors who may invest choose to invest there portion in their private practices or just use the excess funds for an increase in their personal income. The primary objective of this for-profit organization is the collect revenue that makes profit. Park Plaza Hospital does no recognize charitable sources because to them the primary responsibility is that of the patient (Burns, 2012). The American Diabetes Association a not-for-profit organization structures is politically ran on donations from charities and local community organizations (American Diabetes Association). The donations that are received have to be accounted for and reported to the government (American Diabetes Association). The Department of Veterans Affairs a government organization structure is ran by the government and their rules (U.S Department of Veteran Affairs). The financial structure of government ran organization is largely affected because of the expense used to run the organization can drive up revenues (U.S Department of Veteran Affairs). The organization differences weighs big depending on the type of organization entity. Each and every organization type depicts the financial structure due to the needs of the organization.
Financial Uniqueness The in uniqueness
begins this writing from when she was eleven years old. Her mom and Granny were very
Christopher Columbus and Neil Armstrong were both explorers who captivated the world with their amazing explorations. Their paths shared many traits, though their discoveries were very different.
Hospitals should be encouraged to participate because improving hospital care is likely to be essential to success (McClellan et al, 2010). Accountable care organizations can be implemented through different payment models. These could include opportunities to share in demonstrated savings within a fee-for-service environment, in which providers took on no new financial risk. They could also include limited or substantial capitation arrangements, in which payments were unrelated to the volume of services provided, to the intensity of service use, or to the frequency of face-to-face meetings, and in which providers took on some financial risk for poor-quality results or failure to control costs (McClellan et al,
There are millions of healthcare organizations all throughout our country. Some of these organizations have a significantly greater financial background than others, but that depends on the size, location, and demand of the patient population. The organization that is going to be discussed is Yale New Haven, which is a large hospital in southeast Connecticut. Their most recent data dates back to the fiscal year of 2014 when the hospital saw a total of 1.2 million patients, bringing in revenue close to 3.5 billion dollars. In fact, Yale New Haven has made close to a billion dollars more in revenue compared to the year of 2012. Without the help of the 6,000 medical personnel and the 20,000 members of the staff, this large hospital would never be as successful as it is today (Yale New Haven Health, n.d.). As one can see, the hospital is growing each and every year supplying the overall demand of the patient population.
In order to understand financial statements better, two healthcare organizations, one for-profit and the other non-profit, will be selected and their financial statement will be reviewed. The first healthcare organization that was selected was Adeptus Health, Inc. (Adeptus), a for-profit entity. Adeptus was founded in 2002, and currently serves communities in Colorado, Texas, and Arizona, with partnerships within Ohio and Louisiana (Adeptus, 2016). The company was founded to improve services within the emergency room (ER) setting by offering the community eighty-one free standing ERs and two ER facilities within a fully licensed hospital, as of the end of 2015 (Adeptus, 2016). Adeptus boasts being one of the best companies to work for in Texas in 2016, and has won the Press Ganey Guardian of Excellence Award for three consecutive years, since 2013, which is awarded to ERs that exceed patient satisfaction over the ninety-five percentile across the country (Adeptus, 2016). The company aspires to provide high-quality care that is patient-centered while being cost effective and supportive to their staff.
Every healthcare organization in our country relies on financial and economic gains. In other words, without these two important factors, no healthcare facility would ever survive. For example, healthcare facilities rely on supplies, staff and the proper financial knowledge. In fact, the price and amount of healthcare supplies are rising, which in turn can increase the cost of healthcare (Kabene et al.). Therefore, in non-profits like Yale New Haven Hospital, it is important to have an adequate balance of supplies in order to allow the healthcare providers to practice efficiently. For instance, there needs to be enough supplies in order for the doctors to keep up with the high demand of incoming patients. When there is a rise in the demand of healthcare supplies such as shots, medication, vaccines etc., the more the market will produce, allowing more money to be made. The healthcare markets will be producing financial gains and so will the hospitals that are distributing these goods, which causes supply and demand to be at an all time high. Either way, without the availability of healthcare staff and supplies, the financial well being of any hospital would be non-existent and so would the healthcare market and that is why there is a strong relationship between the two.
“People can tell you to shut up, but they can’t keep you from having an opinion”- Anne Frank. These days children are oppressed, they are being taken against their will and being forced to work, they are having their opinions shot down because either they supposedly do not know what they are talking about or their opinion is highly frowned upon in their society. I Want to Live by Nina Lugovskaya and Iqbal by Francesco D’adamo are two eye-opening books that have many differences and similarities such as their Education and Adults.
Describe the main components and issues of the organization financing and delivery of healthcare systems.
It has been noted that an insured patient is good for business, whereas a non-insured patient is bad for business. By selecting an area of a community that has a high percentage of insured patients is where a for-profit organization can seek to be a successful organization, and be able to provide profits on return on investments to its owners (Andre, C., & Velasquez, M., n.d.).
Public administrators use many communication genres to reach their audiences. These genres range from business cards to governmental proposals. Each one has its own purpose. Each one has its own way of getting information to the audience quickly and efficiently. Each one has been affected by technology. Each has its own discourse conventions associated with it. And each has its own method of distribution—either external or internal. The purpose of this analysis is to compare
Among hospital attributes from the AHA Annual Survey, this study controlled for hospital ownership, teaching status, and system/network affiliation. The AHA Annual Survey identifies four types of hospital ownership: 1) government, nonfederal; 2) nongovernment, not-for-profit; 3) investor-owned, for-profit; and 4) government, federal. This study defined hospital ownership types as private not-for-profit, private for-profit, and public hospitals. Teaching hospital was defined as an affiliated member hospital of the Council of Teaching Hospitals and Health Systems (COTH). As previously described, types of system affiliation are defined as centralized health physician insurance health system (CHPIHS), moderately centralized health system (MCHS), decentralized health system (DHS), and independent health system (IHS). The reference group of the health system/network variable is independent hospitals, which do not belong to any system or
Health care is an end-less field of possibilities and it’s ever changing as well as adapting to better accounting/ finance practices in health care organizations. One aspect that is relatively same universally is to generate and accumulate operating profits. Also, generate and accumulating profits could be related to borrowing, which will be explained in more detail. Next, the Patient Protection and Affordable Care Act of 2010 is extensive, complex, and deals with accounting and finance which is all worth mentioning. Another factor of health care organizations is not-for profit using health care funding and how it all ties in together for accounting and finance for health care organizations. Lastly, the purpose behind the concepts and
The specialists, headed by Renee Hsia, MD, of the UCSF Department of Emergency Medicine and Health Policy Studies, found that among 200 not-for-profit driven clinics, a normal 1.9 percent of aggregate working expenses were coordinated to philanthropy care. This appears differently
Healthcare organizations around the world have strong financial goals with values to improve in patient care and continue with financial gain. Unfortunately, there are many organizations that do not fall into this category and tend to fail each year in that department. This paper will discuss four different hospitals and comparison in their financial success or failures. These hospitals are Scripps Memorial Hospital, Tri-City Healthcare District, Palomar Health Medical Center, and Donald N Sharp Memorial Community Hospital. Scripps is a ‘not for profit’ hospital organization that consists of five hospitals. Tri-City Healthcare District is also a ‘not for profit’ healthcare organization, which gives back to other local non-profit organizations. Palomar Health Medical Center is a community hospital and Donald N Sharp Memorial Community Hospital, also called Sharp Healthcare, is both non-profit organizations.
Financial management is a much greater task in the health care field than any other field because there are so many platforms on which a health care organization receives