For profit vs. not for profit organizations Melinda Colp AIU Online Healthcare Administration HCM630-1203D-01 Professor Michael Schmitt September 16, 2012 Non-Profit healthcare organization vs. for-profit healthcare organization “Hospitals can be non-profit, for-profit, and government-owned and/or operated” (Baker & Baker, 2006). There are different terms for each classification in how to report and handle the finances but the basics are the same for any type of business. Business
Hospital Financial Management: The Link between Patient Revenue Cycle Management and Profitability in America’s Nonprofit Hospitals Introduction The profitability of American Hospitals is linked to their ability to manage revenue and grow equity. Managing revenue requires wisely reinvesting resources for higher earning potential and equity growth. Limited by a variety of factors, nonprofit hospitals are not able to generate equity externally (Rivenson, Wheeler, Smith and Reiter, 2000). Consequently
CEOs at nonprofit hospitals. JAMA Internal Medicine, 174(1), 61–67. f. Data collection procedures and instruments. The authors accessed 7 data sources: (1) publicly available Form 990 tax returns compiled by GuideStar for US hospitals filing as nonprofit entities in 2009; (2) the American Hospital Association annual survey; (3) rural-urban commuting area codes; (4) Hospital Compare data which
Ethical Dilemmas Facing Non-Profit Hospital CEO Compensation Ethical Dilemmas Facing Non-Profit Hospital CEO Compensation Executive Summary This essay deals with the unethical prevalence of excessive compensation packages granted to nonprofit hospital executives. Nonprofits are highly complex organizations and are vital to the community’s in which they serves. Therefore, it is essential for these organizations to appoint highly motivated individuals knowledgeable of the healthcare industry
in general) is the hospital. Surgeries, x-rays, emergency room visits, magnetic reasoning image scans and other important procedures all take place at this very important location. Organizational structure is key in any business, but it plays an especially large role at hospitals, where the stakes are especially high as far as employee job performance is
longer. In the last year, the profitability of U.S. hospitals eroded for the first time since the Great Recession, pushing some closer to and others over the solvency precipice. Revenues are down and costs are up. And these issues appear systemic and entrenched, giving rise to a series of important and relevant questions: How can hospitals adapt? If they do, will they still survive? And, do we as a nation think it’s important to make hospitals accessible, even if they lose money? As recently reported
Abstract: A growing number of hospitals have converted from nonprofit to for-profit status and vice versa. While there are a multitude of reasons for these conversions the public and communities are prompting concerns, the hospitals that have transformed, will offer a lower quality of care. There have been multiple studies to determine if this conversion is the reason for a decrease in quality of care. A Meta analysis of these studies was performed to understand and determine if there is a change
public funds. Nonprofit hospitals are able to qualify for federal tax-exemption under section 501(c)(3) of the Internal Revenue Code because the Internal Revenue Service (IRS) has recognized the promotion of health for the benefit of the community, where medical assistance is afforded to the poor or where medical research is promoted, as a charitable purpose. (U.S. Government Accountability Office, 2008)
are the relevant stakeholders and what is at stake for each of them? Foley: She believed that the advice of consultant was not correct. She did not want CEO to sale the hospital. First, she was just promoted to be Senior Vice President and COO. She was quite satisfied with this job because she had more responsibility for the hospital and more chance to complete her MAB. What is more, she had a strong mentor, CEO. Right now, CEO was counting on her support. If she disagreed with him, he might lose confidence
Profit Versus Not-for-Profit Hospitals In Partial Fulfillment of the Requirements for Health Services Systems HSM 541 Blaise X. Schmidt DeVry University Keller Graduate School of Management September 2012 1.0 Purpose The purpose of this paper is to conduct a comparative analysis between for-profit hospitals and not-for-profit hospital. It will discuss the characteristics of each as well as factors affecting the operations of both systems. Additionally, it discusses