In the U.S. there are thousands of hospitals located in almost every demographic, and mainly they provide some of the same treatments. However, a major difference between some of these hospitals is that some are For-profit meaning they are more focused on receiving the money they expect while others are Non-profit meaning they are more inclined to help the community and provide care for those who cannot pay for it. Though it may seem that the non-profit hospital is the more wholesome and simply charity
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
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
is to examine the relationship between CEO compensation and patient satisfaction in non-profit hospitals throughout Ontario, Canada. The study aims to identify the possibility of a correlation between these two variables via the investigation of three key research questions: (1) Does CEO compensation affect patient satisfaction? (2) Does CEO compensation play a mediating role between patient satisfaction and hospital size? (3) Other than CEO compensation, what factors impact patient satisfaction? Through
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