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Essay / Research Paper Abstract
This is a 3 page paper that provides an overview of financial environments. For profit, non-profit, and government environments in health care are examined. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: KW60_KFfin010.doc
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Unformatted sample text from the term paper:
resources and manage expenses, but also in terms of what their overall fiscal management policies and goals are. This paper will explore three different types of financial environment - profit,
non-profit, and government - in the health care industry. The financial arm of any health care agency shares some fundamentally similar goals and responsibilities, and understanding these shared traits
can help one gain greater insights into the nuances were the different environments diverge from one another. To begin with, all financial environments must concern themselves with "long-term investment decisions",
such as "the acquisition of new facilities and equipment", and financing decisions, such as "the use of internal versus external funds, the use of debt versus equity capital", and so
on (Gapenski, 2006). Additionally, all financial management components of any health care industry also deal with the management of working capital, contract management, and with financial risk management (Gapenski, 2006).
Despite these core similarities, however, there are key areas where the types of financial environments differ considerably. For instance, one might begin by looking at a particular example of
a for profit health care agency, such as Marshall Regional, a "20-bed acute-care hospital with a 120-bed skilled-nursing facility" located in the western United States (Cleverley, Cleverley, & Song, 2012).
Such institutions are typified by the primary goal of "shareholder wealth maximization"; in such an environment, managers make their own decisions, but must balance their own welfare with the welfare
of patients, the welfare of organizational employees, and the welfare of the community as a whole (Cleverley, Cleverley, & Song, 2012). Ultimately, however, the maximization of shareholder wealth through increasing
the value of stock is the most important goal of any manager of any for-profit healthcare organization. For this reason, careful decisions must be made, such as whether or not
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