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Essay / Research Paper Abstract
This is a 5 page paper that provides an overview of health care financial management. Examples are provided from for-profit, non-profit, and government organizations. Bibliography lists 5 sources.
Page Count:
5 pages (~225 words per page)
File: KW60_KFfin011.doc
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Unformatted sample text from the term paper:
care, a variety of financial environments are necessary to accommodate all needs. This paper will explore the three most common types of financial environments, investor-owned for profit environments, non-profit environments,
and government environments, in the health care context. Clearly, in light of the United States uniquely privatized health care system, the most common financial model for health care organizations in
the country is that of the for-profit corporation. A for profit health care organization is generally structured similarly to a typical American corporation, with a host of investors, and internal
managers (Smith, Wheeler, Rivenson, & Reiter, 2000). A key example of such an organization is HCA, an organization which "owns and operates about 180 hospitals" and trades more than 400
million shares between more than 50,000 "individual and institutional stockholders" (Gapenski, 2007). By contrast, there are also many nonprofit healthcare organizations in the United States to make up for
the considerable percentage of the population that cannot afford the costs associated with corporate for-profit health care. In these organizations, funds are used to support the public, and cannot, by
definition, be used for private gain in any sense (Gapenski, 2007). A key example of this environment is Bayside Memorial Hospital, a "450 bed not for profit acute care hospital"
(Gapenski, 2007). Lastly, of course, because much health care access in the country is publicly funded through Medicare and Medicaid, the government occasionally directly provides health care services to
certain individuals, rather than reimbursing organizations that accept Medicare (which is the more common approach). For instance, the Department of Veterans Affairs is a government health care organization that embraces
a publicly funded financial model (Gapenski, 2007). The financial structure of for profit organizations such as HCA involves the centrality of the budgeting process (Smith et al., 2000). In
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