Analyze the financial strategies of selected hospitals

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Reference no: EM133792103

Financial Needs Of Stakeholders

Overview
All hospitals serve patients, employ physicians and nurses, and follow the rules and regulations for clinical services. Although nonprofit and for-profit hospitals have the same goal of patient care, there are operational and cultural differences. The purpose or mission for running the hospital, for example, is clearly different. This difference can be seen in decisions around growth and financial planning. How the hospital operates, then, will also be different. The culture at for-profit hospitals has business at its core. The culture at nonprofit hospitals has service at its core. For balanced healthcare services, both are important.

This assignment will help you explore for-profit and nonprofit hospitals, including their purpose, strategy, and services. You will identify one for-profit hospital and one nonprofit hospital in the United States. You will research and compare the two hospitals to analyze the similarities and differences between these two categories. This assignment will prepare you for Project Two. It will help you to learn to analyze hospitals' financial needs. The needs impact health policies and laws.

Prompt
To complete this assignment, you will create an analysis report comparing for-profit and nonprofit hospitals. You will research for-profit and nonprofit hospitals, collect information about their financial strategies and malpractice guidelines, and then compare these two categories and analyze their similarities and differences. Then you will summarize your analysis findings. Last, you will recommend an appropriate justification for the need for both for-profit and nonprofit hospitals in the U.S. healthcare system.

You are required to cite a minimum of three sources overall to support your claims. However, your submission must cite at least two outside sources from your own research. You may cite no more than one source from the module resources in your submission. For additional help with completing this assignment, refer to the Shapiro Library Guide: Nursing - Graduate item in the Start Here module. You may also use the Online Writing Center, located in the Academic Support module.

Specifically, you must address the following:

Describe the business objectives or purposes of for-profit and nonprofit hospitals, including their general mission and vision. Consider the following in your response:

What are the core objectives of for-profit and nonprofit hospitals, and how do these influence their financial needs?

What are the key differences in the mission and vision of for-profit and nonprofit hospitals?

Analyze the financial strategies of selected hospitals, explaining if their financial needs are key influencers for their business objective.

Consider the following in your response:
How does tax status impact for-profit and nonprofit hospitals?
Are the financial needs of for-profit hospitals and nonprofit hospitals different?

Describe the concept of provision of uncompensated care. Consider the following in your response:
What is uncompensated care?

Is there any difference in the provision of uncompensated care in for-profit and nonprofit hospitals?

Analyze liability guidelines for malpractice and its financial impact on for-profit and nonprofit hospitals. Consider the following in your response:

Are liabilities different for for-profit and nonprofit hospitals?

What is sovereign immunity law, and how does it impact liability limits for malpractice in for-profit and nonprofit hospitals?

Using your analysis findings to support your claim, share your recommendation about the need for both for-profit and nonprofit hospitals in the United States. Consider the following in your response:
What are the key strategic differences between for-profit and nonprofit hospitals?
How do the financial needs or objectives of for-profit and nonprofit hospitals impact the policies and laws?
Is there a need for both for-profit and nonprofit hospitals in the U.S. healthcare system? Share your recommendation with appropriate justification.

Reference no: EM133792103

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