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Harvard University *
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Course
356
Subject
Health Science
Date
Nov 24, 2024
Type
docx
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3
Uploaded by SuperHumanFieldPrairieDog27
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There are both for-profit as well as non-profit health systems
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Maintaining an impartial outlook when assessing healthcare establishments is crucial and
it's important to acknowledge the challenges faced by unpaid medical volunteers in maintaining
patient connections. While there are altruistic doctors, they represent a minority. Charitable
healthcare organizations largely rely on public donations as they receive minimal government or
commercial health insurance support. The tax exemption for nonprofits significantly lowers their
effective tax rates.
Increased funding significantly aids healthcare expansion, facility improvements, and
service quality enhancement. Strategic investment is key to a company's success. Nonprofit
hospitals generally prioritize patients' health and safety. Given the current economic landscape, it
might be prudent for businesses to reduce their prices. Investor concerns arise when corporations
prioritize shareholder profits over employee welfare during market declines.
The healthcare sector, like any other, thrives with public and stakeholder support. Less
government regulation might encourage healthcare industry companies to prioritize shareholder
returns. Companies of all sizes can benefit from this approach. Nonprofits play a crucial role in
healthcare by contributing to research, testing, distribution, and installation of advanced medical
equipment.
It's wise to understand a company's financial objectives before investing. Standardization,
through the reduction of stakeholders and the enhancement of profits for the remaining ones, aids
in maintaining high revenues and consistent profitability. The effectiveness of increased
investment in marketing and customer acquisition is a matter for debate.
No governmental legislation should aim solely to bolster corporate profits. Some local
businesses prioritize financial gains over customer satisfaction. Similar to other fields, working
in healthcare has its advantages and disadvantages. While there are some benefits to maintaining
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wealth, charitable giving has numerous rewards. Upgrading to more efficient equipment may
come with a hefty price tag, often beyond the reach of many businesses.
Healthcare companies facing difficulties might struggle to attract investors. Swiftly
locating a qualified organ donor is crucial for timely transplants. Nurses leverage surveys and
various data collection methods to assess risks and implement safety measures. Enhanced
communication between hospitals, patients, family members, and health insurance companies
has reduced both the frequency and severity of avoidable medical errors. Many, including
medical professionals, favor a bottom-up recording approach over a top-down one, prioritizing
customer safety at every development level.
References
Finkler, S. A., Smith, D. L., & Calabrese, T. D. (2018).
Financial management for public, health,
and not-for-profit organizations
. CQ Press.
Granof, M. H., Khumawala, S. B., & Calabrese, T. D. (2021).
Government and not-for-profit
accounting: Concepts and practices
. John Wiley & Sons.
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