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Harvard University *
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MISC
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Medicine
Date
Nov 24, 2024
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docx
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4
Uploaded by SuperHumanFieldPrairieDog27
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There are both for-profit as well as non-profit health systems
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In the existing healthcare system, comparing for-profit versus non-profit providers can be
difficult. Unfortunately, there are cases where profit-seeking takes precedence over patient care
at hospitals and clinics. In order to achieve their missions, non-profit hospitals cannot and do not
take funding from insurance providers. Their effective tax rate has a major impact on their
bottom line. There is still a pressing need to close healthcare access gaps (Finkler et al., 2021).
In order to improve the healthcare system and better serve patients, more money is
needed. Adequate money is crucial for the achievement of any organization's initiatives. Because
of their charitable mission, most hospitals and clinics put the health of their patients ahead of
their bottom line. Many businesses cave to customer pressure and provide huge discounts during
tough economic times. Decision-makers frequently put investors ahead of workers, adding to
worries about market volatility (Granof et al., 2021).
Non-profit organizations cannot survive without widespread public backing. Profitability
in the healthcare industry may be improved by CEO cooperation. The efficacy of a group's
lobbying strategy is a topic for discussion.
Both public and private hospitals have a moral obligation to improve healthcare and
expand scientific understanding. It's understandable if doctors are hesitant to work for a clinic
that puts profits before patients. Implementing established systems that streamline operations and
allocate resources evenly may support consistent high sales and stable profits. It's still up for
discussion what the best strategies are for boosting sales.
The primary goal of government regulations should not be to increase corporate profits.
However, some regional establishments may place monetary gain ahead of continued patronage.
Before committing to a specific career route, it's important to weigh all of the benefits and
drawbacks of that path carefully. Helping those who are less fortunate is a more selfless use of
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one's resources than is putting money aside for one's own needs. Despite the obvious monetary
benefits to the company, capital problems can prevent investment in cutting-edge technologies.
The healthcare industry's persistent losses have alarmed investors. Finding appropriate
donors quickly is crucial for preventing transplant procedures from failing. As a common method
of reducing exposure to danger, nurses frequently keep logs of their interventions.
Misdiagnoses, patient concern, and disagreements between healthcare providers and
insurers have all decreased noticeably as a result of crisis management efforts. Nurses' capacity
to maintain order in patient records relies on ongoing retrospective assessment of their efforts.
Developers with experience in the healthcare industry know how crucial it is to prevent
unauthorized access to people' medical records.
References
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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.