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Financial Environments Worksheet

HCS/577 Version 4

2

Universityof Phoenix Material

FinancialEnvironments Worksheet

Identifythree specific examples of entities with for-profit, not-for-profit,and government financial environments in the health care industry.Compare the similarities and differences between the for-profit,not-for-profit, and government financial environments.

For-Profit Organizations

Not-for-Profit Organizations

Government Organizations

Specific Examples

1. Group practice

2. Outpatient surgical centers

3. Private hospitals

1. Charitable community hospitals

2. American Red cross

3. Educational hospitals

1. Resident health centers

2. Old-timers hospitals

3. Health and human services

Similarities between Environments

  • All offer education to patients.

  • Quality services are delivered to the public as they provide support to them.

  • All three accept majority of medical insurances.

  • There is bookkeeping of revenue in all three.

  • Officials do development of laws and regulations on service provision from the three who work together.

Differences between Environments

1. liable to payment of property and income taxes.

2. Generate their own funds for them to operate.

3. Manage bookkeeping through balance sheets.

1. They are exempted from income and property taxes.

2. Obtain funds mostly through charitable donations and grants.

3. Manage their accounts through balance fiscal reports.

1. Are influenced by politics and its limitations.

2. They are funded by the state and federal governments.

3. Manage their accounts through monetary reports.

References

Berger,S. (2008).Fundamentals of Health Care Financial Management. APractical Guide to Fiscal Issues and Activities. John Wiley &ampSons

Song,P.H., Cleverly, J.O., &ampCleverey, W. (2010).Essentials of HealthCare Finance. Jones &amp Bartlett Learning

Ward,D.M., &ampFinkler, S.A. (2006).Accounting fundamentals for healthcare management. Jones &amp Bartlett Learning

Sudbury,MA: Jones and Bartlett. kaiseredu.org. (2011). Modules/Military andVeterans health care

Scalesse,M. (2013). The great healthcare debate: For-profit vs.not-for-profit. Nursing Management (Springhouse), 38-43, 44 (11).DOI: 10.1097/01.NUMA.0000432220.71510.72