For-ProfitNot-for-ProfitGovernment
Examples1. medical center
2 . clinic or medical professional groups
several. nursing home1. hospital
installment payments on your clinic or perhaps physician group(ie., Doctors w/o Borders)
three or more. nursing home1. hospital (ie., Veteran's)
2 . center or medical professional group
a few. nursing home
Similarities1. Earnings must be made up on balance bed sheet 2 . Expenditures must be correct and verifiable
3. Runs business as usual, same as others1. Provide solutions that are geared to groups of constituents who endorse a political or social cause or who carry out research or other activities intended for the enhancement of society 2 . Need to augment their particular financial transactions with nonfinancial data relating to their goals. 3. Restricted by personal forces. 1 ) Provide services that are targeted to groups of constituents who supporter a personal or sociable cause or who accomplish research or perhaps other activities pertaining to the betterment of culture 2 . Must augment their particular financial claims with nonfinancial data in relation to their goals. 3. Constrained by political forces.
Differences1. Major money from Medicaid
2 . Offers advanced medical services
3. Pay out taxes
some. Do not offer charitable services
a few. Employees receive benefits
six. Balance sheet to get accounting purposes1. Not owned by a particular group installment payments on your Exempt from national and condition taxes
3. Receive faveur from non-profit status
4. Different quest
5. Economical statement intended for accounting reasons
6. Bills may travel revenues
7. Working revenues coming from foundations, authorities grants, regular membership dues, and fees for solutions they provide1. Government private hospitals owned by federal government-classified as national or general public 2 . Economical statement pertaining to accounting uses
3. Costs may drive revenues
Determine three types of entities with for-profit, not-for-profit, and govt financial surroundings in the medical industry. Evaluate the similarities and differences between the for-profit, not-for-profit, and government...
Recommendations: Finkler, T. A., & Ward, D. M. (2006). Accounting principles for healthcare management. Sudbury, MA: Smith and Bartlett
Gapenski, D. C. (2008). Healthcare finance: An introduction to accounting and financial management. (4th male impotence. ). Chicago, IL: Association of School Programs in Health Government
Horwitz, J. Ur. (2005). Making profits and providing care: Contrasting non-profit, for-profit, and federal government hospitals. Overall health Affairs. twenty-four. No . several. Retrieved via http://content.healthaffairs.org/content/24/3/790.full.
MediaWiley. com (2010). The government rather than for earnings environment. Chapter 1 . Gathered from http://media.wiley.com/product_data/excerpt/01/EHEP0015/EHEP001501-1.pdf
