Health Medical
UCLA Financial Environments of Not for Profit Government & for Profit Organization Essay

University Of California Los Angeles

Question Description

I don’t understand this Accounting question and need help to study.

Write a 1,050- to 1,400-word summary that compares the financial environments of these three entities. Your summary should:

  • Describe the financial structure.
  • Discuss which policies are unique to the financial environment.
  • Discuss which financial management practices are prevalent in the financial environment.
  • Explain why effective financial management is more difficult in health care than in other industries.

Unformatted Attachment Preview

Financial Environments Worksheet 1 HCS/577 Version 6 University of Phoenix Material Financial Environments Worksheet Specific Examples Identify three 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 1. Tenet Healthcare, Dallas 2. Steward Health Care System, Boston 3.Ardent Health Services, Nashville Differences between Environments Similarities between Environments • • • • Not-for-Profit Organizations 1. Kaiser Foundation Hospitals, Oakland 2.Avera Health 3.Lowa Health System Government Organizations 1. Food and Drug Administration 2. National Institutes of Health 3. Center for Disease Control and Prevention Quality of care is targeted in operations of For-Profit, Not-for-Profit, and Government Organizations. The organizations face financial struggles in their environments. The three organizations offer community benefits in health. Diversified patients receive treatments in For-Profit, Not-for-Profit, and Government Organizations (Cheney, 2017). • All of the above organizations coordinate to end health crisis, especially in Opiates, America. 1. Private investors 1. The public is the owner 1. The government is in are the owners of forof a not-for-profit charge of the organization. profit organizations. organization. 2. Focuses on assets for 2. The organization 2. The target is to provide healthcare services. targets to make profits community benefits 3. Focuses with researchers (Price, 2018) without focusing much on in the medical field; hence 3. Receives a profitability. few patients may access its moderate number of 3. Receives the largest ground operations. patients. number of patients. Copyright © 2018 by University of Phoenix. All rights reserved. Financial Environments Worksheet HCS/577 Version 6 References Cheney. (2017). Top 5 Differences Between NFPs and For-Profit Hospitals. HealthLeaders Media. https://www.healthleadersmedia.com/finance/top-5-differences-between-nfpsand-profit-hospitals Price. (2018, May 16). For-Profit Healthcare vs. Not-for-Profit Healthcare Organizations. BoardEffect. https://www.boardeffect.com/blog/for-profit-vs-not-for-profit-healthcare/ Copyright © 2018 by University of Phoenix. All rights reserved. 2 ...
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Final Answer

here is the complete paper.

Running head: FINANCIAL ENVIRONMENT SUMMARY

Financial Environment Summary

Student Name
Institution Affiliation

1

FINANCIAL ENVIRONMENT SUMMARY

2

The financial structure
The financial management for not-for-profit organizations, government organizations,
and for-profit organizations has a lot of differences and similarities. For-profit-organizations
focus on profitability, not for profit organizations focuses on enhancing shareholder value while
providing value in the healthcare system. On the other hand, government organizations' financial
management focuses on providing value for the public good and promoting initiatives that are
good for the public. A not-for-profit organization, however, does not enjoy flexibility in its
financial management plan because it does not engage in exchange transactions like it's for-profit
counterparts (Finkler, Smith, Calabrese and Purtell, 2016). The most important factor is ensuring
that the donated resources are used optimally, unlike the for-profit, which receives payment for
valuable healthcare services provided.
For government organizations, they must ensure that tax payer's money is managed
optimally towards public good health outcomes that affect the health system on a larger scale.
The financial management is more flexible and budgeted within government approximations. For
example, the Center for Disease control plays a significant role in tacking and addressing
regional health challenges of a broader scale and promoting research. Therefore financial
management basically aims at meeting more significant needs. Then there is the issue of
taxation. The for-profit hospitals are regularly taxed by local gove...

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Rice University

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