Comparative Summary

Financial Environments Worksheet

HCS/577 Version 6

Jason Parkhill

1

For-Profit Organizations

Not-for-Profit Organizations

Government Organizations

Specific Examples

1. Cancer Treatment Centers of America

2. North Shore Medical Center in Fort Lauderdale

3.Methodist Hospital in San Antonio

1. Kaiser Foundation

2. Catholic Health Initiatives

3. Mayo Clinic Health Systems

1. U.S. Department of Veterans Affairs

2. U.S. Department of Health and Human Services

3. Centers for Medicare and Medicaid services

Similarities between Environments

· They all have a source of revenue to sustain operations.

· They all provide services for the health and wellbeing of the community.

· They all create and maintain financial budgets and track all income and expenses.

· They all must recruit and train employees to provide health care services to the communities they serve.

· They all must create a budget.

· They all must maintain their financial balance sheets to ensure viability.

Differences between Environments

1. Pays Taxes.

2. Benefits Private owners or investors and selected individual customers, not all of the public.

1. Tax Exempt.

2. Benefits the public

3. Funded by revenues, donations, and government grants

4. Do not have to answer to shareholders.

1. Tax Exempt.

2. Benefits the Public.

3. Funded by the taxpayers.

4. Do not have to answer to shareholders