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Financial Environment

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Financial Environments Worksheet

Identify three 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 Not-for-Profit Government
Examples 1. Edward White Skilled Nursing unit- St. Petersburg, Florida
2. Cleveland Clinic Hospital- Weston, Florida
3. Mt. Sinai Medical Center- Miami Beach, Florida

1. Regents Park Sunrise- Sunrise, Florida (Nursing Home) 2. Mercy Hospital, Inc.- Miami

3. St. Anthony’s Hospital- St. Petersburg, Florida 1. Jackson Memorial- Miami, Florida

2. Broward General Hospital- Ft. Lauderdale, Florida

3. Alexander Sandy Nininger State Veterans' Nursing Home- Pembroke Pines, Florida
Similarities Must follow the same health regulations as nonprofit or government health facilities Must follow ethical regulations as a for-profit and government organization.
Governments and not-for-profits are governed mostly by their budgets, not by the market. Must hire employees with the same training as a for-profit or nonprofit organization.

Differences May give profits to shareholders.
They must pay taxes to the IRS.
Different in how they make their money. Not-for-profit’s incomes are not recognized by legal obligation but may be gained from contributions, fees, charges incurred, tuition, etc.
They do not pay tax because of charitable contributions. Government may not be focus on the competition challenged by a for-profit or non-profit business.
Veteran’s Nursing homes are losing funding and the government is giving these types of facilities less money. These nursing homes have volunteers from their local veteran organizations and active-duty military units (Nursing Home Rank, 2012).

Similarities Whether it is a…...

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