Financial strategies

All hospitals serve patients, employ physicians and nurses, and adhere to the rules and regulations defined by the legal framework for clinical services. Although nonprofit and for-profit hospitals are fundamentally similar, there are significant cultural and operational differences, such as the purpose or mission for running the hospital, strategic approaches to scale, financial strategies, and operational discipline. The culture at for-profit hospitals is business driven, and at nonprofit hospitals, it is service driven. For balanced healthcare services, both are important.

This assignment will help you explore for-profit and nonprofit hospitals, including their purpose, strategy, and services. You will identify one for-profit hospital and one nonprofit hospital in the United States. You will conduct research and compare these identified for-profit and nonprofit hospitals to analyze the strategic similarities and differences between these two categories of hospitals. This assignment will prepare you for Project Two by helping you develop skills to analyze hospitals’ financial needs and their impact on health policies and laws.