Nonprofit versus For-profit Healthcare and Organizations
Healthcare facilities and organizations are based on either nonprofit or for-profit. Nonprofit and for-profit organizations have many different characteristics. A nonprofit healthcare facility is designed for people that are not able to afford healthcare. Most nonprofit hospitals are created for the community and may have a religious background. With the economy being in a serious recession, the nonprofit organization is able to give proper care to the patients in the community at an affordable price. These hospitals and health organizations are Charitable. You also have some educational hospitals that are also nonprofit. These hospitals are linked to different colleges and universities. Their funding comes from the educational institution. The educational hospital is also to help the students that attend the university in research and education. Besides the educational hospitals, we also have research institutions. These institutions also targets education and research as well. They focus on experimental treatments and methods for patients that may reject usual treatment. Another nonprofit organization is public health programs. This program has different services that they present to the community. Some of these services are free clinics such as clinics and hospice care. They are functioning on little to nothing funding. When it comes to this nonprofit organization healthcare has one of the biggest advantages in their tax breaks because it is known to be very free from all of its tax burdens which are under the 501c3 code, although we still see plenty changes going through there market rates. One thing about nonprofit organizations they are allowed to receive donations. They also are able to receive government grants and other grants. Certain hospital that is able to perform research projects has a better chance when applying for funding from the government. When donating to the nonprofit organizations, people are able to receive tax deductions for their money, donations and any gifts that were given.
For-profit is an organizations and hospitals that was designed in the more traditional business sense. For profit organizations must pay taxes. Even though they have to pay taxes and have a more traditional structure, they also support their community. Most of all a for-profit organization end up closing or shutting down, the assets from the organization can be liquidated and given to the owners and shareholders. On the other hand a nonprofit business, the assets that is left over must be given to different organization that is nonprofit as well.
The two have many things in common and they are similar to the other. Both forms of organizations support their communities in many ways. Even though one is pays taxes and the other one is charitable, they both serve a greater purpose which is the community and helping others and they want to make sure that they both have great quality when it comes to the cost of healthcare rising.
There has been an extreme increase in healthcare cost in today’s economy. With everything going up in today’s day in age majority of healthcare organizations and hospitals has become for profit businesses. Many people may…