Financial Environment
Financial environment of an organization refers to the factors (both internal and external) that affect its financial position as well as financial decisions made. These include: taxes, profits of competitors, government financial policies.
For-profit
Evendale Medical Center
Triumph Hospital Lima
Affinity Medical Center (Ohio Hospital Association, n.d)
Government
Bellevue Hospital Center
Coney Island Hospital
Lincoln Medical Center
Similarities
One similarity of the three categories is that all of the institutions pay taxes, though the amounts they pay vary.
Each of the three institutions has to set price strategies that meet their core objectives, be it maximizing profit or others like research.
No matter their different objectives, all the three types strive not to have deficit or losses in their financial records
Differences
For-profit
For profit organization’s pricing decisions are to a larger extent determined by the profit factor. There management always strive to provide the shareholders with the greatest benefit Therefore they will charge prices that will enable them to achieve the greatest amount of profit possible. As a result, most for profit health care organizations tend to char higher prices compared to the rest. (Hatch, 1997)
As far as costs incurred by these type of organization, most research findings have shown that for-profit institutions incurred higher costs per day of 3% to 10% compared to institutions that have no profit objective. This is mostly attributed to higher taxes that they pay and also large capital outlays.(Gray, 1993)
Most for-profit healthcare institutions pay a lot of taxes compared to non-profit and government counterparts. Due to their profit objective, they are always left with a higher taxable income, hence leading to higher tax paid.(Cutler, 2000)
Not-profit
Most the not-for-profit are less likely to be driven by profit objective. In most cases provision of healthcare by the organization may just be means of achieving other objectives. These may include: research mostly medical, promoting a given religious faith or empowering a given community through health education. Based on these objectives such health care institutions tend to price there services at the lowest possible levels. This therefore means that there pricing strategies are less aggressive but mostly are designed to attain these underlying objectives. (Hatch, 1997)
This type of healthcare organization is associated with low operation costs compared to for-profit organizations. This is largely attributed to less ancillary services offered, higher occupancy rates, low taxes that they pay due exemptions and reimbursements that they are entitled to (Gray 1993).
Most non-profit organizations benefit from tax exemptions due to their charitable contributions. This is attributed to the fact that most their projects not profit motivated but focus on helping the community (Cutler, 2000).
Government
Mostly government healthcare institutions receive a lot of funding from the government. Therefore the main objective of these institutions is to provide affordable medical services to the public. As a result prices are very low in such organizations and at times they provide free services to patients. This is because most of its costs are subsidized and hence they are financially cushioned. (Hatch, 1997)
Most government institution are not faced with the cost burden as compared to other institutions, because shares most of their capital expenses (Gray, 1993)
Government institutions are exempted from most taxes and are also entitled to a lot reimbursement (Cutler, 2000).
Our Service Charter
-
Excellent Quality / 100% Plagiarism-Free
We employ a number of measures to ensure top quality essays. The papers go through a system of quality control prior to delivery. We run plagiarism checks on each paper to ensure that they will be 100% plagiarism-free. So, only clean copies hit customers’ emails. We also never resell the papers completed by our writers. So, once it is checked using a plagiarism checker, the paper will be unique. Speaking of the academic writing standards, we will stick to the assignment brief given by the customer and assign the perfect writer. By saying “the perfect writer” we mean the one having an academic degree in the customer’s study field and positive feedback from other customers. -
Free Revisions
We keep the quality bar of all papers high. But in case you need some extra brilliance to the paper, here’s what to do. First of all, you can choose a top writer. It means that we will assign an expert with a degree in your subject. And secondly, you can rely on our editing services. Our editors will revise your papers, checking whether or not they comply with high standards of academic writing. In addition, editing entails adjusting content if it’s off the topic, adding more sources, refining the language style, and making sure the referencing style is followed. -
Confidentiality / 100% No Disclosure
We make sure that clients’ personal data remains confidential and is not exploited for any purposes beyond those related to our services. We only ask you to provide us with the information that is required to produce the paper according to your writing needs. Please note that the payment info is protected as well. Feel free to refer to the support team for more information about our payment methods. The fact that you used our service is kept secret due to the advanced security standards. So, you can be sure that no one will find out that you got a paper from our writing service. -
Money Back Guarantee
If the writer doesn’t address all the questions on your assignment brief or the delivered paper appears to be off the topic, you can ask for a refund. Or, if it is applicable, you can opt in for free revision within 14-30 days, depending on your paper’s length. The revision or refund request should be sent within 14 days after delivery. The customer gets 100% money-back in case they haven't downloaded the paper. All approved refunds will be returned to the customer’s credit card or Bonus Balance in a form of store credit. Take a note that we will send an extra compensation if the customers goes with a store credit. -
24/7 Customer Support
We have a support team working 24/7 ready to give your issue concerning the order their immediate attention. If you have any questions about the ordering process, communication with the writer, payment options, feel free to join live chat. Be sure to get a fast response. They can also give you the exact price quote, taking into account the timing, desired academic level of the paper, and the number of pages.