Comparitive Summary

Comparative Summary

Tracy Wells

HCS/577

August 10, 2015

Ruth Bundy

Comparative Summary

This paper will be discussing the different types of health care entities. There are three categories and they are: For profit, Not-for-Profit and Government organization. This paper will also be discussing the financial structure of each entity along with how financial management is more difficult in health care.

Financial Structure Medicaid (Government Organization)

The Medicaid structure is to provide health coverage to low income uninsured families, filling in gaps in Medicare coverage which will include outpatient prescriptions, and Medicaid will ensure over 7 million low-income elderly and disaster. But, Medicaid will help both state and federal government to manage cost and to give health insurance to those who are in need of health care coverage, Medicaid structure will also make sure that the federal government and states share risk and responsibility on all expenses that the insured people use. According to Wachins, Schneider and Rousseau (2004) Medicaid is serving at least 38 million children and adults in the low income family. It will also serve 13 million seniors and individuals with disabilities and this will also include 6 million Medicare beneficiaries who are already signed up for Medicaid. The federal government will spend at least $162 billion on Medicaid in 2003, which is accounting for about 7.5 percent and the states will spend at least $110 billion on their own which is totaling the funds of spending to roughly $270 billion.

Mayo Clinic Financial Structure (Not for Profit)

The mayo clinic will spend at least $700 million a year on new and ongoing projects within the next five years. Which means it hast nearly doubled the $415 million that has been spent the year before, the mayo clinic is getting at least $600 million for new projects in 2012, they have never mentioned what the new projects would be until the projects are complete (Bolton, 2012. According to Bolton (2012) sixty percent of the money that is being spent will help with new facilities, equipment, and information technology and whatever is left will go toward a “strategic investments” for new projects and equipment so that they are able to treat the patients better.

The mayo clinic had an operation income of $615.2 million from 8.48 billion in revenue during 2011 which is up from $515.3 million of a $7.94 billion in revenue in 2010. The mayo clinic is there to help those who are in need. The mayo clinic will help treat almost any types of diseases or disorders and will do their very best to help the patient feel better. The mayo clinic will treat patients at a low cost or for nothing at all depending on the situation.

National Surgical Hospital (For-Profit) Financial Structure

The structure of hospital organization is depending on the size and how many beds they have because, without the proper rooms and equipment and the size the hospital may not be able to treat patients properly. Also it will depend on the type, the size, and location of the hospitals. According to Patrick (2012) general hospitals are bigger in size so therefore, they are able to treat more patients and rural hospitals tend to be smaller so they can and are only able to treat a certain amount of patients. The financial structure will depend on the amount of patients they can handle and what types of health insurance they take to accommodate the patients.

Unique policies

Not sure what the unique policies are. Depending on what type of facility it is and what types of insurance they take or what type of insurance the patient has. The most unique policy I found is pet insurance because, most pets are considered family and they do have health issues also which means they could develop heart problems, cancer, and other health conditions so therefore there is health insurance out there for your pet. The other unique health insurance that I found was a wedding insurance and with this type of insurance it will cover if you would have to postpone your wedding due to a disaster or death in the family. Identity theft is another unique insurance policy which it will cover if someone stills