Comparative Summary Essay Example | Topics and Well Written Essays - 1250 words

Comparative Summary - Essay ExampleIt is against this backdrop that ternary major fiscal environments namely the profit making environment, not-for-profit environment and government environments have been identified in this study for critical scrutiny on how differences in financial management in each of the environments fanny be well harnessed to ensure that the collective goal of achieving universal quality healthcare tin faecal matter be achieved. Profits Making Financial Environment Healthsouth is the identified entity under the shekels financial environment. Generally, the financial structure of the profits financial environment can be described as one that is influenced by the activities of shareholders. This is to say that these entities have financial bottom lines that address the profit gaining needs of their shareholders (Experience Healthsouth, 2010). To this terminate, they are structured such(prenominal) that there is several profit making avenues on the services an d products that are offered. As much as possible also, there exist external investments models do with the contri scarceions of shareholders so as to maximize the earnings from the health facility. Some of the policies that are unique to the profit making environment include the fact that annual profits are shared out among shareholders instead of reinvesting the entire amount of profit made. This is because shareholders come on board as investors who expect positive financial returns at the end of each fiscal year. In the same manner that profits are shared, there exists a peculiar render whereby losses are also shared among the shareholders. In the event of recording a loss at the end of the fiscal year, shareholders will be expected to make financial provisions for the accomplishment budget (Experience Healthsouth, 2010). Because losses are shared by shareholders as much as profits, there are always efforts that ensure that all lope holes to financial malfeasance of any kind are blocked. This is indeed one of the most outstanding financial management practices prevalent in the profit financial environment. With the Healthsouth as a case study, it would be observed that the entity employs the services of financial experts such as accountants, bursars and auditors whose duties are not incorporated into the larger healthcare delivery services of the entity (Experience Healthsouth, 2010). patronage the numerous efforts that are made to ensure financial management practices at Healthsouth, it would still be realized that the facility faces several challenges. The major reason that can be ascribed to the existence of these financial management challenges is because the facility is a healthcare facility. Generally, it is debated because the services of financial experts are not directly linked to the health provision services of the healthcare facilities there exist apathy on the part of healthcare administrators to closely monitor the activities of the said f inancial management experts (Wolinsky, 2005). Not-for-Profit Environment Carolinas healthcare Systems is the selected entity under the not-for-profit financial environment. Among the features of the facility that makes it stand out and worth discussing is the fact that the facility focuses its services to not just short term care but lifetime medical care to patients. The facility therefore serves as lifetime medical home to patients (Carolinas Medical Center,