Healthcare Essay

1953 WordsOct 31, 20128 Pages
Abstract Healthcare experiences shortages of resources from time to time, but one thing it is never short on is opinions. Key trends in the healthcare industry require providers to demonstrate accountability for the care they provide, including transparency of their activities and their results. But at the same time, they are driven to maintain the privacy of these same interactions with patients. They are pressured to provide a higher degree of coordinated care across the life of their patients and to promote wellness and preventative care. This care is increasingly becoming personalized to each patient’s needs and wishes; and at the same time based on evidence from a broad spectrum of patients with similar needs and wishes. Out of this mix comes an equally wide variety of responses in the form of a diverse mix of organizational structures, business forms, service types, economic relationships, laws, regulations and cultural methods and restrictions. Compare and Contrast the Four types of Health Care Business Organizations Most health care companies in the United States adhere to Generally Accepted Accounting Principles to maintain consistency in reporting of financial information and to reduce the risk of fraud and error. The principles have been derived from traditional accounting systems and can be adapted to an organization’s management style and industry. If GAAP did not exist, these companies would not be able to provide accurate and consistent financial information to investors, creditors and stakeholders of a company. Organizations need to understand and enforce the principles of GAAP; this helps set the standard for the organization and reduce the risk of tax problems and erroneous reporting of transactions across all departments. Financial policy and financial planning should be closely integrated within the strategic

More about Healthcare Essay

Open Document