Hospitals and Long-Term Care Facilities

Hospitals and Long-Term Care Facilities - Hospitals and...

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Hospitals and Long-Term Care Facilities Hospitals and Long-Term Care Facilities Glennis Bogard Dr. Angela J. Smith Health Services Organization – HSA 500 Date 1
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Hospitals and Long-Term Care Facilities Abstract Hospitals can be set up as nonprofit or for-profit facilities. The differences between the nonprofit and for profit hospitals will be discussed. Hospitals have experienced different trends in the last thirty years. This paper will identify at least three major trends that have occurred within the hospital sector. Three examples that describe and differentiate the roles of hospitals and nursing homes are providing long-term care. The conclusion of this paper will be a brief critiquing of the current state of long-term care policy in the United States. Hospitals and Long-Term Care Facilities Describe the differences between nonprofit and for-profit hospitals. A characteristic as stated by Williams and Torrens (2008) of nonprofit hospitals is that these hospitals do not function under the realm of regular corporate law but under a special provision of the corporate law in each state. It is also noted that nonprofit hospitals also function under special federal and state tax provisions because of recognition of their community service function. Other characteristics of nonprofit hospitals are they do not have owners and their governing body is a community based board that has complete authority over operations. Nonprofit hospitals, in general, are not required to pay most of the taxes at federal, state and local levels. Under section 501C (3) of the federal tax code, the non profits are exempt. Due to this exemption status donations made by individuals are tax deductible. Nonprofit entities are not only expected to care for the destitute and poor but they are also expected to provide a variety of services to the community (Williams & Torrens, 2008). 2
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Hospitals and Long-Term Care Facilities Now that the characteristics of the non-profit have been outlined the for-profit entities make-up will be discussed. For profit entities, unlike nonprofit ones, have owners. The owners are issued stocks and these stocks reflect the owner’s equity position. “For- profit entities, including hospitals, may be publicly or privately held” (Williams & Torrens, 2008, p. 186). Stocks for entities for-profit that are publicly held are made available for anyone to purchase. Publicly held for-profit entities are plagued with various accountability and regulation rules that are supervised by the Securities and Exchange Commission at both federal and state level. Williams and Torrens (2008) state that privately held for-profit entities issue stock but the difference in public versus private issuing of stock is that the private for-profit stock is not available for purchase by the
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Hospitals and Long-Term Care Facilities - Hospitals and...

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