Organizational Impact
Propose your choice of hospital and rational. Do not use 1st person. Describe in detail the hospitals mission. What is the industry or purpose? For example, St. Jude’s is a non-profit hospital whose mission is to provide care to pediatrics with specific cancers at no further cost to the parents (St. Jude’s, 2021). No direct quotes but summarize and cite the information using the hospitals website.
What are the sub-industries? For example, St. Jude’s also has a huge research center linked to their mission of curing cancer in pediatric patients (St. Jude’s, 2021).
What is the hospital’s financial background? Find 1-2 specific examples of the yearly income and expenses. Is the facility solvent? What do the numbers mean?
Nonprofit or For Profit
Is the organization you selected a nonprofit or a for-profit? What differences will this make in terms of economic policy impact? What is your organization’s tax status? How is your healthcare facility affected by economic legislation based on their tax status?
Demand Theory
Accurately describe how the demand theory is reflected in the hospital’s financial statements. Answer the question: How do you know your facility is in demand? This may take a little bit of reasonable deduction when reviewing the yearly financials of the hospital. For demand, you can look for new services being provided or a new building going up to better serve the community? Has there been an increase in patient services in a particular area? Etc.
You can find this information sometimes in the communication to the community, press releases and Google. For example, “Google Johns Hopkins Bulletins” and many sites show up including the library at JH where all the bulletins are stored. You can search that JH data base.
Market Behavior Impact
Explain how the market behavior of the healthcare industry impacts the financial statements of the organization at various times throughout the year and the rationale for these yearly fluctuations. One area to look at is fundraising and any published pro-bono work. Fundraisers bring money in [income]; whereas, pro-bono cases cause spending of money [expenses]. You can also look at the publications for the community. Again, you can Google your facility and “yearly changes” and see what pops up!
