You are currently working at a large academic medical center in an urban community. For the last several weeks, you have heard that other health care organizations are looking to build within a 10-mile radius of your organization. Your CEO has asked you to research the other organizations and how their services are similar to and different from what you currently offer.
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Discuss the following questions:
- What are some business and financial implications of the differences between community not-for-profit hospitals and large academic medical centers that may affect staffing, programs offered, and policies and procedures?
- What financial impacts could result if a for-profit organization was built within your community?
What are some of the financial benefits of being an academic facility rather than a not-for-profit facility?