TITLE

Not-For-Profits: Business Basics for Survival

AUTHOR(S)
Krenek, Jr., Bryant H.
PUB. DATE
June 2006
SOURCE
Frontiers of Health Services Management;Summer2006, Vol. 22 Issue 4, p15
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
Many not-for-profit hospitals are struggling to keep their doors open. Although executives often contend that they are not playing on a level field, the fundamental cause is the hospital's failure to earn an excess of revenue over expenses. The tax exemption enjoyed by a not for profit can be a tremendous advantage. Some may argue that uncompensated care negates that benefit, but uncompensated care is a problem for the industry, not just not-for-profit institutions. The real issue at stake is the not-for-profit mentality�a belief that a tax-exempt business is not supposed to make money. On the contrary, our goal is to provide much-needed services to the community, and to do that well, we must make money. When solid business practices are followed, a hospital will be able to provide the basic healthcare services needed with positive financial results.
ACCESSION #
21080565

 

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