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Healthcare organizations have the choice to be for profit or not for profit. There are pros and cons for being for profit or not for profit. Not for profit don’t have to pay taxes but must donate a certain amount of money back to the community (Cheney, 2019). Also, a not for profit must reinvest the profits earned back into their organization (Cheney, 2019).

When using investors there are more opportunities to access capital funds to maintain or expand. For profit hospitals mostly benefit because of the investors money and they have more flexibility with choosing what types of services they can offer to the community (Baird, 1971). If the healthcare organization desires, they can return profits to the investors.

Being for profit versus not for profit will allow the freedom to operate the way the organization feels fit. They can choose to eliminate services that are not doing well or add new and innovative services whenever they want to. They will make all the business decisions and utilize their investors to help solidify the financial growth.

References:

Cheney, C. (2019). 3 strategic differences between nonprofit and for-profit hospitals. Healthcare Leadership Review, 38(10), 1–4. Retrieved from https://search-ebscohost-com.lopes.idm.oclc.org/login.aspx?direct=true&db=ccm&AN=139005571&site=eds-live&scope=site

Baird, C. W. (1971). On Profits and Hospitals. Journal of Economic Issues (Association for Evolutionary Economics), 5(1), 57. https://doi-org.lopes.idm.oclc.org/10.1080/00213624.1971.11502963