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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.
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?