Please write a discussion post of 600 words on the topic below. Must have at least 2 scholarly peer-reviewed resources using APA format. Sources must be within the last 5 years. Must also include one biblical integration which is NOT to be listed as a resource. Textbook is: Lee, R. H. (2019). Economics for healthcare managers (4th ed.). Chicago, IL: Assoc. of Univ. Programs in Health Administration. ISBN: 9781640550483.
Topic for post: Compare and contrast the benefits of non-profit versus for-profit healthcare organizations.
There are benefits for non-profit and for-profit healthcare organizations. Profits represent the distinction between total revenue and total cost (Lee, 2019). To maximize profits, one must identify the product (price or quantity) and characteristics that maximize profits (Lee, 2019). Healthcare administrators who lead healthcare companies who are for-profit, must ensure they understand the concept of profit. Furthermore, healthcare leaders must ensure they are capable of sufficiently applying their knowledge of the topic to the companies they lead. On the other hand, healthcare leaders should never place their organizations profit over the quality of services they are capable of rendering to patients. Non-profit healthcare organizations serve individuals who may not have the income to receive medical treatment at for-profit hospitals. These types of organizations are beneficial because they provide medical services to those who may lack substantial resources.
