Comparison of the legal structure and governance of a profit and not-for-profit hospital

Comparison of the legal structure and governance of a profit and not-for-profit hospital

Comparison of the legal structure and governance of a profit and not-for-profit hospital
In this assignment, you will compare and contrast the legal structure and governance of a profit and not-for-profit hospital. Also, examine the benefits and disadvantages of Public-Private partnerships. Write a four- to five-page report evaluating each option and provide your recommendation of the type of structure that would best serve the needs of your community.
Your report should address the following substantive requirements:

1. Describe and assess each international entity and rules it must follow.
2. Compare and contrast the three types, including advantages and disadvantages for each.
3. Argue your recommendation for your chosen structure that would best serve the needs of your community.

Your well-written report should meet the following requirements:

1. Be four to five pages in length, not including the cover or reference pages.
2. Formatted according to APA writing guidelines.
3. Provide support for your statements with in-text citations from a minimum of four scholarly articles. Two of these sources may be from the class readings, textbook, or lectures, but two must be external.
4. Utilize the following headings to organize the content in your work:

• Introduction
• Description and Assessment
• Compare and Contrast
• Recommendation
• Conclusion

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Investor-owned hospitals are generally operated as either a separate proprietary “business” corporation or as subsidiaries of multihospital systems.² Even among the hospitals that are subsidiaries of holding company chains, however, many individual hospitals are separate corporations and responsible to a certain degree for their own affairs, subject to the ultimate control of the holding company. Thus, the discussion that follows is equally applicable to freestanding investor-owned hospitals and those integrated into hospital chains. It should be noted that while a substantial majority of investor-owned hospitals are freestanding the vast majority of investor-owned beds are owned by chains. In short, the chain investor-owned hospitals are considerably larger than the freestanding hospitals in the number of beds and thus in operating expenses.
All investor-owned corporations, regardless of whether they operate hospitals, are governed by the business corporation laws of the state in which they are incorporated. They must also register with other states in which they do business. Because of the relatively unobtrusive provisions of the business corporation laws of some states, e.g., Delaware, with respect to internal corporate operations, many corporations doing business in more than one state are incorporated under the laws of a state other than where they conduct the bulk of their business. ³ Corporations that only do business within one state, however, are more often than not incorporated only under that state’s business corporation law.

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There are certain basic attributes shared by all business corporations. All business corporations are ultimately governed by their

shareholders, i.e., individuals or corporations who possess a proprietary interest in the assets and income of the corporation that is signified by the ownership of stock. The shareholders, as owners of the corporation, elect a board of directors, which is responsible for the conduct of the corporation.
The board of directors in turn employs various individuals who are responsible for the day-to-day operations of the corporation. These individuals are referred to as officers or agents of the corporation. In most cases, at least with respect to investor-owned companies, the officers of the corporation also are members of the board of directors. This is most frequently true of the chief executive officer of the corporation. Beyond this, it is difficult to identify any other general patterns of organization because the titles, functions, and relationships of the various elements of corporations differ from state to state as well as from corporation to corporation.
The purpose of most state corporate laws is to protect the rights of the shareholders in relation to the corporation’s board or management. These laws set forth rules governing corporate elections, require the board to render periodic financial statements to the shareholders, and provide mechanisms by which shareholders who dissent from certain actions taken by the corporation can receive compensation for their shares in lieu of continuing their association with the corporation. There are few, if any, restrictions on the kinds of business that can be conducted by business corporations, aside from general prohibitions against conducting criminal activities. Thus, the stated-purpose clause of many investor-owned companies, including hospitals, generally permits the corporation to engage in “any lawful activities permitted to be conducted by corporations” in the particular state. This allows easy diversification of investor-owned corporations into both related and unrelated business.