HealthCare Finance

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Essay #: 059249
Total text length is 5,107 characters (approximately 3.5 pages).

Excerpts from the Paper

The beginning:
HealthCare Finance
Since 2000, the Mayo Clinic has become a world renowned hospital that provides high quality care at a low cost. At the Mayo Clinic the last three years of a person’s life has a medical expenditure of 54% in comparison to other medical facilities. In the passing of the 2009 healthcare reform bill the US Congress has used the Mayo Clinic as the way to reduce healthcare costs while at the same time increasing the quality of patient care. Unfortunately for the US Congress the Mayo Clinic does not believe that the healthcare reform bill will lower the cost of national healthcare (Andersen, 2009).
One of the basic principles that the Mayo Clinic utilizes is that the pay their physicians a fixed salary that is not adjusted to...
The end:
.....priority at the Mayo Clinic. Technology, medical equipment, renovations are believed to be the best practice employed when providing a high level of healthcare at a lower cost to patients (Baker and Baker, 2006; “Mayo Clinic Annual Report 2008”, 2009).
References
Andersen, M. (2009). Mayo Clinic's decision to deny Medicaid stems from financial hardship. JournalStar.com. Retrieved April 8, 2010, from http://journalstar.com/news/local/article_c4a9bd78-b6bf-11de-91f4-001cc4c002e0.html
Baker, J.J. and Baker, R.W. Basic Tools for non-financial managers 2nd edition. Sudbury, MA: Jones and Bartlett Publishers, 2006.
Mayo Clinic Annual Report 2008. (2009). Retrieved April 8, 2010, from http://www.mayoclinic.org/mcitems/mc0700-mc0799/MC0710-2008.pdf