High Quality Health Care

Throughout the health care system, there is a major emphasis on high quality health care. “Quality is defined by the Institute of Medicine as the degree to which health services for individual and populations increase the likelihood of desired health outcomes and are consistent with current professional knowledge” (Kovner, 2015, pg. 274). The meaning puts an emphasis on individuals and patient groups who are receiving health care and those who are not receiving health care. There are many ways a patient can define what is high quality health care. The Institute of Medicine identified the dimensions of high quality care. “Health care should be safe, effective, patient-centered, timely, efficient, and equitable; a frequently used shorthand definition

A major advantage of non profit health care organization is that the goal is provide services to the community and to understand the needs of the community. Also, they are exempt from taxes and federal tax incomes. A disadvantage of non-profit health care organization is that capital is limited and most nonprofit board members are not paid. Another disadvantage is that nonprofit health care organizations lack formal accountability to stakeholders, which can lead to a mutual agreement on the goals and mission. For profit health care organizations, they are accountable for their stakeholder, which means they have have no political implications. Also, this means that they have a more direct connection to governance. There are advantages of for profit health care organizations. They are able to have the capability to have limited liability and that they can raise funding through risk-based quit capital. There are disadvantages of for profit health organizations though. For profit health care organizations are not tax expert and their stakeholders must pay corporate income taxes, which may include tax on stocks. For public ownership of health care organization is that there is an access to capital, higher valuation of the organization, and a higher company profile. With these advantages, there are the disadvantages of higher costs, the majority of directors are independent, and ownership valuation subject to market fluctuation. With the fluctuation, there may be lost of flexibility in the operation of the health care