ABSTRACT
To succeed in today's complex economic environment, a not-for-profit health system requires an effective strategic capital planning process that harmonizes three elements: The organization's long-term business plan and mission. Existing financial resources and finance options available to support the organization's business plan. Financial risk and return on equity to the organization's stakeholders (within acceptable parameters for business risk).
Subject(s)
Capital Financing/organization & administration , Hospitals, Voluntary/economics , Capital Financing/methods , Economic Competition , Financial Management, Hospital , Risk Management/economics , United StatesABSTRACT
Independent hospitals should take six steps when considering the viability of maintaining independence: Evaluate the links between independence and organizational mission. Assess market factors. Analyze the organization's financial status. Perform a strategic assessment. Evaluate the potential benefits of partnership. Assess the organization's ability to implement strategy.