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    The Cleveland Clinic Foundation Proposal

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    The Cleveland Clinic Foundation Proposal

    Uploaded by

    4kghjszq97
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    3 views3 pages

    The Cleveland Clinic Foundation Proposal

    Uploaded by

    4kghjszq97

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 3

    1

    The Cleveland Clinic Foundation Proposal

    Kenya Hutton

    Southern New Hampshire University

    IHP 620

    Dr. Aloi

    June 1, 2024
    2

    The Cleveland Clinic Foundation Proposal

    Organization Focus

    I intend to investigate the Cleveland Clinic Foundation, which is a leading nonprofit

    academic medical center renowned for its specialized care and research advancements. The

    organization works within the hospital sub-industry and is globally known for its comprehensive

    medical services, such as specialized care, primary care, and surgical services (ProPublica,

    2024). It is also a top medical organization recognized for its pioneering research, academic

    programs, and dedication to providing high-quality care. A thorough evaluation of its financial

    health is crucial to completing my final project.

    Financial Data and Nonprofit

    The Cleveland Clinic Foundation is a nonprofit group, per the financial records and

    reports published in ProPublica. Accordingly, the organization maintains a robust financial

    structure with multiple income streams such as services, research funding, and philanthropic

    contributions (ProPublica, 2024). According to a recent financial report, the Cleveland Clinic

    Foundation recorded revenues of $13.5 billion in the fiscal year 2022 (ProPublica, 2024). This

    substantial revenue demonstrates the organization's broad healthcare operations and substantial

    patient base. The organization’s financial stability is further supported by its large endowment

    and ongoing investments in medical research and facility growth.

    Economic Impact

    The economic principles of demand, market, and consumer behavior greatly affect the

    Cleveland Clinic Foundation's financial statements through patient volumes and cost

    adjustments. For example, an increase in respiratory illnesses during the winter months leads to a

    rise in the number of patients visiting hospitals, which improves the organization’s revenues
    3

    (Folland et al., 2024). Similarly, an increase or reduction in insurance reimbursement rates tends

    to change healthcare organizations’ profit margins, revenues, and financial success (Folland et

    al., 2024). In addition, policy changes affecting Medicare and Medicaid cost reimbursements can

    lead to large adjustments in revenue and net income (Folland et al., 2024). Thus, the changes in

    the organization’s revenues at different times show the interplay between economic principles

    and the company’s financial health.

    References

    Folland, S., Goodman, A. C., Stano, M., & Danagoulian, S. (2024). The economics of health and

    health care. Routledge.

    ProPublica. (2024). Cleveland Clinic Foundation. Retrieved June 1, 2024, from

    https://projects.propublica.org/nonprofits/organizations/912153073

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