Everything about For-profit Hospital totally explained
For-profit hospitals, or alternatively investor-owned hospitals, are
investor-owned chains of
hospitals which have been established particularly in the
United States during the late twentieth century. In contrast to the traditional and more common
non-profit hospitals, they attempt to garner a profit for their shareholders.
In the United States. the three largest such firms are
HCA,
Tenet (formerly
NME), and
HealthSouth. HealthSouth, as the third-largest U.S. national chain, is also the leading provider of rehabilitation services.
A conceptually related institution is the
for-profit HMO, which now comprises the predominant means of delivering
medical services in the United States.
Advocates of such institutions claim they're able to provide better care at lower
cost due to higher efficiency.
Detractors, however, claim that the relative success of for-profit medical providers arises from their positioning themselves in the medical marketplace in such a manner as to offer mainly profitable care services for a largely affluent and insured clientele whilst avoiding unprofitable care areas. Critics thus claim, for example, that for-profit hospitals specialize in such highly lucrative fields as
medical rehabilitation, elective/plastic surgery, and
cardiology while avoiding provision of loss-making services such as
emergency medicine which in turn caters mainly to the indigent. Analogously, critics of for-profit HMOs argue that such firms disproportionately insure healthy people, while simultaneously eschewing chronically ill patients, who must then by default be cared for disproportionately by public insurance schemes and non-profit providers--thus a so-called "dumping" of undesirable patients.
They have also been criticised by elements of the Canadian medical establishment as providing inferior care at higher cost. See
this commentary
in the
Canadian Medical Association Journal and
this editorial in the
New England Journal of Medicine.
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