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Health Care Financial Management New York Downtown Hospital

In 1937, the New York Infirmary opened the Strang Cancer Prevention Clinic and in 1969, it formed an affiliation with New York University Medical Center to strengthen the university medical teaching program. This had lead to other structural and administrative reformation. From the New York Infirmary for Indigent Women and Children, in 1979, the hospital merged with Beekman Downtown Hospital, which was founded in 1945 as a product of a merger between St. Gregory’s Free Emergency Accident Hospital and Ambulance Station and became New York Infirmary – Beckman Downtown Hospital.In 1991, New York Infirmary – Beckman Downtown Hospital went through another administrative and organizational change. It consolidated both names into New York Downtown Hospital. Because it was affiliated with New York University Medical Center, New York Infirmary – Beckman Downtown Hospital went through another change in its name to NYU Downtown Hospital.Mergers and acquisitions are hot (Zweig, 2005). This hospital is not an exception because changing management, changing policy, changing programs (Austin, 2000), and changing procedure, but also brings opportunities (ibid). After the deregulation, Mayor Bloomberg suggested that nonprofit organizations should operate like businesses to raise funds for their operating costs and to make profits. NYU Downtown Hospital begins to raise funds to increase its revenue and to cover its operating costs without fully depending on government funds. Fundraising effort brings the hospital to come in contact with the Lehman Brothers from the Lehman Brothers Foundation who made a substantial contribution to the hospital. In recognition of its donation, the hospital built the Lehman Brothers Emergency Center with a new state-of-the-art emergency facility and whose size is twice its current size and can handle triple the capacity.

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