2 PROPOSE ORGANIZATION FOR ANALYSIS Running head: PROPOSE ORGANIZATION FOR ANALYSIS 1

2
PROPOSE ORGANIZATION FOR ANALYSIS
Running head: PROPOSE ORGANIZATION FOR ANALYSIS
1
Propose Organization for Analysis
Milestone 1
IHP 620 Economic Principles
February 6, 2022
This report is centered on The Cleveland Clinic Foundation, which is one of the oldest healthcare organizations within the United States of American Healthcare sector. The institution boasts of approximately 100 years of existence and service delivery to the United States of American citizens (Roberts, 2018). The organization majorly aims at providing general health and rehabilitative services to the members of the Cleveland community and other individuals from the neighboring states (Roberts, 2018). All the donations and the profits gained by the organization are plowed back to the organization to ensure that the healthcare institution is operating effectively to offer services to the community members.
The Cleveland Foundation is recognized by the American tax system as a non-profit entity and has been issued with a Non-profit Tax Code Designation of 501(c) (3) (Roberts, 2018). The hospital is a non-profit organization since it majorly relies on donations from well-wishers and profits gained from various activities conducted by the institution. All the donations and profits are plowed back into the hospital to ensure that it operates effectively to enhance service delivery. The hospital has also made tremendous contributions in the field of medicine by engaging in various scientific research aimed at ensuring quality public health.
The institution’s financial statements are subject to change due to various changes in the economy and the market. Consumers in the market tend to opt for economic services to satisfy their urgent and recurring wants. The organization offers services at achievable rates, and hence the demand for their services in the market increases, resulting in increased revenue. When the consumers of their services are in extreme need due to various aspects of the market, their revenue will increase. This is a result of the aspect of the law of diminishing marginal utility (Alvino et al., 2018).
 
 
References
Alvino, L., Constantinides, E., & Franco, M. (2018). Towards a Better Understanding of Consumer Behavior: Marginal Utility as a Parameter in Neuromarketing Research. International Journal of Marketing Studies, 10(1), 90. https://doi.org/10.5539/ijms.v10n1p90
Roberts, K. S., Mike Tigas, Sisi Wei, Alec Glassford, Andrea Suozzo, Brandon. (2018, May 9). The Cleveland Clinic Foundation – Nonprofit Explorer. ProPublica. https://projects.propublica.org/nonprofits/organizations/340714585