The maturing role of philanthropy in healthcare

Hospital and healthcare system executives today face myriad issues that revolve around finances. Aging infrastructure must be replaced and staffing shortages addressed while pursuing costly advances in treatments and technology. Higher operating expenses, especially those resulting from care of under- and uninsured patients, continue unabated, while the adequacy of reimbursement from private and third-party sources, including Medicare and Medicaid, continues to lag. Complicating matters are concerns-and their associated costs-about patient privacy, changing relationships with physicians, and the need to provide and demonstrate community benefit (Costa 2005). Philanthropic giving is emerging as a significant means by which health systems can enhance financial resources when those in leadership positions foster a culture of philanthropy.