...Financial Reporting Practices and Ethics in Healthcare Jeanette Jordan 03/07/16 HCS-405 Prof. Adrian Parker Abstract Financial management is a vital part of organizational effectiveness, it is a discipline with a long and respected history. Health care service delivery is a business, and the concept of financial management assists in balancing the inflows and outflows that are a part of the business. The managers within a health care organization will generally have one of three views the financial view, the process view and, the clinical view. Health care managers must of necessity interact with one another. Thus, managers holding different views will be required to work together. So, health care managers who understand health care finance will be able to interpret and negotiate successfully such interactions between and among viewpoints. (Mohamed Refaat, 2016) There are four elements of financial management planning, controlling, organizing and, decision making. In planning the financial manager identifies the steps that must be taken to accomplish the organization's objectives. Thus, the purpose is to identify objectives and then to identify the steps for accomplishing these objectives. In controlling the financial manager makes sure that each area of the organization is following the plans that have been established. In organizing the financial manager decides how to use the resources of the organization to most effectively carry out the plans that have been established...
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...Seminar 3 Short Paper – Healthcare Reform Philosophy of Ethics Healthcare Reform According to Teitbaum & Wilensky (2007), policies developed in different industries form an integral part of how individuals perform various activities aimed at assisting the society. Signing of Patient Protection and Affordable Act by the United States by President Barrack Obama led to a lot of changes in the health sector. The introduction of healthcare reform in the health sector act brought about many reforms that ensues affordable healthcare services to all regardless of financial status. The healthcare reform ensures every American citizen has a private or government insurance to take care of their hospital bills. In addition, more than 60% of citizens have their insurance covered by employers while Medicaid covers most low income earners, disabled people and people over the age of 65. Healthcare reform has introduced both virtue ethics and care ethics in the health sector through human resource capacity building and development and knowledge sharing as well as information management systems. The ethical issues that relate to health care requirements should ensure that clinicians and physicians have adequate training on how to handle ethical values in health problems. The health care practitioners are obligated to understand the ethical frameworks as well as moral theories related to influencing health care practices positively. Healthcare reform must follow a clear moral foundation...
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...Personal Ethics: My nursing ethic Swaranjeet Kaur Sidhu Grand Canyon University: NRS-437V 03/22/2014 My Nursing Ethic People have their own views on certain issues. In the healthcare field many nurses will encounter ethical issues which may place themselves in a dilemma. “Ethics is that branch of philosophy dealing with values relating to human conduct, with respect to the rightness and wrongness of certain actions and to the goodness and badness of the motives and ends of such actions.” (Ethics, 2014). A nurse or healthcare worker might have personal values that get in the way for a patient to receive the adequate care they require. Sometimes having personal values become an important factor in the nursing practice. A nurse’s personal, cultural, and spiritual values contribute to practice in nursing. In nursing school students learns about different types of ethical principles that is applied to their nursing practice. The students are taught a specialized body of knowledge, standards of their practice, and how to deal with different individuals according to their selected professional. “The nurse, in a professional relationships, practices with compassion and respect for the inherent dignity, worth, and uniqueness of every individual, unrestricted by considerations of social or economic status, personal attributes, or the nature of health problems” (ANA, 2008). In the nursing field the nurse is expected to deliver good care, respect the patients and their decisions...
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...Ethical decision making is required when the healthcare executive must address a conflict or uncertainty regarding competing values, such as personal, organizational, professional and societal values. Those involved in this decision-making process must consider ethical principles including justice, autonomy, beneficence and nonmaleficence as well as professional and organizational ethical standards and codes. Many factors have contributed to the growing concern in healthcare organizations over ethical issues, including issues of access and affordability, pressure to reduce costs, mergers and acquisitions, financial and other resource constraints, and advances in medical technology that complicate decision making near the end of life. Healthcare executives have a responsibility to address the growing number of complex ethical dilemmas they are facing, but they cannot and should not make such decisions alone or without a sound decision-making framework. Healthcare organizations should have mechanisms that may include ethics committees, ethics consultation services, and written policies, procedures and guidelines to assist them with the ethics decision-making process. With these organizational mechanisms and guidelines in place, conflicting interests involving patients, families, caregivers, the organization, payors and the community can be thoughtfully and appropriately reviewed. It is incumbent upon healthcare executives to lead in a manner that sets an ethical tone for their...
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...Date Instructors Name Abstract Ethics are paramount to the healthcare management field, and the American College of Healthcare Executives has undertaken a number of initiatives to demonstrate the organization's commitment to ethics and support its members in making ethical decisions. (ACHE, 2013). This paper will examine the influence of individual ethics on decision making within the health care industry. It will discuss what the self-assessment taught me about my own ethical decision making, the effect of professional ACHE standards on my own ethical decision making, how individual ethics influence my decision making, and what strategies I can adopt to improve my ethical decision making in the future. Self-assessment Results The American College of Healthcare Executives (ACHE) offers a self-assessment in which you examine yourself enabling you to learn more about yourself. The self-assessment is not a scoring assessment and therefor requires each individual to recognize the areas in which they have strong ethics, and areas that may need improvement. Any questions answered with “always” identified an area of potential weakness where ethics could be compromised. The self-assessment enabled me to see my strengths and weaknesses so that I could identify the areas in need of improvement. ACHE Standards ACHE standards have been established to help educate healthcare professionals regarding ethical decision making. Healthcare executives are often faced with difficult...
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...Practices and Ethics Erica Bolden May 5, 2013 HCS/403 Marcia Smith Practices and Ethics Two major necessities needed to manage a health care organization financially are outstanding ethical standards and reporting practices. Reporting financial data reports is important and information must be accurate and factual. Organizations obtain and maintain financial data to aid in the audits of the amounts, control, and potential uncertainties of cash flows. Keeping the financial data current is important because majority of the time the data contains information about the organization’s equity and economic resources. Developing and analyzing ethical standards carefully allows organizations to stay in compliance with those standards formed for the health care community. Poor ethics and financial planning sometimes effects consumers. According to Nelson (2011), “Basic ethics principles that make up our common morality, including respect for patients, acting in patients’ best interest, avoid bringing harm to patients and treating patients in a fair and equitable manner, serve as the foundation for healthcare values.” This paper will contain a summary of the four elements associated with financial management, generally accepted accounting principles, and general financial ethical standards. The reader will explore Examples from two articles “Ethical Decision making for healthcare Executives” and “Ethics: A foundation for quality” that reflect ethical standards of conduct, financial...
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...Professional EThics Professional Ethics Legal and ethical issues are frequently encountered in the health care setting and present unique challenges to health care professionals. Practicing nurses need to be knowledgeable with these concepts to ensure patient’s rights. In this paper, the author will describe the relationships between legal and ethical issues. In addition, the author will identify personal values and professional ethics and examine ethical theories and principles. Examples of applications of legal and ethical issues to current practice will also be provided. Relationships Between Legal and Ethical Issues “Ethics is the branch of philosophy concerned with evaluating human action” (Guido, 2010, p. 3). It is based on the principles of right and wrong and provides structure to behaviors and actions. Ethics are closely intertwined with morals and values. Morals are “personal principles that are acquired from life experiences, family and peer relationships, religion, culture, and the law” (Guido, 2010, p. 3). Values are “personal beliefs about the truths and worth of thoughts, objects, or behavior” (Guido, 2010, p. 3). Therefore, ethics are subject to an individual’s personal interpretation. In contrast, laws are rules and regulations established by some authority and enforced by judicial decision (Dictionary.com, 2011). The legal system governs actions and behaviors without regard to personal values, beliefs, and views. Laws are constantly evolving to...
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...Code of Ethics Paper Tina Young HCS 335 February 11, 2012 Susan Morgan Code of Ethics Paper Nathan Smith Davis founded the American Medical Association (AMA) in 1847. The American Medical Association is a prestigious organization that bases its principles on core values and a code of ethics. The AMA mission statement that reads, “To promote the art and science of medicine and the betterment of public heath,” reflects their social responsibility and commitment to America’s health care industry ("American Medical Association", 1995-2013). Their ethics committee supports healthcare institutions and medical professional pursuing scholarly research. The goals of the American Medical Association are to improve the healthcare system for patients and medical professionals while establishing acceptable ethical behavior. This paper will address the association’s goals and social responsibility. Team B will analyze the relationship between the mission statement, code of ethics, and core values that are leadership, excellence, integrity, and ethical behavior. When establishing ethical policies from a theoretical standpoint, the relationship between the association’s culture and ethical behavior play a huge role in decision-making. In conclusion the team will discuss the importance of the “fit” between the ethical values of the American Medical Association’s current and potential members. The American Medical Association (AMA) is here to promote the art and science of...
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...Reporting Practices and Ethics Paper Nicole McLaughlin HCS/405 December 8, 2014 Jack Heinen Reporting Practices and Ethics Paper This paper will seek the financial reporting practices, ethical standards, accounting principles, corporate compliance, ethics, or fraud and abuse in the articles that was chosen to be reviewed. Financial reporting in a medical office or a healthcare organization relies on financial data to be close to real time as they can get it. The financial reporting has advantages such as analysis, visualization, and assistance in decision-making ("Financial Reporting", 2009). Chief financial officers use the financial reporting to help identify the profits and the cost of the healthcare organization. Financial reporting will lead the financial personnel to quantified, data-driven choices which will benefit them with accurate planning, forecasting, and budgeting ("Financial Reporting", 2009). Financial reporting can aid in to reduce a cost, profitability, predict and respond to changes in the market ("Financial Reporting", 2009). Ethical standards in a healthcare organization should be guided by integrity, serves as a role model, and support a culture that provides high-quality, cost-effectiveness health care which helps the ethical behavior and practices of individuals throughout the organization ("Creating An Ethical Culture Within The Healthcare Organization", 1992-2011). It does not matter if the person is a gift shop manager or a CEO of a four star...
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...Ethics and morals are integral to the successful process of healthcare, especially within the confines of the law. Healthcare professionals and patients are continually faced with ethical and moral challenges that can test an individual and a healthcare organization. Although morals and ethics have basic, subtle, differences, simply put, ethics is the simple science of morals, and the moral aspects that arise are the basic active practice of those ethics. Ethics are the moral systems or followed code, the principles and series of rules of proper conduct and solid, sound decisions. Moreover, it is the study of the values relating to human behavior. Ethics is the philosophical branch that seeks to clearly grasp the nature, command,...
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... Patient Confidentiality: Ethical Implications to Nursing Practice Grand Canyon University: NRS 437 April 3, 2012 Patient Confidentiality: Ethical Implications to Nursing Practice Patient confidentiality is a fundamental practice in healthcare and it is integral part of healthcare ethical standards (Purtilo & Dougherty, 2010). According to the American Nurses Association (ANA) code of ethics “the nurse has a duty to maintain confidentiality of all patient information”(Nursingworld, p.6). When confidentiality is breached the nurse may jeopardize the wellbeing and safety of a patient. There are some exceptions to this duty such as a greater need to protect the patient and other parties or mandatory laws that protect public health (Nursingworld, 2012). The situation presented in the article Betraying Trust or Providing Good Care? When is it okay to break confidentiality? Creates an ethical dilemma for the fictional nurse caring for a teenage patient diagnosed with a sexually transmitted disease as well as related cervical cancer. The nurse eventually notifies parents because of the need for further treatment that will require consent of parents. She also notifies the teenage patient’s school because of a concern for public health. Several valid concerns are presented in this article. First, when a patient’s confidentiality is betrayed that patient may not give full information to the healthcare team in the future. The patient might decide not to seek medical...
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...office of student disabilities. Abstract This term paper for unit two review three articles, Ethics Consultation in United States Hospitals This term paper also defines 8 financial terms. Keywords: Balance sheet, Shareholder Equity, EBITDA, EBITDAM, Financial Ethics, Financial Benchmarking, Financial Trend Analysis, and Ratio Analysis. Unit 2 Term Paper Business ethics is the appropriate business guidelines and customs regarding debatable issues, like the way a CEO runs his company, illegal stock trading, corruption, business social and monetary obligations. The government’s authorities frequently enforce business ethics, still there are times when businesses alone will use a straightforward structure that organizations can abide by so that they simply may benefit the public interest (investopedia.com, 2013). Article Review The first article chosen for this assignment, is Betsy Gallup’s article Ethics Are an Important Part of Running a Health-Care Facility, and she explains ethics as having three components: independence, integrity and objectivity (2009). The article continues by explaining ethics in the healthcare sector; as patients’ at a healthcare facility or hospital we expect to receive fair and ethical care from the facilities medical professionals attending to us. One expects the same ethical behavior from the healthcare workers that handle the coding and billing for one’s hospital stay (Gallup, 2009).Gallup tells...
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...Reporting Practices and Ethics Paper HCS/405 March 7, 2016 Reporting Practices and Ethics Paper Generally accepted accounting principles (GAAP) represent the general rules, standards, and practices that are used in accounting. GAAP are required for businesses when reporting financial records. When preparing financial statements, a company’s accountant is mandated to use these principles before they issue these statements to investors and other entities outside of the business. The objective for these standards are to assist in ensuring that ethical accounting practices occur wherein investors and creditors have the confidence that companies are truthfully reporting their financial solvency. In summary, the GAAP are responsible for ensuring that companies ethically record measurements at regular business intervals, prepare and summarize economic information in accordance to ethical standards, accurately measure economic activity, and truthfully disclose information about economic activity. Corporate compliance, ethics, or fraud and abuse Medical fraud and abuse in the healthcare industry is a rampant occurrence that significantly impacts not only healthcare in America but also the entire economy. Fraud and abuse within the healthcare industry can account for approximately 15 percent of annual expenditures. This represents up to $170 billion annually being lost because of fraud and abuse in the healthcare industry. Although the federal government has consistently...
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...Accounting Ethics in Healthcare HCS/405 Dr. LaTrina Frazier Accounting Ethics in Healthcare The four goals of good healthcare are to relieve symptoms, cure disease, prolong life and improve quality of life. Access to healthcare has been a perpetual challenge to healthcare providers who must take into account important factors such as equity, efficiency and effectiveness (Maharaj & Paul, Jul 2011, 98) Your customers expect to receive quality medical care at your medical clinics and/or hospitals. They also expect to receive fair and ethical treatment from the staff. This include the accurate and timely billing for services. The non-clinical team is responsible for coding and billing the products and services provided to our customer during their visit. This back office process is seen as part of the overall service provided by your facility. At the end of the day a health care businesses first priority is to provide the best quality service possible to its patients. Keeping the welfare of your patients as the priority leads to good decisions, this is definitely true in any healthcare business. With all of the current financial challenges in our economy, that has reduced reimbursements and add to this the fears of the healthcare reforms. Hospitals are being challenged on all sides, and they need to be able to count on having ethical business partners and employees to help them continue to deliver the highest quality care. As employees in...
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...Concepts Analysis Paper Demis Rey BSN Theoretical Foundations of Advanced Nursing Kaplan University March 10, 2014 The concept of Quality has a close relation with nursing practices. Higher quality healthcare is the common goal of all healthcare team and improving healthcare quality has become the common focal point of all healthcare organization. Quality has become an important issue for healthcare facilities facing a changing of healthcare environment (Tsai, & Wu, 2013). Quality is derived from the Latin “quails” and is defined as essential character of nature…an inherent or distinguishable attribute or property, a character “trait” and is defined as superiority of kind and degree or grade of excellent (Wicks, & Roethlein, 2009). Every quality expert defines quality somewhat differentially, and there are a variety of perspectives than can be taken in defining quality. The most widely concept of quality is the Industrial Organization Society (IOS) definition as “the degree to wish a set of inherent characteristics fulfill requirements” (Wicks, & Roethlein, 2009, p. 85). The psychological concept is closely aligned with the dictionary definition when quality relates to logic: “quality is the positive or negative character of a proposition” (The Merriam-Webster Dictionary, 2014). Quality is a set of characteristics or properties, as supported by the multidimensional definitions of quality. Quality can focus on excellence or can be viewed as the degree of a...
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