...It’s important as members of the Gainesville Community Hospital to understand what HIPAA is, how it operates, and how it affects us as healthcare providers in many ways. The Health Insurance Portability and Accountability Act (HIPAA) was passed in 1996 by congress to ensure the protection and privacy of patient health information whether that be in a clinic, hospital, nursing facility, or dental office. The major focus of HIPAA is making sure that as patient information that is being shared whether by mail, phone, or electronically that information that is disclosed is protected. There is information that as healthcare providers we need to know to protect our patient rights and ourselves as the providers. HIPAA has implemented some new rights concerning health information of a patient called Protected Health Information (PHI). The privacy rule calls all “Individually identifiable health information”, PHI. We should also be aware that there is the possibility of being fined if there is a violation or breach to comply with the rules and regulations whether they are violated accidentally or purposely. If an employee violated a HIPAA regulation without knowledge of doing so than that employee can be fined 100 per violation with a maximum amount of 25,000. The maximum penalty is 50,000 per violation with an annual maximum amount of 1.5 million. No one wants to find themselves owing this kind of money and more importantly,...
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...professional nursing practice and the Knowledge of laws that legalize and affect nursing practice is needed for two reasons: first to ensure that nurses’ decisions and actions are consistent with legal principles and second to protect nurses from legal responsibility. What are the functions of law in nursing? The law serves a number of functions in nursing: it helps structure nursing actions in the care of clients are legal. It helps establish the boundaries of independent nursing action. It assists in maintaining a standard of nursing practice by making nurses accountable under the law. There are three sources of laws that affecting nurses: Federal Regulation, Criminal and Civil law and State law. Federal Regulations have a great impact on nursing practice for example The Health insurance portability and accountability Act (HIPAA), The Americans with disabilities Act (ADA), The Patient Self-Determination Act (PSDA). Criminal and Civil law example: malpractice/negligence, defamation, assault battery, false imprisonment. State law, the foundational part of nursing practice is regulated by state law. Each state has legislated laws that define the strictures of nursing practice and gives the...
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...services provided. They are the legal fence between education and catastrophe.”The basic regulatory frameworks and acts that govern the present business operations include Sarbanes Oxley Act ([SOX], 2002), Gramm-Leach-Bliley Act (1999), and Health Insurance Portability and Accountability Act ([HIPAA], 1996).” (Ezinearticles.com 2012) The main purpose of these regulatory requirements and tools is to ensure that society as a whole reap the benefits through accountability, integrity and confidentiality. The impact on regulatory requirements is based on how they are implemented. Regulatory Requirements Effect on the Design and Equipment Many times when planning a facility for use in an outpatient clinic it is important to research the regulatory requirements for equipment utilized in the care of patients and how it will impact the over all care, safety and wellness of the organization. The design of health care facilities is governed by many regulations and technical requirements. It is also affected by many less defined needs and pressures. The facility must comply with state and local building codes, which are based on the International Building Codes. The other factors that impact regulation and the design elements of a facility are the National Fire Protection Agency (NFPA), The National Electric Code and The Architectural Barriers Act Accessibility Guidelines (ABAAG). Clinics that serve the outpatients must meet the standards of the...
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...and Global Business Applications Introduction: The study of government regulation and the competitive environment for business is relevant to all those who study business. All business candidates need to understand how the competitive environment will impact their employers and businesses. Task: Write an essay (suggested length of 2–3 pages) that describes the relationship between regulation and market structures and how regulation affects the market. A. Define industrial (i.e., economic) regulation. Industrial Regulation happens when government commissions regulate the rates or prices of natural monopolies. 1. Explain why industrial regulation exists. In a market structure of perfect competition industrial regulation is not required because there is a lot of competition and this encourages competing industries to make good use of resources, also the price of their goods are determined by the price the market will bear and consumers benefit. Whereas in a monopolistic competition there exists a market structure that could allow competitive monopolies, duopolies, oligopolies, and monopolies to charge higher than competitive prices or the use inefficient use of resources and limited supplies, creating an environment that is not conducive to the benefit of the consumer. . (McConnell, Brue & Flynn, 2012) 2. Explain how industrial regulation affects the market. Industrial regulation affects the market by keeping prices for natural monopolies such as public...
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...ministers by January 1, 2019. The question is, however, whether this is the right path to choose and whether these regulations will be able to prevent the world from any future financial markets crisis. So far, the proposed numbers themselves could hardly be described as tough, as the bounce in bank shares testified. Also, it seems that many important issues are not being addressed at all. (Plenty) But what are the issues that should be addressed? What would be the ideal regulatory state and is it possible to ever achieve it? Let us, first, start with our idea of the “ideal” international financial regulatory plan. After having researched various proposals for the international financial markets regulations, we reached a conclusion that finding the ideal path is going to represent a very difficult task and that none proposed regulation will be able to fit all the states. As mentioned in the article “Financial regulation: More questions than answers” which was posted in Businessline in the end of July, due to the variations in institutional legacies, traditions and systems in individual countries over the world, no one size can fit all. Also, however, we believe that as far as financial stability is concerned within any kind of arrangement that is deemed fit in a particular country, there is no need for a central bank to have a lead role. (Opinion) Any regulations will then require a dispassionate assessment of the reasons for the current system’s failure. The complicated issues...
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...the financial accounting system. In response, the NYSE and the NASDAQ proposed increasingly stringent independence requirements, both for overall board membership and for the compensation and nominating committees. Congress passed the Sarbanes-Oxley Act, a group of amendments to existing securities laws intended to strengthen corporate governance and the financial reporting system. These proposals and laws augment existing exchange requirements for listed firms to have independent audit committees. When costly internal regulations that are not necessary for honest corporations are imposed on all corporations that are competitors, honest corporations do not gain a competitive advantage over those who have violated the law. In some situations these honest corporations could bear higher costs than do rogue corporations. Who then benefits from such rules? First, standardized rules make it easier for the regulators to supervise the corporate subjects of the regulation. Regulators include not only government regulators and examiners but also the internal police within large organizations-that is, compliance officers, comptrollers, and accountants. Second, generally applicable...
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...as ethylene glycol butyl ether). It acts as a degreaser and is a colorless, biodegradable chemical with a fruity odor. It is on lists as being a toxic air contaminant and some animal studies indicate that these chemical produced reproductive problems. People exposed to this contaminant have reported nose and eye irritation, headaches, vomiting, and a metallic taste. However, due to low regulation levels, it is difficult for customers to know if their cleaners contain this chemical because it is not listed on the label. Federal and state governments do not regulate air pollution inside the home. An early cleaning company that branded itself as being nontoxic and environmentally friendly used this chemical in its products but did not label it in order to “protect its formula from piracy.” Companies such as Clorox Co. and S.C. Johnson also use this chemical without printing it on the label. They were able to do so when EGBE was removed from the list of hazardous air pollutants and maintains a guideline of for how to prevent chronic inhalation exposure. However, it is a guideline, not a regulation. Professors at University of California, Berkeley not that the EPA erred when it removed the chemical from the hazardous...
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...Proposed regulation: Georgia Super Speeder Law 1. State the administrative agency which controls the regulation. Explain why this agency and your proposed regulation interest you. -Office of Highway Safety controls this Georgia Super Speeder regulation. This agency and regulation interests me because as a Georgia resident I have seen the damages that speeding on a Georgia highway can cause. I have had colleagues face bad accidents as a result to speeding and this regulation punishes those drivers that break the new regulation. -This law will directly affect me so much as if I was in violation of the law; I can face an additional $200 in the ticket fee just for being in violation. This fee does not include the actual speeding ticket. 2. Describe the proposal/change -The new law will increase the amount of money that an individual pays along with the speeding ticket fee. The proposal is in place to decrease the number of deaths and accidents from the result of driving above the given speed limit. 3. Write the public comment which you would submit to this proposal. Explain briefly what you wish to accomplish with your comment. -I am in favor of the new super speeder regulation. I believe this law will decrease the amount of ‘speeders’ on Georgia highways. Georgia has a high rate of motor vehicle accidents a day and with a new law that will punish these drivers with higher fines, I believe that more drivers will take caution and actually...
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...The Averch-Johnson Effect Economics of Competition and Monopoly 1 Rate of Return Regulation This form of regulation in its purest form takes costs as exogenous and observable and forms prices on the basis of observed costs included and appropriate rate of return on capital. One of the principal criticisms that have arisen for the kind of rate of return regulation practised in the United States is that the incentive for productive efficiency are reduced. In particular the input choice of the regulated firm will be distorted. While this effect is widely quoted there are a number of misunderstandings regarding the nature and significance of the theoretical result and there has been a fairly substantial empirical literature that has questioned whether it is relevant in practice. We will look at the theoretical result to illustrate what it does or does not show and look at the empirical relevance. The key aspect of rate of return regulation is that the principal restriction on the regulated firm is that the rate of return it can earn on capital is restricted to a value s. In order for the firm to be able to finance its operations, secure funds for its investments, the firm has to be able to earn a return equivalent to its cost of capital r. As it is difficult to determine the exact cost of capital and there is a hard constraint that the permitted rate of return should not be less that r the permitted rate s will typically be above r. The usual (and somewhat misleading) statement of the...
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...There are three possible alternatives to address this situation. Let us discuss each alternative one by one. The first alternative is that company issues a warning that the toy is unsuitable for the children and thus, the whistle should be used with caution. The major advantage of this alternative is that it does not result in any financial losses as the toys can be shipped immediately. However, this alternative can attract legal consequences as the toy fails to pass the regulatory standards. Further, it is highly unethical for the company to ship the toys even without warning as it could be harmful for children. It is unethical for the company to ship the product which is unacceptable by US standards to another country, even though the regulations are not stringent in that country as it can harm the children in that country as well. The second alternative to address this issue is to reproduce the product and meet the acceptable limits for lead and repackage it at a cost of $100,000. This alternative will result in numerous benefits. First of all, it will be a ethical decision on part of the company. Secondly, this decision will not attract any legal liabilities and will allow the company to maintain its reputation. However, the disadvantage is that this option will result in financial losses of $100,000 for the company. The third alternative is to ship the manufactured product to a country where such product is legally accepted or meets the regulatory standard. This situation...
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...Executive summary One chalange that firms face nowadays is how to expand in the Multinational market and still maintain their compatitive advantages. The major issue is to decide for a favorable place or location for their new businesses. Due to our multicultural globus, every country has its specific regulations, markets, interrests, labor, trade zones, facilities and other factores that could affect the decision of the foreing expansion and the choice of the industry location. This paper illustrates the major factors that should influence such decisions. There are several types of observations, how to decide for a specific location for a company. This dicision depend strongly on the activities of the company, in other words with what type of business profile this company identifies itself. There are two major categories in our global observation what a company can be. The first one is the firms that have industrial backround, like goods production. Second one is companies that are based on service. This second category is not descused in this paper due to the less importance of the site selection decision, because it doesn’t matter whether the whole business process is situated at the same location. The communication technologie open the facility to be successfully performend even on different continet. In this paper I will be focused on the industrial corporates that is willing to take the decision of locating its factory somewhere in the global/international trade zones...
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...A monopoly is a situation in which there is a single producer or seller of a product for which there are no close substitutes. Economies of scale is the situation in which the cost to a company of producing or supplying each additional unit of a product (referred to by economists as marginal cost) decreases as the volume of output increases.A natural monopoly is a monopoly that exists because the cost of producing the product is lower due to economies of scale if there is just a single producer than if there are several competing producers. If there are multiple firms in an industry that is characterized by natural monopoly, all except the one that can attain the largest volume of output, and thus the lowest production cost, will generally exit the industry because they will not be able to compete on a price basis. Once a single firm becomes established in an industry that is characterized by natural monopoly, it is very difficult for competitors to emerge because of the very high costs for production facilities (including infrastructure) that allow a scale of output equal to or greater than that of the existing monopolist and because of the uncertainty that they will be able to oust the existing monopolist. The most commonly cited examples of natural monopolies are utilities such as railroads, pipelines, electric power transmission systems and water supply systems. Such industries are characterized by very large costs for their infrastructure and it is thus often inefficient...
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...Chapter 3: The Regulation of financial accounting Why examine theories of regulation? Better placed to understand why some accounting prescriptions become part of legislation while others do not. Accounting standard – setting is a very political process While some proposed requirements may be technically sound and logical, they may not be mandated due to political ‘power’ or influence of some affected parties What is regulation? The Oxford Dictionary defines regulation in terms of a “prescribed rule” Macquarie Dictionary defined regulation as “a rule of order, as for conduct, prescribed by authority; a governing direction or law”. On the basis of these definitions can say that regulation is designed to control or govern conduct Hence, when we are discussing regulations relating to financial accounting, we are discussing rules that have been developed by an independent authoritative body that has been given the power to govern how we are to prepare financial statements, and the actions of the authoritative body will have the effect of restricting the accounting options that would otherwise be to an organisation. ‘Free Market’ perspective Accounting information should be treated like other goods, with demand and supply forces allowed to operate to generate an optimal supply. Arguments supporting ‘free – market’ perspective Private economic – based incentives ‘Market for managers’ ‘Market for corporate takeovers’ ‘Market for lemons’ Private economic – based...
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...Natural Monopoly Telephones, Cable, and Broadcasting ___________________ ___________________ TM 584 Natural Monopoly: Telephones, Cable and Broadcasting We all hear the term “monopoly” before. If someone does not know a monopoly is defined as “The exclusive possession or control of the supply or trade in a commodity or service.” However a natural monopoly is a little bit different in meaning from its counterpart. In this paper we will be looking into the question: whether the government should view telephones, cable, or broadcasting as natural monopolies or not; and should they be regulated or not? A "natural monopoly" is defined in economics as an industry where the fixed cost of the capital goods is so high that it is not profitable for a second firm to enter and compete. There is a "natural" reason for this industry being a monopoly, namely that the economies of scale require one, rather than several, firms. Small-scale ownership would be less efficient. Natural monopolies are typically utilities such as water, electricity, and natural gas. It would be very costly to build a second set of water and sewerage pipes in a city. Water and gas delivery service has a high fixed cost and a low variable cost. Electricity is now being deregulated, so the generators of electric power can now compete. But the infrastructure, the wires that carry the electricity, usually remain a natural monopoly, and the various companies send their electricity through the same grid (Fred...
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...much plus 300% interest. That situation possibly created economic crisis for the consumer on the receiving end of the letter so why is it beyond their control to help. Public or private funds affect the well being of the economy and the government basically makes the rules and controls the interest rates of the economy. I believe that when an organization or country receives a bail out the lenders should have control of how and when the funds will be repaid. Recent events give witness to that statement because many American companies were given bail-outs without stipulations as to payback and they handed out large bonus checks to executives while cutting benefits to employees. They ability to dictate policies, rules and governmental regulations, on the other hand, is another greater power that should not be given to the lenders. You can...
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