Independence The ethics component of independence requires medical accounting personal to avoid conflicts of interest. The aim of the article is to address financial management practices of healthcare organizations in the USA.
Other acts that can cause people to question the ethics of accounting personnel is the receipt of expensive gifts from suppliers. Conflicts of interest with vendors and other medical services can lead to inflated pricing of products and services in an attempt to maximize the earnings of outside interests.
Otherwise, outsiders would have a hard time distinguishing the difference between dishonest behavior and ignorance of changes in policies and procedures.
Expensive gifts can cause outsiders to question whether the accountant is being paid off for unethical accounting practices. This system would provide a guideline for reporting appropriate budgets, plans, financial statements and other performance based standards Parry, Further links with regards to ethical practices and its importance in gaining competitive advantages in different industries would be assessed.
The paper would discuss four elements of financial management and then carry on to list different acceptable financial standards practiced in US based healthcare organizations. Acceptable Financial Ethical Standards Some of the acceptable financial ethical Discussion Four Elements of Financial Management Efficient financial management of public organizations is dictated by a theory which proposes four essential elements.
Reporting Practices and Ethics Introduction Healthcare finance has been streamlined with financial reporting practices and ethical standards. The accounting staff is responsible for coding and billing the products and services you receive during your visit.
This analysis would be based on research work of scholars concerned with the field of financial management. Competency is directly related to maintaining the appearance of integrity. The next section would highlight pros and cons regarding ethical standards and concurrent financial reporting practices.
It is hence mandated for healthcare finance professionals to be well versed with accounting principles and related ethical standards to manage and grow their businesses as well as attain competence, objectivity and confidentiality in their respective healthcare organizations.
When the responsibility of both parties conflict because of unethical practices, such as double-billing or inflated costs, the employee has a responsibility to question the practices and report them to authorities.
Integrity and Objectivity The integrity component of ethics requires accounting personnel to maintain the appearance of trustworthiness and is closely tied to the objectivity component. These elements are sequential and must be followed accordingly.
These ethical standards regulate the conduct of healthcare, in perspective of their customers and in fairness to the skill levels of the healthcare professionals. An example of how a conflict of interest would affect a patient might be when a hospital or an anesthesiologist uses a specific drug not because it is the best choice for the patient but because the supplier offers a financial incentive to use the drug.Read this essay on Reporting Practices and Ethics.
Come browse our large digital warehouse of free sample essays. Get the knowledge you need in order to pass your classes and more. Only at billsimas.com". Reporting Practices and Ethics Paper Nicole McLaughlin HCS/ December 8, 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.
Reporting Practices and Ethics Paper Samantha Beck HCS August 19, Sherida Douglass Reporting Practices and Ethics Paper In all organizations accounting is.
Free research that covers introduction healthcare finance has been streamlined with financial reporting practices and ethical standards. these ethical standards regulate the conduct of h.
Reporting Practices and Ethics Andy Hall HCS/ August 30, Darrell Watts Reporting Practices and Ethics Proper, precise, and ethically sound financial management and reporting is required of all healthcare organizations.
Reporting Practices and Ethics Paper Theresa Kamara HCS/ Health Care Financial Accounting July 31, Mark Williams Properly managing the financial accounts of healthcare organization is the key to the organization success.
Financial management is a crucial part .Download