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Ethics in Healthcare

In: Miscellaneous

Submitted By duanathomas
Words 539
Pages 3
GAAP, Ethics, Elements financial Mgmt
Rayna Harris
HCS/405
January 22, 2012 Sandra Di Pietro

When seeking healthcare patients not only demand but deserve the best care possible from the staff and the organization that they are intrusting with their care .As patients we expect and deserve honesty and integrity from the healthcare leaders, management, and personnel within that healthcare organization.
Ethics in healthcare With setting the standards of healthcare personal on the highest level, financial administrative are the final authority on financial statements, and in order for theses leaders to make good and sound decisions they must be able to trust what is written on the financial statements. A chief financial officer acts like a judge who has the final authority and must be held to the highest ethical standards (Tyler, 2004).
Most healthcare organizations experience intense financial pressures. Their financial statements are under persistent and frequent scrutiny, and things such as declining financial performance can make any healthcare organization look bad. When financial contracts are not met the organization bond rates become lower thus resulting in low-priced funds and other serious financial consequences. If this happens all eyes are on the chief financial officer, board associates, and the administration team and in turn may want to do the books differently to make the numbers look better. Financial officers may be asked to bend the rules some times and thus letting down their moral guard, but in order for financial executives steer clear of ethical maelstrom they should maintain the strength of their own convictions, and trust their gut instinct to know what is right and wrong.

Four elements of financial management
There are four know elements of financial management each one is based on the purpose of the task.
1. Planning- The

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