Financial Ethics in Healthcare

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“Financial ethics in healthcare”

With no ethics come dishonesty, disloyalty, fraudulence, and a host of other bad qualities. These qualities are total opposite of what one would need to possess if they were handling any form of business in the healthcare field, particularly in the finance department. When working with funds it is important to keep morals and ethics extremely high because when no one is looking is really when you’re being tested. Sometimes, humans tend to let financial issues burden them down to the point of giving up. If a person going through a tough time in life was to have access to a large amount of money, it would be imperative that this individual possessed high morals and strong ethics. Healthcare executives are always responsible for overseeing and finalizing ethical decisions and ethical decision making, including finances and budgets. Healthcare executives are equipped with authoritative powers to make life-changing, good or bad, decisions so they must use not only good but great judgment at all times. When making important decisions regarding monies and the allocation there of, executives must also be sure to keep a level head and sound reasoning. Emotions can never play a part in executive decision-making, especially when it’s regarding monies. 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. (ACHE 2011) The American College of Healthcare Executives revised an article in November of 2011, originally published August of 1993, breaking down ethical decision making for healthcare executives. This article gives examples of “tools” that an efficient healthcare organization will have in...
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