Medical ethics spans far past providing patient care and includes every aspect of the medical profession.…
1. Due by Day 7. Week 1 Exercises. Complete these problems and turn them in via the dropbox: P12-1, P12-7, P12-10, P12-14, E13-21, E13-22, and P13-6.…
This debacle started in JP Morgan’s Chief Investment Office (CIO), in the London branch of the firm. CIO’s are central to any major bank. Their purpose is to invest the difference between deposits the bank has on hand from its customers and the credit lent out to borrowers. This difference is called the bank’s reserves. With $1.1 billion in deposits and $750 billion on loan, JP Morgan’s CIO handled assets in excess of $350 billion.ii In theory, CIO’s are supposed to keep the reserves safe and to protect them against inflation. However, in reality, most CIOs will enter into more risky investments in order to earn higher returns. This is what the London Whale was doing. Still however, these investments should not be too risky and risk management and risk assessment controls are implemented to stop investments from being entered into when their risk exceeds the CIOs appetite.…
In Ethics Case BYP5-6, we are presented with a seemingly harmless accounting issue. Laura McAntee has just been hired as an assistant treasurer for a large retail store. Her new boss used to have her position but has since been promoted to treasurer. While explaining her new duties, he has asked her to date checks to pay invoices at a discounted rate, but hold on to the checks in order to gain interest on that money. He continues to explain away the practice by saying “everyone does it” and that the creditors need the business and will take it.…
Ethics are vital in health care, and every health care professional must possess ethics. Ethical concepts…
Why do we have a code of ethics in the medical profession? We as health care professionals need to understand our morals and ethical standards. “Ethics are internal to oneself; values, beliefs, and individual interpretation.” Guido (2010). The physician in this study has decided on his own that there has been no wrong doing…
Medical Law and Ethics, Third Edition, by Bonnie F. Fremgen, Ph.D. Published by Prentice Hall. Copyright © 2009 by Pearson Education, Inc.…
The concepts of ethics and laws are sometimes used inseparably, but there are instances where they are totally opposite and can lead to much debate. According to Buchbinder and Shanks (2017), “laws and ethics, overlap, with principles underlying the development of the laws, but they approach the world of health care from somewhat differing perspectives” (pg. 422). The ethical principles of beneficence and nonmaleficence are important in the healthcare organizations because it requires a positive duty of care. “In other words, it is a balancing of treatment versus the risks and cost involved” (Buchbinder & Shanks, 2017). Beneficence means providing the best service one possibly can for others, while nonmaleficence means to “do no harm” (Buchbinder…
In modern day, health care professionals are often faced with medical decisions that affect clients seeking treatment. They are faced with situations on whether to continue care, determining the direction of care, and even deciding whom they should treat. Often, these decisions present an ethical dilemma. According to McConnell (2014), the features of a moral dilemma consist of a situation where the $$$$agent is required to do each of two (or more) actions; the agent can do each of the actions; but the agent cannot do both (or all) of the actions. The agent thus seems condemned to moral failure; no matter what she does, she will do something wrong (or fail to do something that she ought to do).…
The discussion on Patrick Dismuke's condition concentrated on his incapability to improve. After reviewing his symptoms and considering possible scenarios resulting from certain kinds of treatment, such as the tube that delivered nutrients into his veins that "broke the barrier between blood and air" and became "a bacteria-laden Trojan horse, opening the door to infection", we attempted to come to a consensus on what would constitute a quality life, as deliberated among the committee. We took into consideration that after every kind of surgery, his status would be temporarily improved but ultimately decline in keeping with his body's proclivity. We acknowledged that the idea of a successful stomach transplant was remote since, as described, it had only been performed in Russia and a few times in Canada on animals; in addition, Patrick was short of being physically capable in dealing with this sort of procedure.…
What are Ethics? Ethics are standards of behavior, developed as a result of ones concept of right and wrong (Judson & Harrison, 2010). Code of ethics is a list of principles that is intended to influence the actions of healthcare professionals within an organization. Ethical principles help guide the decision-making process among healthcare workers in complicated situations. This paper will review the assigned case study and provide the reader with the ethical issues and principles.…
In the health care field there are many ethical issues that arise. But in healthcare, ethical issues are very common. Almost every decision has an ethical implication either for the primary provider, the patient, or the healthcare administrator. As stated by Larson (2013) issues such as balancing care quality and efficiency, improving access to care, building and supporting the healthcare workforce, addressing end of life situations, and dealing with limited medications and donor organs are most likely to be encountered by a healthcare administrator.…
“Medical Records” HCA 322 Health Care Ethics & Medical Law 06/11/2013 “Medical Records” 1 Some of the laws that bind the professional that works with medical records are the maintaining of patient medical information such as doctors’ orders, test results, x-rays, the prescriptions of different medications etc. Medical records must be precise, complete, and protected by a health care provider so that the Patient’s sensitive and personal information cannot be accessed by any third party. Medical records are kept by law for 7 years, and must be disposed of by a paper…
This case presents a very typical situation that people encounter while working in the corporate environment. What is ethical, what is morally correct and what is just right out against the law are the questions that we all face while working in a corporate environment. Some of the ethical questions are governed by the law facing the situation. For example while working in an investment bank you most probably have access to inside information about upcoming deals that one could possibly use for personal monetary gain or you could act as a tippie and possibly share that confidential information with others. This kind of a situation is definilety governed by the law and you can actually be charged with various insider trading laws and possibly do some jail time as well. The other situation that is presented in the case is purely about ones ethical and moral standards. The analyst either has to compromise her loyalty towards her company B&B or towards her best friend Lori. While the situation presented is not a real zero-sum game, i.e., one player’s loss does not equal to the gain of the other player. When faced in a situation like this one has to think about what decisions can be made that will have the least affect on the players involved. The analyst should not look at the situation she faces as black or white. She should rather think about other options she might have to retain her friend’s loyalty while not compromising her loyalty towards her current employer. For example, Lori has already been laid off by her current employer, Universal group. The Universal group has already broken certain ethical and moral laws by not informing about the situation to B&B. So can the analyst come up with a situation where she can get Lori immediately and legally hired at B&B and convince her to share the information with B&B. In essence Lori will not have to feel guilty about not keeping the information confidential as has been laid off and the…
Ethics are rules of conduct and moral principles of an individual which have various origins such as family, culture, and social environment. Given the diversity of people in the healthcare profession and the importance of providing care that is ethically sound and within legal bounds, it is necessary to have standard of care guidelines that outline healthcare ethics. “The goal of health care ethics is to provide health care professionals with moral guidelines that any rational person would recognize as worthy ones to follow” (Tong, 2007, p.6).…