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Reporting Practices and Ethics Paper

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Reporting Practices and Ethics Paper

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  • November 2010
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Reporting Practices and Ethics Paper
Yusara Millan
University of Phoenix
HCS/405
Kathleen Galuszka
November 16, 2010

Reporting Practices and Ethics Paper
Reporting Practices and Ethics Paper
In the health care environment financial practices and ethical care finance is very important to produce successfully organizations. In the health care industry and in any business ethical and financial practices are adopted to increase the organization value and consumer confident as well as protected the services or products provide by the organization and maintain the organizations brand name. In the health care industry no patient will want to attend a hospital in which the dead rate is above 50 percentages annually, it will be contradict. In this paper will explain the importance of understanding the financial and ethical practice in the health care industry to avoid fraud and illegal accusations as well as the implementation of the four elements of financial management and the standards of conduct. In the health care industry tough decision are taken every day, the cost of medical services and the economy makes the health care environment challenging for the patients, physicians, policymakers, and society. The health care organizations have a very valuable program that implement code of ethics and best practice concepts, which is used for the interpretation of company transactions, assets, losses, and other accounts as well as financial reports and statements. Although generally accepted accounting principles is a very good procedure that eliminates mismanagement of accounting systems and procedure, correct abuses, and incorporate regulations, it is not require for a company to have but any organization without this financial measures are require to disclose financial information to investors and other public matter for comparison. Organizations must comply with federal, state, local, and administrative regulations. According to...