Health care systems rely heavily on good business principles to be successful. Business principles outlines the structure of how a business will be managed and operated. More importantly, it sets standards and establishes core values for consumers. In a health care system, business is sought from patients. This discussion board will discuss three business principles that are necessary to uphold safe, quality, patient-centered care that is financially sound, if the principles are exercised at my current facility, the reasons why the principles are pertinent in health care, and an explanation of why the principles are of significance. The first business principle that is associated with patient and system cost is manage cash flow very closely (Fisher, …show more content…
Integrity is one of the most essential principles in business practice. Without integrity, the reputation of a business can suffer unrepairable damages in which consumerism becomes nonexistent. Integrity must be built into the organizational infrastructure in health care to build a foundation of ethical integrity and adopt a culture that prioritizes this value (Mantel, 2015). I chose this business principle because I strongly believe that integrity is the heart and soul of a business’s character. Character reveals the core of business standards and is vital to sustain trust. Integrity is incorporated at my facility under the value system, to enable communities to rely on our health care organization. Integrity is chief in health care because it encompasses the foundation of veracity and honesty. Consumers such as patients, heavily rely on integrity of health care organizations to provide the best care. Integrity is important to me because it represents a network of trust and honor. As a health care professional, ethically and morally sound decisions have to be made with
The purpose of financial measurement in healthcare is to provide the community with the services it needs, at a clinically acceptable level of quality, at a publicly responsive level of amenity, at the least possible cost. This is done by providing healthcare finance managers with accounting and finance information to help accomplish the purpose of the organization (Nowicki, 2015). When making accounting decisions about budgeting and inventory control, an understanding of economics, statistics, and operations research is needed. Major Financial Measures
One is quality control. Patients should receive quality of care at all times. For example, there has been many times in healthcare where a patient visits the doctor multiple times for the same condition. Why not provide the patient quality services from the start and send them to an Accountable Care Organization (ACO) for example for optimal follow up care until the issue is resolved. ACO’s once again, are great examples of quality control measures because they use quality reporting and adhere to meaningful use objectives (Devers 2009). The problem is that not all healthcare facilities make full use of quality control measures. Another transferrable business practice that could improve health care is by providing a high scale quality. By this, I simply mean improving the overall patient experience, making them a
Integrity is a fundamental value that the society admires and people strive for. It is a value that requires practice on a daily basis. This quality is always voiced strongly when discussing an individual’s character. When enquiring about an individual, the response usually begins with “ …that person is an honest person or the person has integrity.” Integrity and honesty
Buchbinder, S. B., & Shanks, N. A. (2007). Managing Costs and Revenues. In (Ed.), Introduction to Healthcare Management ( ed., p. pp. -). : . []. doi: Retrieved from
Ethical principals are extremely important to understand in the healthcare field. Ethical responsibilities in any situation depend on the role of the healthcare worker and the nature of the decision being made. Healthcare administrators and professionals must make ethical decisions that can be an everyday or controversial situation. When making such decisions, it is imperative to consider the four major principles of ethics: autonomy, nonmaleficence, beneficence, and distributive. By using these four principles, ethical decisions can effectively be made. For the purpose of this paper, examined will be the example of the treatment of an uninsured homeless patient. Poor health care be a cause and a result of homelessness.
Integrity is the “consistent regard for the highest standards of behavior and the refusal to violate personal and professional code.”(Professionalism initiative, 2012) Being held accountable for your actions and acting in the best interest for your patient is a vital professional nursing role. Possessing integrity is important; “studies show nurses top the list of the most trusted professionals…and ranked highest for honesty and ethics” (Pophal, 2013). Being considered among the most trusted professions is not a difficult task. It is accomplished by nurses who consistently follow this moral code and take responsibility for their achievements and mistakes.
Integrity means just that: Everything we do is done with fairness, compassion, respect, courage and much more. Professional integrity is modeled and mentored during the educational process and provides a foundation for practice that will be sustained for the duration of the nurse leader's career.
Fidelity is following through with one’s commitments and keeping promises previously made (Yoder-Wise, 2015). These two go hand-in-hand and can significantly influence patient care. Ethical integrity is often the first sacrifice made when faced with an opportunity to rise to top. These ethical principles must not be sacrificed in my line of practice, as trust has to be established among the people I serve. An ethical leader exhibiting veracity stands firm and upholds their ethical integrity in all circumstances and situations. They are committed to telling the truth in all situations and doing the right thing. The ultimate demonstration of leadership is when a nurse’s ethical integrity stands out through demonstration of fidelity. These are the leaders who not only know the right thing to do, but who also put this into action (Holt & Convey,
Integrity is the quality of being honest and fair (“integrity,” n.d.). Integrity involves displaying high standards of ethical conduct and behaviors consistent with agency and governmental standards. Jordan has ensured throughout his time as an H.R. professional that he is remaining ethical at all times. “I have to ensure that I am aware of all policies and regulations that can affect our employees. But I also have to keep their information confidential.” Confidentiality is very important for H.R. professionals as they need to ensure that they handle confidential information appropriately, and never divulge any information to unauthorized persons. They also must serve the needs of top management and monitor their actions towards employees to be sure that all policies and regulations are followed.
Staples, Stephanie. "Integrity in Nursing: What's It All About?" NurseTogether.com. NurseTogether, n.d. Web. 16 May 2014
Healthcare is considered of one of the most complex business models in the American Industry because it is one of the only industries where the consumer actually does not technically pay for the service he or she receives (Kudyba, 2010, p. 2). When consumers go to nail salons or hair salons, he or she pays the beautician for the specific service he or she asks for. In the healthcare industry it is totally different and most consumers do not understand the complexity of this business model. The consumer actually pays insurance companies and the insurance companies pay the provider/hospital based on negotiation arrangements from the data exchanges they receive (Kudyba, 2010, p. 2).
Integrity which is demonstrated by acceptance in decision making, having honest communication and activities with ethical practices that demand trust and support
In a health care profession, people look up to those providing care and need to establish a trusting relationship with them. Since nurses are at the forefront of care in a hospital, it is crucial for nurses to show and have integrity in the hospital setting. As nurses, we are the person that is in constant interaction with the patient and the last line before administering or doing any care to the patient. Nurses develop integrity in many ways, through given situations and the need to stand up for what is right for the patient. The core value of integrity can be used in the clinical setting now as sophomore students and throughout our time as a nurse. The core concept of integrity is holding true to what is right for the patient and providing the most beneficial care to the patient.
...and regulatory standards. Their broad range of patient care, education, public health, social service, and business functions is essential to the health and well being of their communities. These roles and functions demand that health care organizations conduct themselves in an ethical manner that emphasizes a basic community service orientation and justifies the public trust. The health care institution\\'s mission and values should be embodied in all its programs, services, and activities (Ethical Conduct for Health Care Institutions, 1992).
Medical ethics refers to the relationship between health professionals and patients. The trust of patients in physicians has been vanishing. Today a lot of health care providers primary concerns seem to be in profit rather than in providing the proper healthcare to the public. Medical ethics consist of several different principles. Nonmaleficence, beneficence, justice, and autonomy are just a few of the many principals. Nonmaleficence enacts that a health care providers, can never use treatment to injure or wrong their patients. Beneficence claims that health care providers are obligated to help others further their interest. Justice requires health providers treat every patient as equal and provide equal treatment for everyone with the same