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Hcs 405 Ethics Essay

855 words - 4 pages

Reporting Practices and Ethics
Beth Lowery
HCS 405
October 22, 2012
Marjorie Romano

“The financial pressures experienced by most healthcare organizations are intense. Not surprisingly, financial statements receive frequent and persistent scrutiny. Declining financial performance makes the organization and its management team look bad. If financial covenants aren't met, a hospital's bond rating may be down-graded, resulting in reduced access to low-cost capital and other serious financial ramifications. For whatever reason, the board, management team, and external constituencies may want to "make the numbers look better." The heat is on the CFO to "do the books differently." Some ...view middle of the document...

Both the company's management and the independent accountants must certify that the financial statements and the related notes to the financial statements have been prepared in accordance with GAAP” (accounting principles).
Making Good Ethical Decisions
“Sound ethical decision-making by each of us is essential to Health Net’s success. We all make ethical decisions every day. Some decisions are obvious and easy to make while others are not. Decisions that involve a violation of law or Company policy are clear and easy to make. For those decisions that are not clear or simple, we use reason and our four guiding values – Honesty, Integrity, Transparency and Accountability – to make the right ethical choices.
The first thing to do is determine whether you have an ethical issue. Consider:
* Could the decision damage someone or a group?
* Does the decision involve choices between alternatives that might be good or bad, depending on your perspective, or between two “good” or two potentially “bad” alternatives?
* If you determine that you have an ethical dilemma, use these four questions to guide your decision-making process in order to reach the optimal ethical conclusion.
If you determine that you have an ethical dilemma, use these four questions to guide your decision-making process in order to reach the optimal ethical conclusion” (health net).
Compliance with Laws and Regulations
“We work in one of the most regulated industries in the world. Full compliance with both the spirit and the letter of all applicable laws, processes, Company policies and regulations is the responsibility of every associate. We are each expected to:
* Understand and comply with relevant laws, regulations and compliance processes that apply to our position;
* Ensure basic processes...

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