This website uses cookies to ensure you have the best experience. Learn more

Health South: The Scrushy Way Introduction

3589 words - 15 pages

Paper- Health South: The Scrushy way
Introduction
Richard Scrushy, Chief Executive Officer of HealthSouth transformed the Health care community by creating the nation’s largest outpatient and rehabilitation center and revered at one point as the “King of HealthCare." However, his Cooperate governance and hiring practices along his disregards of his social responsibility to his invertors and stockholder proved to be a lethal combination that not even the king of health care could recover from.
Health South CEO
Richard Scrushy, Chief Executive Officer of HealthSouth, one of the largest privately held health care companies in the United States, boasting revenue of more than $4.3 ...view middle of the document...

184). This type of behavior is unusual for CEOs, as their primary responsibility is not accounting, but it is to carry out the strategic plans and policies as established by the board of directors.
Charitable Donation & impact of on the community
As CEO of the HealthSouth, Scruchy created a culture of fear; crushing any subordinates who dear to challenge his rulings or decisions, causing employees to relinquish their principles in fear of losing their source of income. As an individual, he was known for the charities, he sponsored or donated to. Some of the more prominent charities were, the Guiding Light Church located in his home state that received 1.05 Million dollars and the Lawson State Community College receiving one Million between 2002 and 2003. (http://www.milliondollarlist.org/donors/richard-m-scrushy-charitable-foundation) Other, significant contribution such as constructing the Richard Scrushy Parkway, the Richard Scrushy Campus at Jefferson State community college (now known as the Shelby-Hoover-Campus), the Richard Scrushy building in down town Alabama and the Richard Scrushy Library are all building used to improve the community in which he belong to. It is un-doubtful that, during Richard Scrushy’s reign as “King of Health Care” the people of Alabama and the nation benefited immensely, through the creation jobs when he took a single room office and turn it into a fortune 500 company and made world calls health care access, possible for people across the nation. The company’s destruction, resulting from cooperate greed caused lay off thousands of workers, workers whose lives and families have been thrown into disarray. Millions of families had their health care disrupted or threatened HealthSouth and the company’s subsequent downsized. In addition, consider that, as of Dec. 31, 2001, HealthSouth’s employee pension plan held approximately 3.3 million shares of HealthSouth stock. Now, following indictments of its top executives, including some who are pension trustees, HealthSouth stock now trades on pink sheets at $0.165 per share in mid-April 2003, From a $31 high in 1998”(Jennings, 2012, p. 184) forecasting a remarkably bleak future not only for families invested in HHHealthSouth’s pension plan but also, for the millions of retires who’s financial advisors invested in that company as well.
Charges & Investigation
On March 19, 2003, the SEC charged HealthSouth and CEO, Richard Scrushy, with accounting fraud. The SEC complaint alleged that HealthSouth had systematically overstated its earnings by at least 1.4 billion since 1999.(Weld et al., 2004, p. 44) and further asserts that HealthSouth's standard operating procedure under the direction of Mr. Scrushy was to manipulate the company's earnings to create the impression that the company was meeting Wall Street's expectations. The SEC complaint aroused, when a CFO reported to the authorities that HealthSouth had misrepresented their earnings to the SEC since...

Other Essays Like Health South: the Scrushy Way Introduction

Xenophobia - Paper

1565 words - 7 pages Danelle Rossouw CMY3705 Assignment 02 43779689 CONTENTS 1. Introduction…………………………………………………………………………………………………………. 2 2. Xenophobia in South Africa………………………………………………………………………………….2-3 3. Analyses of the attacks………………………………………………………………………………………….3 4. Roots of Xenophobia……………………………………………………………………………………………4-5 5. Solutions……………………………………………………………………………………………………………….5 6. Conclusion…………………………………………………………………………………………………………….5 7. Bibliography

Describe the Manager’s Functional Role in the Organization

794 words - 4 pages optimal clinical and cost benefit decision-making especially for the high value physician preference supplies. He or she needs to coordinates trials and introduction of new supplies with the OR staff and physicians. There is no doubt about it. Back 25 years ago. The infrastructure and the methods of organization most be slow and more than likely a lot of miscommunication and mistakes. 6 Reference Mayo Clinic. (n.d.). Ascension Health Partners with centers for medicare and medicaid services to provide patient-centered care through the pioneer accountable Care Organization Model. South University On-line library (n.d.) www.ascensionhealth.org

Nelson Mandela

2235 words - 9 pages suffered for a good portion of his life in prison, but managed to make change in the way South Africa fought for peace was Nelson Mandela. He was a leader of apartheid, a nation and the world. Nelson Mandela supported reconciliation and negotiation, and was the driving force behind the transition towards multiracial democracy in South Africa. Nelson Mandela devoted his life to the apartheid in South Africa. The word Apartheid means â

The Impact Of Changing Technology On The Everyday Life Of Australians In The Post-War Period

924 words - 4 pages entertainment such as television, computer games and the internet have raised public health and interpersonal issues in a 21st century society.Since 1950, communications in Australia has advanced rapidly. The introduction of the television in 1956 has changed the way we receive information and experience the world. Large amounts of information such as the broadcast of the first moon landing and the shaping of public opinion during the Vietnam War can be

South Africa Under “Fragile Stability”

2299 words - 10 pages INTRODUCTION South Africa is currently known as the most advanced, broad-based economy on the continent (South Africa Info, 2015). While South Africa has been developing, it has become more stable than before with its stability. Consequently, this essay will examine the meaning of the strength of state and how the strength has been changed in South Africa since 2005. Furthermore, the discussion on the current state of the nation will be

Prejudice And Discrimination

1182 words - 5 pages sufficient accessibility to health care. Poverty seems to rise as access to health-care seems to lower in my opinion. Although poverty and satisfactory accessibility to healthcare poses a concern inside the borders of the United States, this does not even come close to South African. Likelihood for this incidence could be that the United States has had a greater amount of time working as a democratic system and consequently has collected more familiarity

Bhn Introduction

559 words - 3 pages Introduction to Organization Broward Health North is part of a nationally recognized system located in South Florida that has been serving the healthcare needs of Broward County since 1961 and is one of four hospitals under the Broward Health Brand. It is a not-for-profit, tax assisted community health system offering a full spectrum of health care services. Broward Health North is an award winning, 409 - bed community hospital and level II

chronic disease

1566 words - 7 pages aging person’s perception of their health, and be educated of the safety factors affecting their health, this is a very important part of primary care. Handling the elder population needs to be addressed and the plans to meet the challenges would be a strategic plan. As the CEO of the Community South Medical Center, I would be confronting the shortage of clinical staff, which includes the register nurses, the medical technologies, and

Urban Health

527 words - 3 pages describe the whole gamut of policy interventions provided by health and social care professionals to both private and public sector institutions (Marmot, 2010). A curios and observant visitor to Peckham will notice a growing prevalence of adolescent girls with baby buggies, visiting shopping centres on a daily basis. Peckham is a ward in the London Borough of Southwark and is located within 5.6km to the South East of Charing Cross in Central

Mdr Tb Supply Chain

2530 words - 11 pages study) Second line anti TB drugs: - drugs for MDR-TB which are prescribed when the 1st line drugs fail ACRONOMY ARV-Anti retroviral HFs-Health facilities MDR-TB-Multi-drug resistant tuberculosis PFSA-Pharmaceutical fund and supply agency WHO-Word health organization JUSH- 1. INTRODUCTION 1.1 Back ground Tuberculosis (TB) is a high-priority disease in the WHO African Region. The Global TB Control Report 2009[1] shows that, in 2007

Perception on the Proposed Social Health Insurance

3535 words - 15 pages insurance OECED-- Organization for Economic Co-operation and Development PASDEP--Plan for Accelerated and Sustained Development to End Poverty PHI-- provider health insurance SHI-- social health insurance WHO -- world health organization INTRODUCTION BACK GROUND AND STATEMENT OF THE PROBLEM Health care financing continues to stir debates around the world. Many low and middle income countries especially, keep on exploring

Related Papers

Implications Of Health South And Scrushy

1722 words - 7 pages Paper-Case study: Michael Novak: Capitalism and the Corporation Course ID: MGT7019-8-4 BY Allen L. Ray North Central University Dr. George Kalidonis Assignment #4 | | | | | | | | | | Introduction Modern businesses are facing major challenges if they plan on meeting that sensitive balance between business demands and customer satisfaction. The problem that exists is how to use the current guidelines in place

Healthsouth Corp The Enemy Within

3844 words - 16 pages servicing, or by a combination of these. Of those listed above, there was one company that seemed to be free from the deceptive practices which seemed to dominate the entire health services industry – HealthSouth Corp. Time would tell a very different tale about the health services mega giant. Background HealthSouth was founded in 1984 by Richard Scrushy, Aaron Beam, and a number of Scrushy’s close associates. It was financed with venture capital from

Bank Of America Essay

3061 words - 13 pages QUESTION 2. 5 ANSWER FOR QUESTION 3. 6 ANSWER FOR QUESTION 4. 7 ANSWER FOR QUESTION 5. 8 ANSWER FOR QUESTION 6. 8 CONCLUSION. 9 REFERENCES. 10 BANK OF AMERICA’S MOST TOXIC ASSET (CASE B). INTRODUCTION. Summary. Ken Lewis was a Chief executive officer of Bank of America, he was appointed as American Banker’s "banker of the year "after purchasing Countrywide Financial and Merrill Lynch. The bank acquisition of Merrill Lynch in 2008

United States Vs South Africa Healthcare

1255 words - 6 pages health consumes around 11% of the government’s total budget. The way the resources are allotted, and the standard of health care delivered, varies from country to country. Although there are similarities between South Africa and the United States regarding healthcare, South Africa remains at a lower level than the United States because of funding, education, medical supplies, and equipment/ machines to complete diagnostic testing. South Africa