Article # 7 (due 11-2) – Essay Example
Health Care Financial Management: Reporting Practices and Ethics al affiliation Health Care Financial Management: Reporting Practices and Ethics
Reporting practices in an organization account for the highest percentage of the safety of finances for health care providers. Reporting of ethics and practices ensures that the finances received from patients go through the right channel and get into best use. According to Marvin (2012) health care organizations should pay attention to the accounting practices and show adherence to the financial management procedures.
Reporting practices in an organization ensure that, with the continuing rise in the costs of health care, the management can manage the budgets rather than leaving the task to consumers particularly patients. According to the study works of Marvin (2012) the services that health care providers offer and the criteria of payment for these services affect the operations of the organization, whereby, if the ethics are not in consideration, massive losses.
The health care providers should ensure that the financial environment of the organization is conducive by providing the best health care facilities. The facilities include a superb information system for the recording of information. This ensures that all information is in one concrete data base and patient information is not at risk of getting in the wrong hands.
Impact on the health care organization and its financial operations
According to Marvin (2012), maintaining a proficient reporting practice has a positive implication on the final financial records of the organization. This is to ensure that the financial management of health care providers is efficient to reduce the losses that accrue due to poor reporting practices. To maintain the safety of the financial records, the management to maintain a robust reporting system.
Marvin, D. (2012, August 6). Health Care Financial Management: Reporting Practices and Ethics. Modern physician, 20-21.