Health Care Reporting Practices and Ethics

Reporting Practices and Ethics

Kris A. Kilian

HCS/405

July 23, 2012

Sherida Douglass

Reporting Practices and Ethics

In high performance health care organizations, it will possess strong internal control that is with characteristics that range from ensuring patient care, internal efficiencies, financial reporting, and compliance with regulations. Those are just a few distinguishing remarks that included in this paper, along with accepted accounting principles, corporate compliance, ethics, and fraud are discussed.

There are four elements of financial management. Planning will be used to identify the steps that must be taken to accomplish the organization’s objectives. A well thought out plan and vision should be in place before introducing the new concept to the organization. Once the plan has been established, each area of the organization should be controlling to ensure that such plan is to be executed in its proper fashion. Organizing and directing should be for the decision to most effectively carry out the established plans from the organization’s resources. Decision-making is for making the choices among available alternatives. It will help the organization to make the decision process.

Health care organizations must have accounting and financial professionals to oversee the welfare of the organization to maintain it up to its standards. Ethical standards are determined so the organization’s records can be accessible to all interested parties that involve the organization. Generally accepted accounting and financial principles have a place of standards that determine how the accountants conduct and format the financial reports. For transparency purposes and reasons, accounting, and financial records must be seen by a variety of people so there is not the opportunity to hide information in regard to the organization’s well-being. A key standard to have for finance professionals is competence. Possessing competency by a professional must have secured...