Ethical Decision-making in the Global Economy
Because management, and more specifically, accounting and decision-making have become so intensely important in the health care industry, the Discussion will examine several health care related issues.
Read the articles and then prepare your Discussion topic.
M. Harley recently began a new job as the accounting manager for a local medical clinic. A billing statement has just been received from GalaxyLabs, one of several such labs that perform tests for the clinic. M. Harley notices that the lab charges the clinic $30.00 for a standard blood test. The clinic, however, bills patients or their companies $120 for the test. The $120 is the standard insurance reimbursement paid on behalf of the patient. Therefore, the clinic is profiting on every blood test ordered.
After additional investigation, M. Harley finds similar mark-ups on other lab tests. M. Harley is concerned about this billing practice and suspects the clinic may have selected the lab based on low cost rather than on the lab’s qualifications. Another concern would be the accuracy of all lab test results.
M. Harley also wonders if profit potential is motivating doctors to order unnecessary tests.
Do you believe that the scenario describing the clinic’s billing for lab tests is an acceptable business practice? Discuss your reasoning.
Ethical Decision-making and the Code of Ethics
Scenario: Your boss has asked you to lead a committee to develop a code of conduct for the toy company for which you work. Write a memo to the committee members to schedule your first meeting. In your memo list the six components you believe are most important to be included in the code and explain why.
These solutions may offer step-by-step problem-solving explanations or good writing examples that include modern styles of formatting and construction of bibliographies out of text citations and references. Students may use these solutions for personal skill-building and practice. Unethical use is strictly forbidden.Managerial accounting information is useful for interstate or global expansion because it enables managers to make informed decisions with regard to expansion strategy. Management accounting supports competitive decision-making by availing vital information to help managers in planning, controlling and evaluating business processes and company strategy. In John’s case, the choice of which states to enter first will be dependent on how such an entry would affect costs. The distance the company would have to transport merchandize can have a significant impact on overhead costs, thus John must carefully evaluate managerial accounting information to identify the markets that will add the most value to the company (Davis & Davis, 2011).
There are different decisions that should be considered for interstate expansion. One of these decisions relates to the scale of operations that the expanding company should embark on based on cash flow projections. Secondly, the company...
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