Patients and the U.S. Healthcare system

post has two assignments

Order Description

Ethical dilemma of pharmaceutical companies’ use of price gouging and its impact in nursing, patients and the U.S. healthcare system
The issue the student will write about will be an ethical issue of their choice. The paper will address the importance of this ethical issue to nursing and the current or emerging, dynamics of this ethical issue on nursing practice.
The paper will include the issue, its dimensions, relevant ethical theory and principles, the position of nursing as a profession, ethical/cultural dynamics and the writer’s personal views. Examples and illustrations will be an important part of this paper as they are in any ethical discussion. The policy section must indicate current health care and nursing policy on this issue and any recommendations or suggestions you may have for modification or changes.

Rubric:
Issue & Dimension:
* clearly demonstrates understanding of ethical issue
* issue’s importance to nursing;
* current or emerging importance of ethical issue for nursing practice
Ethical Theory & Principles:
* clearly demonstrates understanding of relevant ethical theory and principles
Ethical / Cultural Dynamics:
* 3 – 5 ethical/cultural uses of supportive examples that relate to ethical issue
Nursing Profession/Policy & Recommendations/Personal Position:
* supportive rationale to attest nursing profession’s position of issue
* rationale to support personal position/recommendations of issue

2: Financial risk

Order Description

Formulate and evaluate a business plan for healthcare organizations. (PO 4)
As with any business, there is a risk that certain pledged resources may not be available as projected.
Sources of financing for SLMC have changed over time. Historically, many donors provided financial assistance to the organization.
Sources of financing for SLMC have changed over time. Historically, many donors provided financial assistance to the organization. Discuss concerns Debbie may have in preparing her annual budget, if your organization has historically been funded by philanthropy.

Long-Term Financing in Healthcare
As we begin this week’s lesson, it is important for the nurse leader to have an understanding of how financial risk relates to the long-term financing for a healthcare organization. Last week provided a brief introduction to pro formas and their role to assist in the budgeting process. Understanding aspects of long-term financing in healthcare can assist nurse leaders in the financial management of their responsible budget and the overall organization budget.
For a healthcare organization to thrive and be competitive, maintenance of equipment and facilities must be considered as part of the budget process. In addition, new equipment will need to be purchased, and expanded facilities may also be part of the short- or long-term plan for a healthcare organization to ensure their future financial viability. With these required current and future requirements, the long-term financing for the healthcare organization must be considered, and a plan should be in place to ensure that the needed resources are available to pay for needed expenditures. Nurse leaders should be involved in the decision making for specific long-term financing.
Long-term financing is a source of money available to the organization that can be used for longer than 1 year (Finkler, Jones, & Kovner, 2013). The major sources of long-term debt include: mortgages, leases, bonds, and long-term notes. Sources of equity financing for healthcare organizations include philanthropy, grants, stocks, and retained earnings. Philanthropy refers to gifts or donations provided to the organization (Finkler, Jones, & Kovner, 2013). Gifts may range from small to large amounts. In some cases, philanthropic departments can secure millions of needed funding dollars for an organization.
Historically, government grants were a financing option for healthcare organizations. However, many healthcare organizations do not consider this a viable financing option. In 2009, the American Recovery and Reinvestment Act provided some funding to healthcare organizations to assist with the needed health-information expansion (Finkler, Jones, & Kovner, 2013).
Some healthcare organizations also employ a specific grant writer or a grant-writing department to focus on securing grant funding from a variety of sources. The organization and the grant department may target certain funding opportunities or sources for a specific expansion project, a new service line, a research study, or to assist with creative nurse recruitment and retention efforts. This is not considered a stable and secure funding source by the organization.
Another option for long-term financing of healthcare organizations is the issuance of corporate stocks. The issuance of corporate stocks is generally available to for-profit organizations rather than nonprofit organizations, due to the financial risk. When company stock is issued, a benefit to the stock owners is that they can receive dividends or a distribution of profits. Many for-profit organizations have a mixture of stocks and debt, as some of the payments for financing can become tax deductible, which lowers the payment of taxes to the government (Finkler, Jones, & Kovner, 2013).
Retained earnings are another source of financing for healthcare organizations and are a critical factor for the long-term survival of a healthcare organization. In retained earnings, the profit a healthcare organization makes each year is paid to the owners in a dividend or retained in the company (Finkler, Jones, & Kovner, 2013). The money retained can be used to finance the organization where it is deemed necessary.
Financial Risk
As with any business, there is a risk that certain pledged resources may not be available as projected. For example, an organization is pledged a certain amount of money, which is factored into the future organization resources, only to discover there may not be the full amount available. In order to secure the promised funds, organizations have now hired their own lawyers to have legal documents signed by the individual(s) who will have oversight over these funds to ensure that the promised funds are paid to the healthcare organization. This legal agreement will ensure that the healthcare organization receives the funding for the set amount and over the set period to help secure the long-term financing of the organization and avoid future financial risk of the organization. For example, one person’s estate indicated a certain healthcare organization would receive $5 million. However, the organization was to receive $1 million per year, for 5 years. These dollars may be designated for a certain department, for research or scholarships, or the general organizational budget. This type of funding is extremely important to a healthcare organization, and in order to ensure the total funds will be received, the needed legal documents must be signed.
Many organizations also have annual fundraising, asking their employees to donate to the organization. Generally, these donations can be withdrawn directly from the employee’s paycheck, which can make the process easier for the employee who is donating and also ensure that the organization receives the pledged funds, which reduces the financial risk of not receiving the pledged dollars.
Summary

Financial risk