Healthcare Finance
The relationship between the doctor and a possible patient is established when the physician asks the person for the first time as how he could be of possible help. This direct and simple enquiry is the beginning of the trust of the patient that has to be put in the physician for any treatment to proceed. The patient is in need of help at that time, and has to trust the professional for getting the help and the patients want to do it. They need a person to take care of them during their period of suffering from illness. This relationship between the patient and the physician in the financial sphere also involves the same amount of reliance, confidence and trust, as otherwise, not treatment can be undertaken. This makes it essential that the physicians clearly mention to the patients when there is any conflict of interest in their relationship to the patients. (The Core Program: Trust and the Patient -- Professional Relationship)
How this relationship is explained in financial terms is however a very different matter and raises many questions for the professional as also for the patient. In the very beginning the patient has been asked the famous question and with his active reply, the patient has shown his trust in the physician. The continuation of the trust depends on the behavior of the physician, and he has to carry the relationship on. When the mutual trust is set up, only then can the relationship be expected to continue for a future relationship. This has been clearly mentioned in the writings of different authors and they have discussed in terms of virtue ethics. For the physician to continue the relationship he has to demonstrate his four main virtues of compassion, discernment, trustworthiness and integrity.
Whenever the question of trust comes up one has to keep two aspects of the physician in mind and the first of these is the capacity of the physician to solve the problem. The second part is the sense of morality that is built in the physician. The changes in the healthcare systems that have taken place have led to a situation where there is now no direct and personal relationship between the physician and the patient. The institutions stand in between and this makes the personal aspects of the physician less significant. He is just doing his job, and this has much less of a direct, moral question. The six essential elements that exist in the relationship between the physician and the patient still have to be considered. These are competence, compassion, communication, choice, continuity and avoidance of conflict of interest. The area most affected is in comprehensible communication and that lads to participative decision making by the groups of physician and patient that is most affected. This is also highly affected by the barriers between the patient and the physician in terms of socioeconomic differences. (The Core Program: Trust and the Patient -- Professional Relationship)
The importance of good communications between the physician and the patient has been highlighted by many experts in this field. The improvement in this is expected to increase the overall effectiveness of the treatment as also the acceptance by the patients of the rules for treatment that he is expected to follow. This matter has been further studied by physician and medical sociologist, Howard Waitzkin. According to him the most important factor in the relationship between the professional and patients happened due to their differences in terms of social class. This led him to study the subject in depth and he finally concluded that the professional generally controlled patients by not giving them the full information, and the amount of information that was communicated to the patient also depended a lot on the social class of the patient. This led to those from the upper middle class getting more information from their physician than patients belonging to the lower middle of working class patients.
Health Care Finance Assets and Liabilities Assets and liabilities are found in a balance sheet. Baker and Baker (2011, p. 107) define a balance sheet as a record of "what an organization owns, what it owes, and basically, what it is worth." Item Asset Liability Cash Inventory Bonds payable Buildings Payroll taxes due Accounts payable Equipment Notes receivable Assets, in basic terms, are all those items that an entity owns. In essence, an asset should have some value attributable to it. Current assets, according
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