Business Principles in Healthcare Essay

Exclusively available on Available only on IvyPanda® Made by Human No AI

Every business must be managed carefully, and every detail must receive a fair amount of attention. When it comes to healthcare, such facilities must require even more attention because they focus on people’s well-being. Performing such duties might be strenuous and expensive, and mentally demanding. As a Chief Nursing Officer, one will be faced with principles that include integrity maintenance, cash flow management, and employee motivation in the given circumstances.

To start with, a healthcare business must always maintain its integrity. It can be evident that any business field should be focused on communication, which makes integrity a vital part (Fisher, 2008). In the given facility, the integrity maintenance principle is heavily adhered to. First of all, every doctor follows an ethical code, meaning that they know of doctor-patient confidentiality. Moreover, doctors and nurses focus on honest communication with patients. For example, in my situation, I tell patients about their actual conditions and honestly answer their questions.

Another important business principle is proper cash flow management. Healthcare facility requires renovations and innovations, meaning that there will constantly be situations when new equipment or repairs will be needed (Mason et al., 2020). In this situation, it is highly necessary to implement the needed changes to not jeopardize patients’ health and well-being. For example, as a CNO, it was my obligation to manage the replacement of power generators. As a result, generators enabled the personnel to carry out their duty without problems during a storm and power outage.

The last principle is the management of employees and providing them with motivation. In the case of a healthcare facility, it is essential that the employees are rewarded and their hard work is appreciated. The employees are offered extra days off and gift cards in the given facility. This can make the workers feel heard and supported. Without these steps, the nurses and doctors will have burnout and lose the desire to provide high-quality results.

Thus, the given principles were chosen due to the impact they can bring on employees and patients. The mentioned principles are being used, providing good results and leading to the satisfaction of all parties. These principles are important to me since I believe that healthcare should be based on these values. Otherwise, no facility will be able to treat their patients, and there will be no trust and respect between healthcare personnel and patients.

References

Fisher, G. (2008). The art of business: The top ten basic business principles. Web.

Mason, D. J., Perez, A., McLemore, M. R., & Dickson, E. (2020). Policy & Politics in Nursing and Health. Elsevier Health Sciences.

More related papers Related Essay Examples
Cite This paper
You're welcome to use this sample in your assignment. Be sure to cite it correctly

Reference

IvyPanda. (2023, January 9). Business Principles in Healthcare. https://ivypanda.com/essays/business-principles-in-healthcare/

Work Cited

"Business Principles in Healthcare." IvyPanda, 9 Jan. 2023, ivypanda.com/essays/business-principles-in-healthcare/.

References

IvyPanda. (2023) 'Business Principles in Healthcare'. 9 January.

References

IvyPanda. 2023. "Business Principles in Healthcare." January 9, 2023. https://ivypanda.com/essays/business-principles-in-healthcare/.

1. IvyPanda. "Business Principles in Healthcare." January 9, 2023. https://ivypanda.com/essays/business-principles-in-healthcare/.


Bibliography


IvyPanda. "Business Principles in Healthcare." January 9, 2023. https://ivypanda.com/essays/business-principles-in-healthcare/.

If, for any reason, you believe that this content should not be published on our website, please request its removal.
Updated:
This academic paper example has been carefully picked, checked and refined by our editorial team.
No AI was involved: only quilified experts contributed.
You are free to use it for the following purposes:
  • To find inspiration for your paper and overcome writer’s block
  • As a source of information (ensure proper referencing)
  • As a template for you assignment
1 / 1