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Health South: The Scrushy way - Research Paper Example

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There is a myth about crime that ‘it does not pays’, but perhaps crime pays when an individual has the personality to administer and lead a billion dollar company, and authority to affect the welfare of millions…
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Health South: The Scrushy way
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Download file to see previous pages In the context of the study, the author has investigated the case on the basis of business ethics. According to the author, crime sustains only for a shorter period of time. Therefore the persons who cheats other or takes unfair advantage from the circumstance of other individuals, gets distorted at some point of time from the external sources of environment. At times individuals who remain unethical even hurt themselves as well as the persons who stay around them. Impact on stakeholders A number of stakeholders are impacted by this unethical approach and dishonesty. The individual and the groups that have been affected by this phenomenon are Richard Scrushy himself, the management team of Richard Scrushy, the board of directors of the company, employees, and the patients of HealthSouth. Furthermore the Government of USA has also suffered a setback. The report will now discuss about the impact of this activity on each of these stakeholders, but before highlighting the impacts of dishonesty on stakeholders, a brief introduction about the groups are presented below. Richard Scrushy Richard Scrushy can be regarded as a self made man who loves to achieve everything in life. He was actually a school dropout, but finished his GED (General Education Development). After that he also completed his degree from the University of Alabama at Birmingham (UAB) in the field of respiratory therapy. During the period of 1984 to 1997 Scrushy built the HealthSouth. It was a multi-million dollar project and the investments were mainly done by Citicorp Venture Capital. HealthSouth was established for the primary purpose of offering large number of facilities to the patients. Some of the important ones are treating large number of patients per day, and outsized accommodation capacity. The outcome of this large investment also came forward within few years of its operation. It started to treat more than 1, 20,000 patients per day, and the earnings reached $106 million. Meanwhile during this period there were a number of allegations regarding the financial deception and breaking of ethical standards against the organization. In this context during the year 1989 Solieri, Felo, & Hodowanitz (2008) highlighted that an internal auditor was fired from the organization for the purpose of drawing attention to HealthSouth’s financial problems. In the year 1991 Solieri et al. also highlighted that the accusations by Medicare was that, HealthSouth was filling the bills that were charged against them for the indoor patients as well as the outdoor patient rehabilitation. Hence in the year 1998 Medicare modified their payment system in order to reduce payments and exploitations which may have negatively impacted HealthSouth. In addition it has been further identified that several complaints were lodged against HealthSouth by Medicare. It claimed that the company has inappropriately billed them for the purpose of therapy by interns, students, athletic trainers, and other unlicensed individuals. Furthermore Medicare stated that the company has billed amount for the services that it had never offered. It also highlighted that HealthSouth delivered poor services, never taken care of the patient; they did not have a suitable treatment plan and were also making use of unlicensed therapists for treating the patients. After all such happenings and investigations, finally the U.S. Securities and Exchange Commission (SEC) lodged a ...Download file to see next pagesRead More
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