Codes of ethics refer to the values set aside in a company that expresses the company’s obligation to the stakeholders. It comprises on how they plan to execute their vision and mission statements as well as providing guidelines to the employees on how they should behave ethically. Therefore, the company should place emphasis on the code of ethics that touch on the customer and employee relationships. One of the main objectives of a company is to increase the profitability levels (Harman & American Health Information Management Association, 2006). Therefore, the company should establish good social relationships with the customers because they determine the company revenues.
Good customer relations help the company to win the customer loyalty thereby enhancing customer attraction and retention. It is a guarantee to the firm of a constant revenue flow that helps in the daily operations of the company. The satisfied customers also market the organization through a word of mouth and referrals. Therefore, it is imperative to consider the customers in every decision that the firm makes. The public image of the company improves when the customer needs and wants are met and satisfied. The firm should also meet the tastes and the preferences of the customers to attract more and retain them.
It is crucial to include the standards of the ethical coding in the procedure and policy manual. The manual provides the employees with reference and they are able to refer to them when confronted with an ethical dilemma. On the other hand, the firm can also show their facts when the employees violate the ethical coding or provide evidence in a court of law. Moreover, it is essential to review the ethical coding on a regular basis to enhance flexibility Harman & American Health Information Management Association, 2006). Rigidity in the ethical coding could pose a competitive disadvantage to a firm leading to financial losses. The regular reviews ensure that any changes in the market are factored in to avoid the market lapses and the review should be done annually.
If a coder violated the standards of the ethical coding should face disciplinary actions against them. It is done to prevent them from making future mistakes on the ethical coding standards. However, the disciplinary actions taken against the individuals should vary depending on the intensity of the loss it would cause the company. The intensity of the punishment could also vary on the standard violated. The disciplinary actions available include; compulsory and unpaid leave, firing or even giving a warning letter of the person. The warning letter is given to the coders who have made light violations on the standards while the firing of a person involved making unacceptable violations Harman & American Health Information Management Association, 2006).
The imperfections in coding affect the budget preparation of the healthcare organizations. This is because the coders can misappropriate the funds needed to implement the ethical coding. Therefore, they can lead to either budget deficits or surplus which results in the inadequate allocation of the hospital resources. Nonetheless, the coders should consult each other to minimize the chances of errors that increase the financial burden of the firm. There are also chances where the imperfections of the ethical coding affect the contracts between the professional bidders and the healthcare organizations. To correct the violated standards, the healthcare organizations are forced to revise the contract so as to increase the time frame to facilitate the corrections. As a result, the hospitals suffer from financial expenses that had not been planned (Harman & American Health Information Management Association, 2006).
Reference
Harman, L. B., & American Health Information Management Association. (2006). Ethical challenges in the management of health information. Sudbury, Mass: Jones and Bartlett Publishers.
