105ip5 - Running head: ELEMENTS OF BUSINESS 1 Elements of...

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Running head: ELEMENTS OF BUSINESS 1 Elements of Business in the Healthcare Industry Julie Hamrick AIU Online
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Running head: ELEMENTS OF BUSINESS 2 Abstracts Today’s technology is ever changing and it is important to keep up with it for the company and for patient safety. There are many dynamics to operating a business in the healthcare industry. There are many roles of management and lots of factors to incorporate, such as operational issues, financial issues, and the impact of potential changing factors as that in technology. An organization has to consider the legal, social, and economic environments when looking in to its future.
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Running head: ELEMENTS OF BUSINESS 3 Elements of Business in the Healthcare Industry The legal environment can simply be described as the laws and regulations that a business has to follow in order to make sure the owners do not get arrested and go to jail or the business get fined for noncompliance of some regulation (Witiger.com 2010). In the last several years increased attention has been focused on the importance of health information for healthcare quality improvement. This has lead to electronic medical records and electronic health information systems designed to facilitate the use of healthcare data. Health information technology reinforces many legal doubts related to the sharing and disclosure of health information (rwjf.org n.d.). This is what we in the healthcare know as HIPAA, it’s a privacy rule that provides federal protection for personal health information to patients, but at the same time permits the disclosure of personal health information needed for patient care. Social environment or culture environment is an attribute of groups, and consists of a range of behaviors and relationships in which individuals engage in their private and personal lives including: the characteristics of the population, values and attitudes, lifestyles and relationships (Wetherly n.d.). Some reasons social environment would change are that patients develop new needs and wants, new competitors enter the market, new technology and/or
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This note was uploaded on 02/06/2011 for the course BUS 105 taught by Professor Unk during the Spring '10 term at AIU Online.

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105ip5 - Running head: ELEMENTS OF BUSINESS 1 Elements of...

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