Health care laws and how it affects working nurses Research Paper

Health care laws and how it affects working nurses - Research Paper Example Three types of laws govern the Public Health Law as previously discussed: Legislation, Regulations and Judicial Law. The legislative bodies of state, federal and local government, formulate the Legislative laws that have a considerable impact on the way nursing is practiced in the United States. Regulations are specific set of rules pertaining to individual while the legislation and Judicial law is based on the court’s and jury’s’ decision (Stanhope and Lancaster 124). Stanhope and Lancaster illustrate the impact of Regulations and the Judicial Law on nursing practice by stating that the state legislators will enact laws governing the board of nursing and will coin technical terms such as ‘licensed registered nurse’ and ‘nursing practice’, the board of nursing on the other hand will enforce the laws that will bring into existence a licensed registered nurse and recognized nursing practice procedures by stating all the requirements and pr erequisite (124). The writers express that in case of judicial law, courts take into consideration previous cases and give sentences in conformity with them except during the instances when the judge or the jury thinks that the old laws have become obsolete and a more valid form of it is needed. Everything that is done in a health agency has a basis in law and is subject to legal sanction of one type or another (qtd. in Maurer and Smith 124). This statement implies to health care workers and more particularly community oriented nursed since they have direct, face-to-face relationship with the patients. Rules and regulation in addition with those associated with the upheaval of the health industry; predominantly laws that pertain to the maintenance of discipline in the health sector and allotting punishment related to malpractice are applicable to nurses to a great extent. Nurses are regarded, as learned individuals with sound knowledge of the profession that they practice for their living, consumers are totally reliant on this particular knowledge for their treatment. If any patient is harmed in any way due to the nurses’ malpractice that according to a source Hall and Hall (2001) cited in Maurer and Smith (124), includes: Provision of unsafe environment, inadequate assessment, failure to follow physician’s order, erroneous medication and treatment, usage of defective technology and products, inadequate infection control and poor communication with the patient, the nurse would be held accountable for her actions and lawsuits can be filed against her. Nurses should be well aware of the laws and legislation pertaining to their legal practice of the state they are professionally working in, and should be well familiar also with any changes that might be introduced in the legislation of not just nursing but also in related professions such as those of medicine and pharmacy (Lancaster and Stanhope 125). These writer demonstrate the importance of inter disciplinary knowledge for the nursing profession by stating the example of a community oriented nurse who has reviewed the pharmacy act would be able to ascertain whether to question the right to dispense medication in the local family planning clinic or not. According to The Nurse Practice Act of New York, 1970 nursing is defined as: The practice of the profession of nursing†¦. is defined as diagnosing and treating human responses to actual or potential health problems through such services

Ratio Analysis Essay Example | Topics and Well Written Essays - 2500 words

Ratio Analysis - Essay Example Financial statement analysis consists of the application of analytical tools and techniques to the data in financial statements in order to derive from them measurements and relationships that are significant and useful for decision making (ICFAI Center for Management Research ICMR). The process of financial analysis can be described in various ways, depending on the objectives to be obtained. Financial analysis can be used as a preliminary screening tool of future financial conditions and results. It may be used as a forecasting tool of future financial conditions and results. It may be used as a process of evaluation and diagnosis of managerial, operating, or other problem areas. Above all, financial analysis reduces reliance on intuition, guesses and thus narrows the areas of uncertainty that is present in all decision making processes. Financial analysis does not lessen the need for judgment but rather establishes a sound and systematic basis for its rational application. In the analysis of financial statements, the analyst has a variety of tools available from which he can choose those best suited to his specific purpose. The following are the important tools of analysis. Ratios are well known and the most widely used tools of financial analysis. ... The analysis of ratios can disclose relationships as well as bases of comparison that reveal conditions and trends that cannot be detected by going through the individual components of the ratio. The usefulness of ratios is ultimately dependant on their intelligent and skillful interpretation. Ratios are used by different people for various purposes. As ratio analysis mainly helps in valuing the firm in quantitative terms, two groups of people are interested in the valuation of the firm and they are creditors and shareholders (Blackwell publishing). Creditors are again divided into short-term creditors and long-term creditors. Short-term creditors hold obligations that will soon mature and they are concerned with the firm's ability to pay its bills promptly. In the short run, the amount of liquid assets determines the ability clear off current liabilities. These persons are interested in liquidity. Long-term creditors hold bonds or mortgages against the firm and are interested in current payments of interest and eventual repayment of principal. The firm must be sufficiently liquid in the short-term and have adequate profits for the long-term. These persons examine both the liquidity and profitability of the firm (ICFAI Center for Management Research ICMR). Ratio Analysis - A strategic tool Insight into the financial situation of a company will quickly place its condition in perspective. The critical areas in any profit or non-profit organization can be summed up as follows: Scanning and using funds Planning for securing and using funds Controlling expenditure Reporting all transactions and results to appropriate parties Facts can be gathered and tentative conclusions can be