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MHC 6301 Week 4 Assignment HCO’s Board

MHC 6301 Week 4 Assignment HCO’s Board

 

The Governance Institute define HCO’s as key members in the governing with skills to solved healthcare new challenges that require actions to fulfill responsibilities over their organizations. Board members play a key role for the institution in different aspects, for example in the financial, strategic, mission, vision and values of the organization’s implementation. HCO’s are known for being key members in the governing body, they face challenges taking over multiple responsibilities of the organization (The Governance Institute, 2009). Another aspect of their job is policy implementation, evaluation of business plans, enhance creditworthiness, monitor financial statements, communicate with senior management and managing the CEO.

The Governance Institute describes the HCO’s members as the best leaders, these are the key elements for the success of an organization and their stakeholders (2009). Examples of various committees in a HCO’s Board are: Ethics & Professionalism Committee (EPCOM), Executive Committee, (American Board of Medical Specialties, 2016), Quality Committee, Finance Committee (Central Peninsula Hospital, 2016), Regulatory, Audit Committee, Compliance & Government Affairs Committee (Johnson & Johnson, 2016).

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The American Board of Medical Specialties Director’s (ABMS) was founded in 1993 to support the new advancements in medicine and technology, is recognized national wide under the non-for-profit organizations seeking for the improvement in quality care by standardizing medical practice and certifications. Their Executive Committee has the power to make all the decisions when the actual Board of Directors is absent or in meetings. The EPCOM function is to oversight and provide guidance over governing policies, procedures related to ethics and professionalism over physician practices (American Board of Medical Specialties, 2016).

Central Peninsula’s Finance Committee (CPGH) main purpose is to develop capital annual budgets to motivate staff and managers. In accordance with the Board of Director’s they strive to achieve organizational financial goals that are reviewed every month by the committee to develop strategic decisions. The Quality Committee is committed to just that, patient safety and customer service assisting with quality assurance plans; their main focus is on the integration of quality management plans and the analyzation of operational risk management. Looking for trends observed from patient care data collections and infection control. (Central Peninsula Hospital, 2016).

The Audit Committee report assists the Board of Directors by overseeing financial management, reporting company procedures from independent auditors and preparing the Report of the Audit Committee as mandated by the SEC rules. The Regulatory, Compliance & Government Affairs Committee reports to the Board of Directors from the oversighting of governmental issues and compliances of standards that could impact organizations. This is done by stablished standards and the enforcement of quality product, quality compliance and policies program (Johnson & Johnson Services, 2016).

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