ETHICS AND COMPETITION IN HEALTH CARE 9
Running head: ETHICS AND COMPETITION IN HEALTH CARE 1
Life vs. Profit: Ethics and Competition in the Health Care Industry
August 7, 2014
Shawn M. Weedon
New England College of Finance
Abstract
Unethical conduct and behavior has become more of a reality in the health care industry because of the poor decisions the health insurance companies tend to make. Over the years, there has been ongoing concern regarding the unethical practices of insurance companies in the industry over the years. Historically, health insurance companies have been accused of putting more effort into gaining profits vs. focusing on life saving ethical decision making. Given the recent policy changes and the potential outcry from health insurance companies of the increased costs of health care benefits, is there cause for a heightened concern for how the changes may affect the culture of ethics and competition as it relates to health insurance companies?
Life vs.
English: U.S. Health Insurance Status (Under 65)
English: US Citizens with Private Health Insurance...
Health-Insurance-ratesProfit: Ethics and Competition in the Health Care Industry
The health care industry has changed incredibly over the years. With the most recent adoption of health care reform, these changes have sparked a little "healthy competition" amongst the players. While a little competition is always healthy, there can be those moments when the competitive nature turns the culture of an organization into an asylum for the practice of unethical behavior. It is at this point, when the ethics and culture in an organization, or industry turn sour.
The Big Three
There are several insurance companies in the health care industry, three of which hold a dominant share of customers - Aetna, United Healthcare and Cigna. Each of them have great mission statements, and they boast of the work they do in the community. It serves as a banner of their corporate social...