ETHICS AND ECONOMICS IN HEALTHCARE

Authors

  • Milica Stanković The Academy of Applied Technical and Preschool Studies – Vranje Department Republic of Serbia
  • Gordana Mrdak The Academy of Applied Technical and Preschool Studies – Vranje Department Republic of Serbia
  • Suzana Stojanović The Academy of Applied Technical and Preschool Studies – Vranje Department Republic of Serbia

Keywords:

ethics, business ethics, medical ethics, healthcare practitioners

Abstract

Ethics is a set of moral principles and values, which define what is right and what is wrong for a certain person or group of people. If any organization, institution or corporation wants to exist, survive and operate successfully in the long run, it must implement ethical principles. In today's business environment, a growing number of companies are focusing not only on maximizing profits as a business goal, but also on ethical goals. Today, more and more attention is paid to the application of ethical practices and ethical principles in business. There are five key reasons why companies and business schools are paying more and more attention to business ethics: customer requirements, company obligations to be socially responsible, external pressures from institutions and social activists, linkage between corporate social performance and financial performance and reputation management. Ethics is extremely important in the field of medicine. Medical ethics defines the doctor's duty to the patient, and emphasizes the importance of technological advances in medicine and greater patient education. The current code of ethics and ethical principles have evolved significantly. However, the basic principles remain: physicians should base clinical practice and research on the best available science; individual personal interest is secondary to the well-being of the patient, and medical knowledge is a public trust that is applied for the benefit of the patient and society. Ethics is of exceptional importance in the field of medicine, and it is crucial to introduce ethics in the curricula of medical schools and faculties. It is extremely important that ethical principles are implemented in the health system, hospitals and health corporations so that all institutions work together on the implementation of ethically based practices. The basic ethical principles in the field of medicine are: mandatory incorporation of medical ethics into curricula in medical high schools and medical schools, consistent code of ethics, fundamental safety culture, health justice, clinical ethics, legal principles, ethical treatment of health resources, ethical framework for hospitals. The aim of this paper is to point out the importance of economics and ethics in healthcare. The first part of the paper analyzes the concept and significance of ethics and business ethics. The second part of the paper focuses on medical ethics, ie ethics in the field of healthcare. After a comprehensive analysis, relevant conclusions are given.

References

American Medical Association (AMA) (2006). Code of Medical Ethics of the American Medical Association, Current Opinions with Annotations 2006–2007, American Medical Association, Chicago, IL.

Baumgartner, R. J. (2014). Managing corporate sustainability and CSR: A conceptual framework combining values, strategies and instruments contributing to sustainable development. Corporate Social Responsibility and Environmental Management, 2(5), 258–271.

Crane, A., & Matten, D. (2004/2016). Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Fourth edition. Oxford: Oxford University Press.

Dessler, G. (2007). Osnovi menadžmenta ljudskih resursa, Datastatus, Beograd

Frezza, E., Frezza, G., & Frezza, EG. (2018). Ethics necessary in health care a review. Biom Biostat Int J., 7(4):317‒320.

Mahesh, C., Navatha, D., & Naveen Kumar, G. (2016). Marketing innovations and ethics, International Journal of Science Technology and Management, vol. 5, no. 1, pp. 349-354.

Pavlović, N. (2016). Poslovna kultura i etika, Univerzitet u Kragujevcu, Fakultet za hotelijerstvo i turizam u Vrnjačkoj Banji

Poitras, G. (2009). Business ethics, medical ethics and economic Medicalization, Int. J. Business Governance and Ethics, Vol. 4, No. 4, 372-389.

Robbins, S. & Coutler, M. (2005). Menadžment, 8 izdanje, Datastatus, Beograd

Robertson, C. J., Blevins, D. P., & Duffy, T. (2013). A five-year review, update, and assessment of ethics and governance in “Strategic Management Journal”. Journal of Business Ethics, 117(1), 85–91.

Smart, V., Barman, T., & Gunasekera, N. (2010). Incorporating ethics into strategy. Developing sustainable business models. Discussion paper. London: Chartered Institute of Management Accountants.

Stafford-Smith, M., Griggs, D., & Gaffney, O. (2017). Integration: the key to implementing the sustainable development goals. Sustainability Science, 12(6), 911–919.

Stanković, M., Mrdak, G., Stojanović, S. (2020). Innovations and business ethics, 2nd Virtual International Conference Path to a Knowledge Society-Managing Risks and Innovation PaKSoM 2020, November 16-17, 2020.

Stanković, M., Mrdak, G., Stojanović, S., Stanisavljević, B. (2021). Business ethics in social enterprises, 30th International Scientific Conference Knowledge without borders, 16-18.04.2021., Vrnjacka Banja, Serbia

Stanković, M., Mrdak, G., Stojanović, S., Stanisavljević, B. (2021). Integrating business ethics and business strategy, 30th International Scientific Conference Knowledge without borders, 16-18.04.2021., Vrnjacka Banja, Serbia

Treece, J. (1998). Nissan Rattles Japan with Tough Ethics Code, Automotive News, No.5, 49.

UN (2015). Transforming our world: The 2030 agenda for sustainable development. New York: United Nations, New York.

Downloads

Published

2022-03-30

How to Cite

Stanković, M., Mrdak, G., & Stojanović, S. (2022). ETHICS AND ECONOMICS IN HEALTHCARE. KNOWLEDGE - International Journal , 51(4), 679–682. Retrieved from https://ojs.ikm.mk/index.php/kij/article/view/5113

Similar Articles

You may also start an advanced similarity search for this article.

Most read articles by the same author(s)

1 2 3 > >>