Reference no: EM133244215
Assignment:
What are the functions and responsibilities of the governing board of a healthcare corporation?
Running a healthcare organization is very important that all members of the team- whether on the medical staff, in management, or on the board- understand the role of governance and what constitutes effective governance.
The governing body of a healthcare institution has 3 primary roles:
- Policy making-policies define focus and differentiate responsibilities among the board, the management, and the medical staff. Well-written policies lead to more efficient board functioning.
- Decision Making- involves making choices about the organization's vision, mission, and strategies. Boards make decisions about issues that are strategic and significant.
- Oversight- the board must remember the organization is theirs to oversee, not to manage. The board should not become involved in the details of day-to-day operations-these responsibilities should be delegated to hospital administration and the medical staff-but must monitor those delegated powers in the form of performance review and hold accountable the corporation's agents acting on their behalf.
Boards have numerous responsibilities: they oversee management, finances, and quality; set strategic direction; build community relationships; establish ethical standards, values, and compliance; and select a CEO and monitor his or her progress. The governing board has fiduciary duties-loyalty and responsibility- owed to the corporation, its members, and its intended beneficiaries. Loyalty to the organization is a very important fiduciary duty because it requires the individual to put the interests of the corporation before self-interest. Basically, every organization should have and follow conflict-of-interest policies. Also, the other important fiduciary duty is the duty of responsibility, which is to act with due care in every activity of the board. Good faith and honesty help to determine wither due has been exercised.
Reference:
Arnwine, D. L. (2002, January). Effective governance: The roles and responsibilities of Board members. Proceedings (Baylor University. Medical Center).
Showalter, J. (2020). The Law of Healthcare Administration (9th ed.). Chicago, IL: Health Administration Press.