Introduction
Given the sharp increase in healthcare prices, healthcare professionals are coming up with innovative cost-containment methods. Every now and then, the healthcare organization may find itself confronted with an ethical choice and find it difficult to make. The case study of Drs. S and V will be examined, and the paper will explore how their actions broke the Stark Law.
Stark Law
Stark Law is a federal law that was created to stop conflicts of interest and Medicaid and Medicare program abuse. Physical therapy, occupational therapy, radiography and imaging services, and radiation therapy are among the approved health services. Every financial arrangement between physicians and organizations offering specified healthcare services must comply with certain exclusions in order to be legal. One exemption is the in-office ancillary services exception, which, if certain requirements are met, permits doctors to offer specific health services in their offices. Another exclusion is the group practice exclusion, which, under certain circumstances, permits doctors in a group practice to refer patients to specific in-group medical services.
Stark Law Violation
The Stark Law was not immediately broken by Drs. V and S when they decided to rent a nuclear camera. Despite the Stark Law’s prohibition on self-referrals for Medicare and Medicaid, there are several exceptions, and doctors may offer DHS services if they approve the service. Doctors are prohibited from engaging in any actions under Medicare and Medicaid that would provide them with a financial gain or an interest under the Stark Law (Tironi, 2009). As the doctors already had a relationship with the hospital and wanted to earn amnesty for admitting patients, they allowed them to utilize the nuclear camera as a compromise. Here was where Dr. S and Dr. V stepped over the boundary between what was legal and illegal. Medicare was invoiced for the services provided while patients were using this nuclear camera.
Legal Parameter for Patient Rights
As healthcare providers, Dr. S and Dr. V have to protect their patients’ rights by complying with all applicable laws and regulations. By leasing a nuclear camera and providing nuclear imaging services to their patients, they acted in their patient’s best interests. However, they also had to ensure they did not violate any laws or regulations. Since the hospital had agreed to the lease of the camera, it suggests that the arrangement was acceptable under the Anti-Kickback and Stark Acts (Collins et al., 2018). Nonetheless, the qui tam action brought against them highlights the importance of healthcare providers being aware of the legal parameters for patient rights and complying with all applicable laws and regulations to protect those rights.
Federal, Statutory, Case Laws
The Anti-Kickback Act forbids healthcare providers from exchanging cash or other benefits with patients they refer or with the purchase or lease of goods or services used in the medical industry. The legislation’s main objective is to stop fraud and abuse in government healthcare programs like Medicare and Medicaid.
Stark Law also forbids healthcare professionals from financially conflicting with the organizations through references they offer to patients. The law’s goal is to stop money from influencing a patient’s choice of treatment.
False claims are not allowed to be submitted to the federal government under the False Claims Act, which is a federal law. The statute permits whistleblowers to bring qui tam actions on the government’s behalf, and they may be entitled to a share of any damages awarded (Bustillos & Vellek, 2019). The defendants in this qui tam action were accused of falsifying certifications of compliance with the Anti-Kickback and Stark Acts in relation to claims made to Medicare.
Conclusion
The Stark Law prevents physicians from referring patients to healthcare that may lead to conflict of interest in order to avoid misuse of government healthcare programs. However, there are some exceptions to this rule, such as the in-office services exception, group practice exception, and fair market value exception. These exceptions allow doctors to receive compensation for healthcare services in certain situations.
References
Bustillos, D., & Vellek, S. A. (2019). Health care ethics and medical law. (2nd ed.). San Diego, CA – Bridgeport Education, Inc.
Collins, A., Clark, K., & George, A. (2018). A Stark Future for the Stark Law? Home Healthcare Now, 36(6), 393.
Tironi, P. (2009). The Stark Reality: Is the Federal Physician Self-Referral Law Bad for the Health Care Industry?Annals Health L., 19, 235.
Stock Market Disruption – Adani Company Sample Paper
History of the Company
Adani Company is believed to be an Indian company that owns and operates under most companies. This company is believed to be more active and the wealthiest in Indian countries. Apart from owning the series of companies found within the Indian community, Adani company is set to be the headquarters of Ahmedabad. This company was put into action in 1988 when it was confirmed that it could carry out many activities in the global world. Remember, since the company is operating other companies and several businesses in the Indian community, this company is therefore believed to be the most influential company (Deo, 2019). Many resources within the Adani Company are utilized by the controlling individuals who control the performance of other businesses or the companies that this leading company owns. As a result of the growth and expansion of the company. Adani has set up more businesses and, more so, companies within the Indian community and in the global world.
Major players (Investors, Management)
In every company setting, the leading team forms the management team. In the Adani Company, some individuals control all the activities carried out in the company. This forms the primary management team that runs and operates the company anytime. According to the number of achievements that the Adani Company made, a good management team is leading the company. More so, prominent investors are found within the company. The Adani company controls the activities of other companies that work under it. This means that there is the primary source of capital that the company uses to expand itself and, more so, be able to maintain the activities carried out by other companies that work under it. This information brings in the idea of sponsors who funds the company and who forms the leading fundamental investors in Adani Company. Adani company owners also act as the leading investors in the company setting (Perona, 2021). They benefit more from the activities they set and carry out within the company.
History of the stock
Adani Company has one of the shared visions the working individuals have set. As it has been highlighted, this company majors itself in the activities that lead to the establishment of many companies and other businesses in the Indian community and more so across the global world. This company majors in building more infrastructure and the assets the country takes to grow. As stated in the introduction, this company started its activities in 1988. At this moment, the company had a small amount of money that could be used to raise more companies and businesses. This made the company have fewer assets worldwide and more so in the Indian communities (Muralidharan, 2023). As the company grew every moment, the company acquired more sponsors who ensured a continuous flow of capital. Therefore, this idea allowed the company to grow and establish more and more company ad businesses that operate under it. At present, Adani Company has got a large number of assets.
What happened?
During the establishment of more assents in the Adani Company, several individuals had the idea of funding the company at any given time. This means they wanted to enrol in the company and form part of the investors in the company system. Adani Company CEO rejected the idea of most of the sponsors wishing to sponsor the company at any given time. Although the company had a problem experiencing low capital, the CEO refused to give out permission to some of the sponsors who wanted to fund the Business (Ramanna, 2022). The main reason behind this is that the CEO feared that the Business could have been overtaken or other individuals could have owned the company because the company would not be able to pay the bank the money it rendered to them. This idea raised great fear in the manager and other individuals who sum up the management staff in the Adani Company.
Actions Taken
Because several individuals wanted to fund the company system, the CEO decided to pick a few from the great list. This was so because the company would at least be able to repay the amount rendered to them after a given period. Therefore, the company is run by the management team decided to pick a few individuals to fund the Business at any given time. This idea was necessary since the company would pay back the amount rendered to them at a given period. More so, Adani’s CEO decided that the rest individual would be involved in the company as the company grows. This is because when the company grows big, there will be several assets that the company will own at any given time (Acharya, 2018). These assets will ultimately form the primary source of income for the company. Therefore the company will be able to repay the amount of money rendered to them at any given time.
Outcomes
The fact that the CEO was able to engage a few sponsors at the early stages of the Adani Company development made it possible for the company to have capital that was used to set up more infrastructure in the Indian communities and more so across the global world. This allowed the company to own several assets, which earned much profit. As the company grew, there was the idea of the CEO also involving a large number of sponsors at any given time (Pradhan, 2016). This idea was also good since the company could fix more assets at any given time. This enabled the company to fulfil its primary vision of growing the countries. Because the company now had enough capital to run its activities at any given time, it could earn more and more capital. This is because the company had paid back the amount of money rendered to it at the beginning of the establishment period.
References
Acharya, S., John, V. S., & George, J. (2018). Prognostic Ability of Beta in Predicting Stock Returns in Asymmetrical Stock Market-Indian Context. Asian Journal of Research in Banking and Finance, 8(2), 28-35.
Deo, S., Singh, S. K., Raghuram, G., & Choudhari, S. (2019). Adani Wilmar Limited (AWL). Asian Case Research Journal, 13(01), 157-176.
Muralidharan, S. (2023). End of a roll: The curious rise and fall of Adani stocks. Frontline.
Perona, M., Cigolini, R., Adani, M., Biondi, R., Guzzetti, S., Jenna, R., … & Agellara, S. (2021). The integrated management of logistic chains in the white goods industry. Field research in Italy. International Journal of Production Economics, 69(2), 227-238.
Pradhan, S. K., & Kasilingam, R. (2016). Impact of Bonus Announcements on Share Price: Evidence from Bombay Stock Exchange. Pacific Business Review International, 6.
Ramanna, V., Dhanuka, A., Vasu, D., & Valluri, H. (2022). Adani Power Initial Public Offering. Available at SSRN 2003329.
Strategies For The Operational Efficiency Of Lyft Essay Sample For College
Introduction
Lyft is a ride-sharing company facing several challenges in recent years. These challenges include declining revenue, high operating costs, and increasing regulatory pressures. As a result, Lyft has hired me as a consultant to help the company overcome these challenges and present a plan to the Board of Directors that will keep the company in business.
Corporate Client
Lyft, a prominent corporate client, has carved a niche as a leading ride-sharing company, operating across multiple cities in the United States (A ride whenever you need one, n.d). Founded in 2012, the company has rapidly gained popularity among customers, owing to its commitment to providing affordable and convenient transportation solutions. Lyft’s vision has always been to reduce traffic congestion and pollution while ensuring people can quickly move around cities. Over the years, the company has invested heavily in cutting-edge technology and innovative strategies to enhance the safety and comfort of riders, further cementing its reputation as a top player in the ride-sharing industry. Today, Lyft’s influence extends beyond the United States. The organization is now recognized as one of the largest ride-sharing companies globally, a testament to its impressive growth trajectory and unwavering commitment to customer satisfaction.
Client’s Issue
Lyft’s primary issue is declining revenue due to intense competition, high operating costs, and increasing regulatory pressures. According to Bowning (2023), Lyft lost $588 million in its recent quarter. The ride-sharing industry is highly competitive, with Lyft competing against rivals like Uber, Didi, and Grab. These competitors offer similar services, and customers often choose the company that offers the lowest prices or the best service. Intense competition has pressured Lyft’s revenue, which has declined in recent years. In addition to the competition, Lyft also faces high operating costs. The company must pay for the salaries of its employees, the maintenance of its vehicles, and the fuel cost. Streeter (2022) explains that Lyft has been offering steep incentives to lure drivers back, which means that at some point, its drivers quit due to the company’s challenges. The costs can be significant, especially when combined with the need to provide quality service to customers.
Moreover, Lyft is facing increasing regulatory pressures. Governments are beginning to regulate ride-sharing companies, which can result in additional costs and requirements for Lyft. For example, some cities require ride-sharing companies to have a certain number of accessible vehicles, which can be expensive to acquire and maintain.
The diagram above depicts the drastic decline in the share price of Lyft
Solution using the six steps on the Project Scope Checklist
Project Objective
The primary objective of this project is to develop a strategic plan to help Lyft overcome its challenges and remain competitive in the ride-sharing industry. Lyft must be designed to address Lyft’s declining revenue, high operating costs, and increasing regulatory pressures. The plan should be practical and achievable within a reasonable timeframe.
Deliverables
The key deliverables of this project include a comprehensive report outlining the proposed plan, including detailed recommendations for improving Lyft’s operations, reducing costs, and increasing revenue. The report includes a risk assessment, a cost-benefit analysis, and a plan implementation timeline.
Milestones
The following milestones are critical in the implementation of the proposed plan:
Identifying Key Areas for Improvement: The first step in the proposed plan is to identify the key areas where Lyft can improve. These may include reducing operating costs, improving service quality, or increasing revenue through new products or services. Once these areas are identified, Lyft can develop specific strategies to address them.
Developing a Cost-Benefit Analysis. Lyft needs to conduct a cost-benefit analysis before making any changes to assess each strategy’s potential benefits and costs. Conducting the analysis will enable Lyft to prioritize the strategies to implement first based on their benefits and costs. Thus, a cost-benefit analysis will help Lyft decide where to focus its resources.
Developing a Timeline for Implementation. Once Lyft has identified the critical areas for improvement and has conducted a cost-benefit analysis, it should develop a timeline for implementing the proposed plan. Developing a timeline for implementing the proposed plan is crucial after identifying the critical areas for improvement and conducting a cost-benefit analysis. The timeline should be realistic and achievable within a reasonable timeframe to ensure the plan’s successful implementation.
Presenting the Proposed Plan to the Board of Directors. It will be presented to the Board of Directors to seek approval for the proposed plan. A clear and concise presentation is necessary to effectively communicate the benefits and risks associated with the proposed plan. The presentation should provide the Board with the necessary information to make an informed decision regarding approval.
Implementing the Plan. Implementing the approved plan will require allocating resources, including personnel and financial resources. Once resources have been allocated, Lyft can put the plan into action. Successful implementation will depend on the efficient use of resources and the effective execution of the plan.
Monitoring Progress and Making Adjustments as Necessary. Monitoring progress and making adjustments as necessary is the process of regularly reviewing the implementation of a plan to ensure that it is progressing as intended (How to monitor progress | indeed.com – indeed career guide, n.d). Monitoring involves setting up specific metrics and indicators to measure progress and then tracking those metrics over time. Monitoring progress makes it possible to identify potential issues or areas where the plan is not working as intended. Once issues or areas of improvement have been identified, the company can make adjustments to improve the plan’s performance. Adjustments may include modifying specific tactics or strategies, reallocating resources, or revising the overall plan. The ultimate goal of monitoring progress and making adjustments is to ensure the plan succeeds and achieves its desired outcomes. The process is an essential part of any effective planning and implementation process. It enables organizations to remain agile and responsive to changes in the external environment and adapt their approach as necessary to achieve their objectives.
Technical Requirements
Before Lyft can implement its proposed plan, it must fulfill several technical requirements. The first requirement is to improve its technology infrastructure to accommodate the anticipated surge in demand for its services; this could involve upgrading its servers, developing new software, or adopting more advanced technologies. Technology can offer many benefits to an organization, such as low overhead costs (Bawa, 2018). Additionally, Lyft may need to hire skilled personnel to execute the plan successfully. Hiring skilled personnel could include hiring data analysts, software developers, and marketing professionals with expertise in the relevant fields. These individuals would ensure the proposed plan is executed effectively and efficiently. Lyft can increase its chances of successfully implementing its proposed plan and achieving its objectives if it meets the technical requirements.
Developing New Products or Services. Lyft could explore various options to bolster its revenue, such as collaborating with other businesses, innovating new technologies, or venturing into untapped markets. These strategies can help the ride-hailing company stay competitive and broaden its customer base. Lyft can enhance its value proposition and drive growth in the long run if it diversifies its offerings.
Limits and Exclusions
There are several limits and exclusions to the proposed plan. The limits and exclusions may include the following:
Financial Constraints. Lyft should create the proposed plan with the company’s monetary restrictions in mind to ensure financial stability. This technique necessitates the cost of executing the plan to be reasonable and justifiable. As a result, financial feasibility should be a top consideration in developing any plan.
Regulatory Constraints. Adhering to applicable regulations and laws is mandatory and critical for any proposed plan. Abiding by the laws and regulations may involve fulfilling requirements regarding accessibility, safety, and insurance. Therefore, thoroughly examining regulations and laws is crucial during plan development.
Reviews with Customer
Customer reviews are critical to the success of the proposed plan. Lyft must ensure its customers are satisfied with the proposed changes and willing to continue using its services. Lyft may need to conduct surveys or focus groups on determining customer satisfaction levels.
Risks Involved if the Plan Fails
If the proposed plan of Lyft fails, several potential risks could arise. The first and perhaps most significant risk is a continued decline in revenue. Lyft’s revenue may continue to decrease, leading to the company quitting. Additionally, if Lyft fails to keep up with its competitors, it may lose market share to its rivals, making it challenging for the company to recover in the future. Moreover, the government could impose regulatory sanctions on Lyft if it fails to comply with regulations, which could result in fines and increased operating costs. These sanctions could make it more challenging for the company to remain competitive. Therefore, Lyft must execute its proposed plan successfully to avoid these potential risks and ensure its continued success.
Conclusion
Lyft faces several challenges that are putting the company at risk of failure. As a consultant, my primary objective is to develop a strategic plan to help Lyft overcome these challenges and remain competitive in the ride-sharing industry. The proposed plan includes a comprehensive report outlining the critical areas for improvement, a cost-benefit analysis, and a timeline for implementation. The proposed plan must also meet several technical requirements and comply with all relevant regulations and laws. Customer reviews will be critical in the success of the proposed plan, and the risks involved if the plan fails to include a continued decline in revenue, loss of market share, and regulatory sanctions. Lyft can overcome its challenges and remain a leading player in the ride-sharing industry if it implements the proposed plan successfully.
References
A ride whenever you need one. Lyft. (n.d.). Retrieved March 5, 2023, from https://www.lyft.com/
Browning, K. (2023, February 15). Financial woes Thrust Lyft, long in uber’s shadow, into the spotlight. The New York Times. Retrieved March 5, 2023, from https://www.nytimes.com/2023/02/15/technology/lyft-financial-woes.html
Bawa, N. (2018, October 9). Council post: Three reasons all companies should invest in Tech. Forbes. Retrieved March 5, 2023, from https://www.forbes.com/sites/forbestechcouncil/2018/10/09/three-reasons-all-companies-should-invest-in-tech/?sh=2ffe9fbf6710
How to monitor progress | indeed.com – indeed career guide? (n.d.). Retrieved March 5, 2023, from https://www.indeed.com/career-advice/career-development/monitor-progress
Streeter, S. (2022, May 4). Lyft and uber – the challenge for the ride Hailing Giants. CEO Insight. Retrieved March 5, 2023, from https://ceo-insight.com/finance/lyft-and-uber-the-challenge-for-the-ride-hailing-giants/