Progressive's Ethical Insurance Fraud Case

Besides the product and geographical focus, Progressive also emphasizes on strengthening the relationship with the over 14,000 agents to distribute its products and services. By discipline pricing, Progressive demands adequate rates to achieve underwriting profitability and is willing to forego volume if necessary to achieve profit objectives. It is committed to set individual rates more accurately than the competitors. In addition, they will promptly respond to claims reported by local claim adjusters, which deliver effective control of the claim resolution process.

Organizational misconduct is the chief cause behind corporate accounting scandals. The trusted executives of the corporation participation in actions during a scandal are corrupt and illegal. In the United States, the Securities and Exchange Commission (SEC) is typically the government agency that investigates such scandals. One of the most notorious corporate accounting scandals in the United States is the HealthSouth Corporation scandal of 2003. HealthSouth Corporation is one of the United States largest health care providers with locations nationwide. A deeper inspection of the HealthSouth scandal is needed to understand how it transpired by assessing how it was executed, the accounting issues and root of the issue, how it was exposed, the results to the company and its officers, and warranted ramifications as an outcome of the scandal.

Physician and pain clinic owner Paramjit Singh Ajrawat, of Potomac, Maryland has been ordered to

Probably increase marketing, promotional and expenses related to discounts in the subsequent year due to “Premier Vision” plan.

The Progressive culture has historically tried to emphasize the client with a “Fast, Fair, Better” mantra. A review of the change in vision shows that it has been changed significantly in the recent past from a long winded mission like statement as shown in Progressive (2016a) to a simple and clean “Become consumers’ number one choice and destination for auto and other insurance” as shown in

Progressive Insurances target market is everyone who thinks buying insurance is a responsible thing to do. The target market for Progressive is really anyone who wants to insure his or her assets. The person wants to protect himself or herself from possible loss due to damage or injury. The company does not want to direct all its advertising attention to the family or the individual, because that direction may cost the company a potential customer. It is the strategy of the company to be as inviting to as many customers as possible. The target market consist of a number of variables that are determined by the buyer, and their particular situation. Progressive has had numerous advertisements depicting numerous situations that encourage people

Secondly, John Goodman shares his defining moments of the current methods of insurance payers and how they work:

Managed Care is a system of health care in which patients agree to visit only certain doctor and hospitals, and in which the cost of treatment is monitored by a managing company. David, a clinical supervisor of one pad was responsible for the clinical supervision of eight clinical case managers. On typically day, he receives around 40 phone messages about clients that are in need of his services. His job is to field calls from mental health providers seeking authorization to provide treatment for clients. There are those who believe that managed care is simply another example of corporate America discovering a means to increase profits for shareholders of insurance companies, at the expense of individuals seeking mental health treatment. (pg.

An Insurance agency that continues to change the industry is Progressive and began in 1937(Progressive, About) Progressive was also the first to reduce rates for low risk drivers, as well as offering comparison rates with its top competitors on its website. (Progressive, Intro). They are currently based out Mayfield Village, Ohio with branches in 450 cities and employee around 25000 individuals.

The training will includes healthcare codes of ethics for managed care and five ways to improve ethics in the managed care organization.

Rising costs of healthcare is a valid concern for many households in America. A factor in the cost of healthcare insurance is fraud. Fraud is often very difficult to detect. The magnitude of healthcare fraud is unknown. Initial reimbursement and payment and billing timeframe of 90 days allows for fast payment of services, however, many times before there is an indication of fraudulent billing the company has closed up and moved on. Fraud in American healthcare, costs American’s millions perhaps even billions of dollars annually. Without doubt, behind every act of fraud lies a lapse in ethics. This paper will review several pieces of literature to look

It is important that we act in a way that is ethical, legal, and commendable. Medical professionals struggle with healthcare dilemmas that are not experienced by the general public. Medical-ethical decisions have become increasingly complicated with the advancement of medical science and technology. (Fremgen) Just like the government has laws for citizens, not having laws in healthcare would allow people to do anything they want. It is important that we study the ethics and laws of healthcare, because if we were put in a situation it is essential that we know the difference between right and wrong. In the article I found, it talks about a nurse who refuses to give CPR to an older woman who collapsed in a senior residence where she works. This article has many more ethical issues than legal issues.

With no ethics come dishonesty, disloyalty, fraudulence, and a host of other bad qualities. These qualities are total opposite of what one would need to possess if they were handling any form of business in the healthcare field, particularly in the finance department. When working with funds it is important to keep morals and ethics extremely high because when no one is looking is really when you’re being tested. Sometimes, humans tend to let financial issues burden them down to the point of giving up. If a person going through a tough time in life was to have access to a large amount of money, it would be imperative that this individual

Hiding or divulging information: Goldman bet against their clients several times. They knew material information on certain investment; however, they never communicated that to their clients because they were making money off them.

HealthSouth Corporation is based in Birmingham, Alabama, it is the largest provider of rehabilitative health care services. It operates in 26 states in the United States of America and in Puerto Rico. HealthSouth provides rehabilitation hospitals, long term heightened care hospitals, outpatient rehabilitation satellite clinics and home health agencies.