Ethics and Fraud at HealthSouth: Lessons from Inside a Corporate Meltdown

In 2005, Aaron Beam, co-founder and former CFO of HealthSouth, pled guilty to bank fraud and was sentenced to prison for his role at HealthSouth, in the largest corporate fraud to come to light prior to the Enron debacle. While Beam left in 1997, financial mis-statements at HealthSouth kept growing, totaling more than $1.4 billion in fraudulent earnings when the whistle was blown in 2003. Chastened by his role in this tragedy, he candidly discusses his mistakes and regrets about giving in to pressure and greed, and shares lessons learned about how to be vigilant in guarding yourself and your organization from this slippery slope.

Category:

Education

Tags:

• ethics
• corporate fraud
• CFO
• bank fraud
• healthcare
• lecture

[LHZZ12MM]

"Pull the Wagon"...that was used as the employee orientation "HealthSouth 101" lesson...

I will say that he did have that idea right...and it should be the idea that guides all healthcare workers in all settings....it's all about customer service and making the customer happy..whatever that takes. I like the story Aaron gives about it.