As we become increasingly aware of how external factors influence interpretation and reasoning—and the possibility that these factors may undermine objectivity—regulated professionals have begun to pay more attention to conflicts of interest.
Kelly is a self-regulated professional who has her own business while still working for a long-term facility. Kelly asked, “Is it alright to give my business card to my long-term facility clients?”
The answer is no. It is inappropriate to refer clients from your employment or contracted work to your private business. Even as a regulated professional, Kelly has contracted herself to the company or client for a specific area of healthcare. This situation represents an actual, perceived, or potential conflict of interest.
Types of Conflicts of Interest
- Actual Conflict of Interest: When the client believes they will receive better care by also employing Kelly privately. Kelly may not realize this assumption, or she might suggest the client needs additional care that she can provide independently.
- Perceived Conflict of Interest: When Kelly innocently gives her card to a client, and a relative perceives that Kelly might benefit from her current position by doing so.
- Potential Conflict of Interest: When Kelly suggests the client contact her in the future for private care, potentially breaching trust and creating a future conflict.
What to Do About Conflicts of Interest
When faced with a potential conflict of interest, there are three appropriate responses: avoid, disclose, and recuse.
- Avoidance: Avoid situations that could lead to conflicts of interest. Do not accept gifts or benefits unless they clearly contribute to the welfare of those you serve professionally, do not bias judgment, enhance professional skills, and do not diminish professional dignity.
- Disclosure: Self-initiate action to be transparent, providing personal and professional information to stay ethically compliant with your Professional Standards.
- Recusal: Withdraw from situations where your participation creates bias that could influence decisions. By stepping out, you ensure personal preferences or biases do not affect the outcome.
It is crucial not to promote any private business interests to your clients or their family members.
At CompanyOn, we’re committed to supporting our audience, whether they are just considering professional independence or are already established solo practitioners. Connect with us via our social media channels to learn more.
Related Resources:
- British Columbia College of Nurses and Midwives
- College of Nurses of Ontario
- College and Association of Registered Nurses of Alberta
- College of Licensed Practical Nurses of Alberta
- College of Registered Nurses of Manitoba
- College of Licensed Practical Nurses of Manitoba
- Canadian Nurses Association
- Canadian Nurses Protective Society
- Canadian Association of Foot Care Nurses
For more insights, check out:
- Maintaining Professional Boundaries
- Understanding Business Use of Home Expenses for Taxes Purposes
- Five Simple Ways to Attract New Clients
- Five Best Practice Tips on Risk Management and Quality Improvement for Solo Practitioners
Incorporating these practices ensures that your independent practice operates ethically and avoids conflicts of interest, maintaining client trust and professional integrity.
Best Practices On Risk Management and Quality Assurance For Solo Practitioners
It is important for regulated solo practitioners to be committed to ongoing quality improvement and risk management of their practice. Ensuring the safe and effective provision of care services is paramount for the establishment, maintenance, and growth of any business.
One key step to accomplish this is committing to developing policies and procedures that address risks and quality assurance of your private practice
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