Suppose you are the HIM Director at a large medical center that offers inpatient, outpatient, and emergency care at several sites in one state. Your medical center has announced that it will acquire a facility offering similar services in a neighboring state. The laws and regulations governing the retention and destruction of health records differ between these states. How does the lack of a consistent set of laws and regulations on these two matters affects the institution you serve, and outline the steps you would take to deal with the situation? Explain in full detail, the key legal aspects in this case. Provide examples and at least two references to support your explanation

The following legal claims exist for m. finger co. identify the accounting treatment for each claim as either (a) a liability that is recorded or (b) an item described in notes to its financial statements. 1. m. finger (defendant) estimates that a pending lawsuit could result in damages of $1,250,000; it is reasonably possible that the plaintiff will win the case. an item described in notes to its financial statements. a liability that is recorded. 2. m. finger faces a probable loss on a pending lawsuit; the amount is not reasonably estimable. a liability that is recorded. an item described in notes to its financial statements. 3. m. finger estimates damages in a case at $3,500,000 with a high probability of losing the case. an item described in notes to its financial statements. a liability that is recorded. the amount that m. finger co. should record in its accounting records related to these suits is: