Reference no: EM131420843
Health Care Financial Terms and Statements
Understanding health care financial terms and statements is a prerequisite for academic and professional success. This assignment is intended to ensure you understand some of the basic terms and statements used.
Complete parts A and B of this worksheet.
Part A:
Complete the table below according to the following guidelines:
• In the space provided, write each term's definition as used in health care management. You must define the term using your own words.
• In the space provided after each term's definition, summarize a health care management scenario that illustrates the importance of the skill, concept, procedure, or tool that the term refers to in 125 to 150 words. In the scenario, you may wish to consider the following:
o Why is the skill, concept, procedure, or tool necessary for accurate record-keeping, operational efficiency, excellent patient services, employee management, regulatory compliance, reducing costs, forecasting, etc.?
o What successes are enabled by an adequate understanding or appropriate application of the skill, concept, procedure, or tool?
o What risks or failures are associated with an inadequate understanding or inappropriate application of the skill, concept, procedure, or tool?
Term
Controlling
Decision- making
Organizing
Planning
Original records
Revenue cycle
Payer mix
Revenue
Capital expenditure budget
Direct cost
Flexible budget
Operating budget
Responsibility center
Forecast
Full-time equivalents
Noncontrollable expenses
Nonproductive time
Staffing
Situational analysis
SWOT analysis
Part B:
Resources:
Complete the table below.
In 100 to 125 words identify the purpose of the financial statement listed and provide an example of how the statement is used.
Financial Statement
Balance sheet
Income statement
Operating budget
Change in internal energy of the air
: The air inside a bicycle tire pump has 194 joules of work done on it as 97.9 joules of heat are added to it. What is the change in internal energy of the air?
|
What is the npv of the project assuming no taxes
: Can the firm fund the project if the original debt is a senior obligation that doesn't allow the firm to issue additional debt?
|
Describe the three major neolithic culture
: Describe the three major Neolithic culture complexes of Africa. What is the sequence of the shift to food production in Africa
|
Determine moisture content of product leaving dryer
: A product enters a tunnel dryer with 56% moisture content (wet basis) at a rate of 10 kg/h. The tunnel is supplied with 1500 kg dry air/h at 50°C and 10% RH, and the air leaves at 25°C in equilibrium with the product at 50% RH. Determine the moist..
|
What successes are enabled by an adequate understanding
: Why is the skill, concept, procedure, or tool necessary for accurate record-keeping, operational efficiency, excellent patient services, employee management, regulatory compliance, reducing costs, forecasting, etc.?What successes are enabled by an..
|
What methods could be applied to secure the communications
: When might having a VPN solution actually introduce additional threats and attacks to a private internal network? What methods could be applied to secure the communications?
|
Straight wire carrying a current
: If the magnitude of the tornado's field was B = 1.75 ? 10-8 T pointing north when the tornado was 8.80 km east of the observatory, what current was carried up or down the funnel of the tornado? Model the vortex as a long, straight wire carrying a ..
|
Should management go ahead with the repurchase
: Should management go ahead with the repurchase? Why or why not?
|
Explain benefit that objectoriented programming could afford
: Explain the key benefits that object-oriented programming could afford the health care industry. Provide at least one example that demonstrates the primary manner in which the health care industry could implement control structures.
|