[Get Answer ]-Week Five Health Care Financial Terms

Question Description

Week Five Health Care Financial Terms Worksheet

Understanding health care financial terms is a prerequisitefor both academic and professional success. This assignment is intended toensure you understand some of the basic terms used in this course.

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Complete theworksheet below according to the following guidelines:

· In the space provided, write each term’sdefinition as used in health care management. You must define the term in yourown words.

· In the space provided after each term’sdefinition, summarize a health care management scenario that illustrates theimportance of the skill, concept, procedure, or tool to which the term refers.In the scenario, you may wish to consider the following:

o Why is the skill, concept, procedure, or toolnecessary for accurate record keeping, operational efficiency, excellentpatient services, employee management, regulatory compliance, reducing costs,forecasting, and so forth?

o What successes are enabled by an adequateunderstanding or appropriate application of the skill, concept, procedure, ortool?

o What risks or failures are associated with aninadequate understanding or inappropriate application of the skill, concept,procedure, or tool?

Save thecompleted worksheet as a Microsoft® Word document with your name inthe file name.

Submit the fileto your instructor.

Term

Definition

Scenario

Electronic healthrecord

Electronicprescribing

Health informationtechnology

Situational analysis

SWOT analysis

Scenarios must be health care related like in a hospital, doctor’s office, clinics or a particular hospital department (for example radiology or laboratory. Examples given below but use the terms above.

Non-controllable expenses

Expenses that various individuals or departmentswithin a healthcare organization cannot unilaterally change.

Hospitalmanagers may choose how many nurses can work at the ICU during the nightshift which is controllable, but expenses like hospital taxes and rent arenon-controllable.

Nonproductive time

Moneypaid to a worker for nonworking hours.

Whena physician’s assistant goes on paid holiday, he/she is getting paid fornonworking hours.

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