[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.




Electronic healthrecord


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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