Week Five Health care financial terms

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Week Five Health Care Financial Terms Worksheet

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

Complete the
worksheet 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 in 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 to which the term refers.
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, and so forth?

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?

Save the
completed worksheet as a Microsoft® Word document with your name in
the file name.

Submit the file
to your instructor.

Term

Definition

Scenario

Electronic health
record

Electronic
prescribing

Health information
technology

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 departments
within a healthcare organization cannot unilaterally change.

Hospital
managers may choose how many nurses can work at the ICU during the night
shift which is controllable, but expenses like hospital taxes and rent are
non-controllable.

Nonproductive time

Money
paid to a worker for nonworking hours.

When
a physician’s assistant goes on paid holiday, he/she is getting paid for
nonworking hours.

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