Week One Health Care Financial Terms Worksheet Essay Example
HCS 405 Week One 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.
Worksheet
Submitted By:
Term Definition Scenario
Controlling By using feedback reports managers will compare up to date reports to older reports to make sure plans are being followed and progress is being made in the direction that was planned out. When viewing feedback reports from 6 months ago in comparison to those written last week Mary was able to see that more money was being spent on man hours in her department but the patient flow had actually decreased. By this assessment Mary realized she would have to adjust employees work schedules and move some to a department where they could be better utilized.
Decision
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.
Worksheet
Submitted By:
Term Definition Scenario
Controlling By using feedback reports managers will compare up to date reports to older reports to make sure plans are being followed and progress is being made in the direction that was planned out. When viewing feedback reports from 6 months ago in comparison to those written last week Mary was able to see that more money was being spent on man hours in her department but the patient flow had actually decreased. By this assessment Mary realized she would have to adjust employees work schedules and move some to a department where they could be better utilized.
Decision