HCS 405 Week 3 Week Three Health Care Financial Terms Worksheet

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HCS 405 Week 3 Week Three Health Care
Financial Terms Worksheet

Resources: University
of Phoenix Material: Week Three Health Care Financial Terms Worksheet

Complete the
University of Phoenix Material: Week Three Health Care Financial Terms
Worksheet.

Week Three 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:

[Type your name here.]

 




Term


Definition


Scenario




Capital
expenditure budget


 


 




Direct
cost


 


 




Flexible
budget


 


 




Operating
budget


 


 




Responsibility
center


 


 




 
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