Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Health Care Delivery > Business Lectures > Flashcards

Business Lectures Flashcards

1
Q

Virginia Mason Model

A

first visit patients were examined by a physician and a physical therapist

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Virginia mason of starbucks slashed medical cost by ____%

A

40% for employees with LBP

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

The insurer agreed to ____ virginia mason’s physical therapy reimbursements by about 16%

A

increase

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Macroeconomics

A

examines national output and the way a country allocates its resources of land, labor and capital to maximize production levels and promote trade and growth

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Microeconomics

A

examines output at the individual level within the economy
shows how individuals and firms respond to changes in price and why they do at a particular price level

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Demand

A

the quantity of a product/service desired by consumers at a given price

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Supply

A

the quantity of the product/service the market will offer at a certain

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

The price of a product/service is reflected based on

A

supply and demand

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Market based pricing

A

prices are set by what others are charging

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Cost plus pricing

A

cost + profit=price

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

The art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions and events which are in part at least, of financial character and interpreting the results of

A

Accounting

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Revenue

A

fees earned in a given time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Expenses

A

Cost produced during operation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Receivables

A

asset that hasn’t been received kinda like an iou

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Payables

A

bills that neeed to be paid like a credit card

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

gross

A

all the revenue earned w/o taking out expenses

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

NET

A

revenue-expenses

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Assets

A

economic resources of the company
Ex: cash, land, equiptment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Liabilities

A

amounts owed to others
loans payables

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

equity

A

the owners interest in the business
corporation stock holders

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Balance sheet

A

a snapshot of a companies assets liabilities and owners equity at one point in time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Income statement

A

shows how profitable a company was during a stated time interval

ends on specific time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Cash Flow statement

A

the amount of cash coming into a business via revenue versus the amount that is leaving in the form of payments during a specific period of time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Cash Flow statement optimal
difficulties
good business practices

A

optimal: customers pay in full when services are rendered
difficulties: rapidly growing, successful business expanding quickly or purchasing inventory
Good business practice: sends bulls out at least monthly on outstanding balances
remind patients of balance
`

25
Q

Opportunity Cost

A

the value of what is foregone in order to have something else
-investing in marketing rather then new equipment
-where you decide to spend your money

26
Q

Budget process

A

typically completed on an annual cycle
involves looking at revenue vs expenses and projecting for next year
often use historical data for projections

27
Q

Revenue and cost per visit

A

can provided a good metric for budgeting
revenue per visit
revenue=copay/coinsurance + insurance reimbursement

28
Q

start up costs

A

cost associated with starting a business

29
Q

capital expenditures

A

large equiptment expenditures

30
Q

Fixed cost

A

expenses that dont vary with patient volumes
ex rent phone bill

31
Q

Variable cost

A

fluctuate directly with business volumes
ex therabands massage cream

32
Q

Break even analysis

A

Used to determine when your business/program will be able to cover all its expenses and begin to make a profit

-must first identify start up costs and determine revenue needed to pay ongoing business expenses in addition

33
Q

Return on investment

A

profit generated by the money a business owner puts into the project/business
typically expressed as a percentage return

income/profit divided by original or current investment

34
Q

Net operating income

A

at a basic level this is making money after all the bills are paid (does not include start up cost) as the business is operating

assessed monthly
timeframe must be considered for this to have power

35
Q

Human capital- productivity

A

balancing the task and people
staffing too high= increased cost and decreased productivity
staffing too low=increased stress on staff can strain referral reference

36
Q

Loss leader

A

does not generate a profit but leads to more business

37
Q

Marketing

A

promoting interest in and generating demand for products/services and positioning them within the market

38
Q

Sales

A

finding likely buyers and obtaining their agreement to buy a business product or service

39
Q

Public relation

A

the professional maintenance of a favorable public image by a company or other organization

the state of the relationship between the public and a company or other organization

40
Q

Value

A

what customers value
increased with quality and services
decreased with price

41
Q

Customer value triad

A

quality
service
price

42
Q

Research has show that the patient satisfaction is based on the ________

A

patient- PT interaction

43
Q

Need satisfaction selling

A
  1. determine what your customer needs/wants
  2. match how your product/service meets those needs
44
Q

market positioning

A

Market Positioning refers to the ability to influence consumer perception regarding a brand or product relative to competitors.

45
Q

Market differentiation

A

crafting unique products and services to attract and retain customers.

46
Q

Success story about thrive kaiser

A

helped people stay healthy not just get well when ill
redefine the system of HC
champion the cause of total health

members improved attitudes and non members

47
Q

Anti-kickbakc satute

A

its a criminal offense to knowingly and willfully solicit, receive, offer, or pay any renumeration to induce referrals of items or services covered by medicare or medicaid or other federally funded program

48
Q

manager role in quality care

A

underuse- not using EBP
overuse- over-utilization of diagnostic tests
missues- failing to execute clinical care process

49
Q

how do for profit business work

A

profits raised by the organization can be distributed to the owners
do not qualify for tax exemptions
assets belong to the owners and if the company is dissolved they are distributed to ownership interest

50
Q

non profit business

A

profits raised by the organization must be recircled back into the organization so it is able to fulfill its mission
may qualify for state and federal tax exemptions
assets belong to the organization and if the organization is dissolved they are donated to another NP organization

51
Q

Feasibility studies

A

an analysis and evaluation of a proposed project to determine if it is
1. technically feasible
2. feasible with estimated cost
3. profitable

52
Q

SWOT

A

Strength
weakness
opportunity
threat

53
Q

strength

A

what advantage does the company hold
what unique resources does the business possess
what does the business do better than anyone else
what do customers see as company strength

54
Q

weakness

A

where does the company need to improve
what do customers identify as weaknesses
where should the company consider cutting its losses

55
Q

opportunity

A

are there niches in the market that are not bing met
what are others doing that you could replicate or improve on

56
Q

Threats

A

what obstacles does the company face does the company have current financial problems

57
Q

Gantt Charts

A

bar chart that provides a graph that shows a schedule that helps to plan coordinate and track specific tasks in a project

58
Q

PERT

A

scheduling tool commonly used in project management to illustrate the dependencies and flow of projects events and milestones
used to plan and track projects

Health Care Delivery (19 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions