DECK 7 Flashcards
Way to count physical inventory.
Counts everything in storeroom but accomplished by continuously selecting smaller portions of inventory items to count throughout the year. Approx. 10% of stock counted monthly
Cycle Counting
Away to count physical inventory.
Counts everything in storeroom & occurs at regular, predetermined intervals (monthly or quarterly). Entire department shut down to count inventory.
Periodic Counting
How to get the data out & in?
How to transmit data over?
Two Pieces of Interface for MMIS
Data Converted to MMIS
Items (from legacy system) Inventory management parameters Vendors (from legacy system) Department & general ledger account info Requisition templates Usage history
At least two systems that comprise ERP system
System Comprised of: General Ledger Accounts Payable Accounts Receivable Fixed Asset Tracking Human Resources Payroll Project Management Decision Support
Administers all Medicare programs & the DRGs that are in place
Centers for Medicare & Medicaid Services (CMS)
Merged hospitals that formed to provide care & services to patients from multiple delivery sites.
Integrated Delivery Network (IDN)
Combines buying power of its members & then contracts for given products & charges the manufacture or distributor a fee for services.
Group Purchasing Organization (GPO)
Began by offering lowers rates then typical health coverage insurance plans.
Commonly provided primary care & focused their attention on keeping the customer as healthy as possible.
Designed to prevent illness rather than providing extensive coverage to treat catastrophic episodes of care
Health Maintenance Organization (HMO)
Established to control cost for hospital inpatient care.
Generally provided a fixed payment to hospital for services based on the patient diagnosis.
Diagnosis Related Groups (DRGs)
Been developed to address several deficiencies in DRGs.
Has 4 severity level, patient age is used in severity leveling & significant pediatric & adult problems have separate
APC-DRGs
All Patient Defined DRGs
An important criterion in evaluating or comparing investment or purchases.
Referred to as Net Present Value.
The idea that money you have now should be valued more than an identical amount you would receive in future.
Discount Cash Flow (DCF)
Negotiated as part of the contract
Equivalent to very favorable interest rates.
Early Payment Discount
Issued by vendors when goods are returned or overcharges are identified.
Credits
Negotiated as part of a contract where payments or credits are due to the organization based on number of units purchased or amount spend with a vendor.
Provided as check to organization
Rebates
