FINALS LEC 2: FINANCIAL MANAGEMENT Flashcards
The Hospital Environment
- the laboratory usually operates as a DIVISION under a ____________________. Along with other operational divisions such as pharmacy and dietary, the laboratory must compete for resources with direct patient care divisions such as nursing.
VICE PRESIDENT OR DIRECTOR OF OPERATIONS
Operating in the Outpatient Hospital Setting
- Many hospital laboratories, especially those in academic medical centers, serve significant numbers of _________.
- These encounters may be associated with PRIOR or FUTURE INPATIENT STAYS , for example, before or after surgical procedures.
- Here one might suppose the demand for rapid turnaround times (TAT) must be LESS THAN in the inpatient setting.
OUTPATIENTS
The Non-Hospital Environment
Testing provided by INDEPENDENT LABORATORIES generally mirrors that of hospital-associated laboratories
- The major differences lie in the:
- POPULATION SERVED
- HOURS AND SCOPE OF OPERATION
- TURNAROUND TIME REQUIREMENTS
- NEED FOR ANCILLARY FUNCTIONS such as business operations
The Non-Hospital Environment
- Some of these facilities do a substantial amount of REFERENCE TESTING for hospitals and other laboratories.
- Most of the testing done by the independent laboratories is for ________ of physician and clinics
- Some may provide PHLEBOTOMY SERVICES at or near the offices and clinics they serve.
OUTPATIENTS
The Non-Hospital Environment
- Some may provide PHLEBOTOMY SERVICES at or near the offices and clinics they serve.
T OR F?
TRUE
STRATEGIC PLANNING
- ___________ complements the management of operations, which comprises the main focus topic.
BUSINESS STRATEGY
STRATEGIC PLANNING
- Operational management consists of optimizing individual business processes.
- It may involve the efficient use of:
- HUMAN RESOURCES
- SUPPLY CHAIN MANAGEMENT
- FINANCIAL PLANNING
- or QUALITY CONTROL
STRATEGIC PLANNING
- _____________is about equipping an
organization to thrive in a competitive market.
BUSINESS STRATEGY
STRATEGIC PLANNING
- In competitive markets, producers tend to emulate one another until their products and services become indistinguishable.
T OR F?
TRUE
STRATEGIC PLANNING
- This process of _____________benefits consumers through lower costs and higher quality but minimizes profits for producers.
COMMODITIZATION
STRATEGIC PLANNING
- __________ represents a deliberate effort to RESIST COMMODITIZATION and maintain an organization’s competitive advantage by defending a distinctive position in the market.
STRATEGY
STRATEGIC PLANNING
A SUCCESSFUL STRATEGY is a creative approach that is shaped by the particular industry in which an organization operates and the particular competitors it faces in the marketplace.
T OR F?
TRUE
STRATEGIC PLANNING
- Strategies commonly fail because organizations LOSE THEIR FOCUS and ATTEMPT TO EMULATE COMPETITORS
T OR F?
TRUE
STRATEGIC PLANNING
Strategies that fail may be due to:
-STRADDLING AN ATTEMPT TO ASSUME SEVERAL STRATEGIC POSITIONS CONCURRENTLY
- or UNBRIDLED PURSUIT OF GROWTH
is about equipping an organization to thrive in a competitive market.
BUSINESS STRATEGY
