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LABORATORY MANAGEMENT > LABMAN SEMINAR 3 RECALL > Flashcards

LABMAN SEMINAR 3 RECALL Flashcards

1
Q

It is the supply, labor and overhead money spent on a product or service

A

Cost (expense)

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2
Q

Importance of identifying the costs:

A

i. To accurately price tests and other services
ii. Determine when and how to offer new tests
iii. Determine whether to acquire new outreach client business or a managed care contract.

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3
Q

Cost classification:

A

DISCOVFN
Direct costs
Indirect costs
Variable costs
Fixed costs
Salary costs
Non-salary costs
Operating costs
Capital

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4
Q

These are expenses that can easily be traced directly to an end product. In the laboratory setting, the end product is a billable test.

A

Direct costs

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5
Q

Are often referred to as overhead costs because they are not directly responsible to a billable tests but are necessary for its production.

A

Indirect costs

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6
Q

It is the costs that varies depending on the test volume

A

Variable costs

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7
Q

Do not change with the volume of tests performed

A

Fixed costs

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8
Q

Fixed costs vary with the activity of the laboratory. True or False?

A

True

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9
Q

50-70% of the laboratory budget

A

Salary costs

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10
Q

Components of the salary costs:

A

Hourly rate pay or salaried wage
Fringe benefits
Other costs: GOSTIR
Growth and development costs
Orientation
Selection process
Training
Interview
Recruitment

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11
Q

The expenses incurred to produce a product or service

A

Operating costs and Capital costs

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12
Q

Some items, on the other hand, is a capital item. Before it can be recognized as a capital item it must have three (3) criteria:

A

Time
Price
Purpose

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13
Q

The annual loss of a capital item’s value

A

Depreciation

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14
Q

An item that is has not yet been fully depreciated means that it still has a

A

“Book value”

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15
Q

The operating costs and the capital costs should be budgeted as one. True or False?

A

False, budgeted separately

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16
Q

It determines the total direct labor and supply costs of producing a test, and is the starting point to determine the fully-loaded cost and ultimately the price for a test

A

Micro-costing

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17
Q

Test run is also known as

A

Run

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18
Q

Test run is composed of:

A

Test sample
Calibration
Quality control

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19
Q

Distributes the total direct costs of a run over the patient ‘reportable’ results for that run

A

Cost per reportable result (CPRR)

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20
Q

It depicts the efficiency of the test over a population of a “reportable” test results of the patients

A

Cost per reportable result (CPRR)

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21
Q

The more repeats and controls performed, the lower the efficiency and the higher the CPRR. True or False?

A

True

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22
Q

The cost of producing one additional test that, typically, does not require additional salary or capital

A

Incremental cost

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23
Q

The incremental cost is usually the highest possible cost incurred to produce a result. True or False?

A

False, lowest

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24
Q

The addition of the staff or acquisition of a new laboratory equipment may be based on the incremental costing analysis of the tests available in a certain laboratory. True or False?

A

True

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25
Q

Total direct and indirect costs

A

Fully loaded cost

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26
Q

The balance remaining after the fully loaded costs are deducted from the price charged for a test

A

Contribution margin

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27
Q

The total price of services rendered or products sold

A

Revenue

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28
Q

It is the money a business is entitled to receive for the services and products it produces

A

Revenue

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29
Q

The total charges at a facility’s full-established rates (list prince) for the provision of inpatient and outpatient are before deductions from revenue are applied

A

Gross patient revenue

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30
Q

The gross inpatient and outpatient revenue minus all related deductions

A

Net patient revenue

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31
Q

Deductions from revenue include:

A

PCOC
Provisions for bad debts
Charity care
Other adjustments and allowances
Contractual adjustments

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32
Q

Describes the process of buying, learning of the need, selecting a supplies, negotiating prices and other pertinent terms and other following up to insure delivery

A

Purchasing

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33
Q

It helps in assuring adequate quality of materials

A

Product research and well developed specifications

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34
Q

It helps in assuring adequate quantity of materials for laboratory operation

A

Inventory control

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35
Q

The justification categories for the acquisition of new equipment for the laboratory

A

Replacement: NICE
1. New and/or improved methodology
2. Increased workload
3. Cost reduction
4. Equipment cannot be repaired or excessive cost of repair

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36
Q

The priority of need is also categorized are as follows:

A

DONE
Desirable
Others
Necessary
Essential

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37
Q

Needed immediately to maintain quality patient care

A

Essential

38
Q

As “essential” but greater leeway with regard to time of acquisition

A

Necessary

39
Q

Means of reducing cost

A

Desirable

40
Q

Means of improving general working conditions

A

Others

41
Q

The bases for selection of instruments are:

A

VICE ULE
Volume
Inherent accuracy
Cost
Expect downtime
Use
Longevity
Ease of operation

42
Q

Two courses of action in purchasing and installation of instrument:

A

i. Upon taking the equipment, it is wise to have in writing certain purchase conditions which include:
1. Writing diagram
2. Part manual
3. Service manual
4. Installation and instruction 5. Operation manual
ii. A 30-day trial period should be requested to give personnel sufficient time to evaluate equipment.

43
Q

The best way to assure that the equipment fulfills all the requirements is to

A

Hold payment until testing is completed

44
Q

The entire obligation for the successful initial operation function of a new instrument does not rest with the manufacturer alone. The laboratory must provide the following:

A

PACU
a. Proper space
b. Adequately trained personnel
c. Compatible environment
d. Utilities like power, water, gas, fuel

45
Q

i. Refers to scheduled preventive maintenance.
ii. Comes before the failure while the equipment is in operating condition

A

Maintenance

46
Q

i. Applies to unscheduled maintenance.
ii. Comes after the instrument has failed.

A

Repair

47
Q

The advantages of a properly implemented maintenance and repair programs are:

A

a. Provide higher quality and more reliable test results.
b. Increased laboratory output and efficiency
c. Reduce the number of major repairs and excessive costs
d. Enhance personnel safety
e. Lessen requirements for back up equipment

48
Q

Who provides the first level of maintenance?

A

Begins in the laboratory with the technologists

49
Q

First level of maintenance includes:

A

CAC
i. Cleaning
ii. Adjusting
iii. Caring for the equipment on a daily basis.

50
Q

Who conducts the second level of preventive maintenance?

A

The field serviceman or local repairman, either in the laboratory or his repair shop

51
Q

Second level of maintenance includes:

A

CLIC ART
i. Cleaning
ii. Lubrication
iii. Inspection
iv. Calibration
v. Adjustments
vi. Repair
vii. Tests

52
Q

Who conducts the third level of preventive maintenance?

A

Manufacturer at his facility

53
Q

Third level of maintenance includes:

A

Overhaul
Refurbishment

54
Q

Material that describes the operation, calibration and first level maintenance procedures of laboratory instruments

A

Instruction Manual

55
Q

The first step in implementing a preventive maintenance

A

Establish an inventory of laboratory instrument

56
Q

The second step in implementing a preventive maintenance

A

Establishment of a control-card system with a separate card for each piece of equipment

57
Q

Control card should include:

A

i. Name of instrument
ii. Manufacture’s name
iii. Serial and model number
iv. Vendor’s name
v. Purchase data
vi. Warranty period
vii. Laboratory location
viii. Scheduled maintenance date

58
Q

If no other permanent record is maintained, the card may also include the following service information:

A

i. Date sent out
ii. Purchase order number
iii. Repair contractor
iv. Return date
v. Description of repairs (optional)

59
Q

The third step in implementing a preventive maintenance

A

Establish a file for each instrument to hold
permanent records of repair

60
Q

Parameters affecting the frequency of service maintenance:

A

CPU
Cost-effectiveness
Priority
Utilization

61
Q

Several options available in laboratory maintenance and repair service:

A

MILF
Manufacture’s field organization
In-house repair groups
Local repair contractor
Full-time technician

62
Q

Advantages of employing a full-time repair technician

A

ICF
Improved response to emergency calls
Cost savings
Flexibility in scheduling

63
Q

A complete label include:

A

i. Product name (cane generic or trade name)
ii. Intended use of the product
iii. Name and address of the manufacturer, packer, or distributor to whom the consumer may direct the inquiries.
iv. Lot number
v. Weight and volume concentration
vi. Storage information and expiration date
vii. Cautionary statement
i. Prominently displayed safety and hazard warning

64
Q

Written form included to a package but not affixed to the container

A

Inserts

65
Q

Directions for use should be included in the inserts. The following should be given:

A

i. Reconstitution and stability of reconstituted product
ii. pH, working and stability, dilution, or other working factors
iii. Precautions
iv. Type of specimen that may be tested and its preparation

66
Q

Orders should be placed only by authorized staff members who are familiar with the quality of service and reliability of suppliers. True or False?

A

True

67
Q

Vendor agrees to deliver goods at a predetermined price as notified by the laboratory

A

Release orders

68
Q

Vendor agrees to deliver goods at a pre-determined price and on established schedule

A

Standing order

69
Q

Three documents are usually involved in the purchasing process:

A

i. Purchase requisition
ii. Packing slip
iii. Payment

70
Q

Purchase requisition is also known as an

A

Order

71
Q

States the desired goods or services with an estimate
of the cost

A

Purchase requisition

72
Q

Point at which on-hand supplies are sufficient to carry the laboratory until the goods on order are received

A

Low level inventory system

73
Q

The level which will meet the laboratory’s requirement for a longer period of time, such as several months to year

A

High point/upper limit

74
Q

The primary factors determining levels of inventory system

A

AASA
i. Anticipated delivery time for each item
ii. Available storage space
iii. Shelf-life of the item
iv. Anticipated rate of usage

75
Q

Budgeting is the process of:

A

a. Planning
b. Forecasting
c. Controlling
d. Monitoring

76
Q

The laboratory typically uses a pro forma budget - “predetermined set form” of budgeting:

A

i. Expected annual revenue
ii. Expense based on various projections
iii. Assumptions

77
Q

The pro forma budget uses the data in a one-year routine to project the data for the next year. True or False?

A

True

78
Q

A zero-based budget has a baseline. True or False?

A

False, no baseline

79
Q

The zero-based approach is used by the laboratory managers to propose for a new service or a new section within its scope. True or False?

A

True

80
Q

Budget used to fund large capital projects like acquiring an instrument or information system, or remodeling the laboratory

A

Capital Budget

81
Q

Operational budget must be linked to the capital budget. True or False?

A

True

82
Q

Operational budgets must generate surplus revenue to fund capital projects. True or False?

A

True

83
Q

The difference between the projected budget and the actual revenue and expenses

A

Variance

84
Q

Two types of variance:

A

i. Positive variance
1. Less than expected revenue or expenses
ii. Negative variance
1. More than expected revue or expenses

85
Q

The variance should be analyzed to determine the controllability of the programs and services. True or False?

A

True

86
Q

The statement of an organization’s financial position at a specific point in time

A

Balance sheet

87
Q

Also known as the statement of profit and loss

A

Income statement

88
Q

Summarizes the organization’s revenues and expenses over an accounting period, usually quarterly or annually

A

Income statement

89
Q

Shows the amount of cash generated by an organization over a period of time, usually a calendar or fiscal year

A

Statement of cash flows

90
Q

The measurement of an organization’s products or services against specific standards for comparison and improvement

A

Benchmarking

91
Q

Type of benchmarking that measures the laboratory’s productivity over time

A

Internal benchmarking

92
Q

Type of benchmarking that compares the laboratory’s productivity with other laboratory

A

External benchmarking

LABORATORY MANAGEMENT (5 decks)

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