Section 4.1 Flashcards
Describe integrating systems
The process of bringing together sub systems into one system and ensuring that the subsystems function together
What is an insurance agent?
A person employed to sell insurance policies
What is an inspection?
Careful, examination or scrutiny by various agencies a manager should always be aware of the standards necessary to pass these inspections
What is Internet accessibility?
Refers to the inclusive practice of removing barriers that prevent interaction with or access to websites
Describe inventory turnover
The relationship between cost of total items sold and the inventory value, computed by dividing the costs of the inventory by the average inventory value
What is an inventory audit?
An accounting procedure used to keep track of products and merchandise
What is LAN?
Local area network - a computer network that links devices within building or group of buildings
What is markup?
The amount added to the cost price of goods to cover overhead and profit
What is a review and examination of practice records to assess accuracy and completeness called
Medical record audit
What is the written report by a DVM on the animal they treat called
Medical records
What is the written report by a DVM on the animal they treat called
Medical records
The language that is used to accurately describe the patient’s body conditions, processes and procedures in a science-based matter
Medical terminology
What is mitigation?
The action of reducing the severity, seriousness or painfulness of something
What is the document called that describes the processes and systems that accompany uses to produce its goods and provide its services
Operations manual
A supply or quantity in excess of demand or requirements is called what
Overstock
What is it called when a practice no longer uses physical medical charts and relies on electronic medical records
Paperless or paper light
What is PCRI compliance?
Payment card industry data security standard is designed so that companies store credit card information in a secure environment
What is a PEST analysis?
The use of four factors to help scan the external macro environment in which the practice operates-political economic, sociocultural, and technological
What is the pharmacy?
A store where medicinal drugs are dispensed and sold
What is a problem oriented veterinary medical record (povmir)
A medical record designed to organize patient info by the presenting problem includes a problem list
Documents used to ensure tasks have been completed in a specific manner
Procedural logs
What do you call the guarantee that a manufacturer makes regarding the condition of its product
Product warranty
What is QOH?
Quantity on hand-current number of units currently in stock
The transfer of the legal and physical custody of permanent records
Record transfer
What is regulatory risk management?
Defined as the risk of having the licensed to operate, withdrawn by a regulator or having conditions applied that adversely impact the value of a practice
What is required content?
Every state has a veterinary practice act that defines the required content and each patient’s medical record
What is risk management?
The identification assessment and prioritization of risks, followed by application of resources to minimize risk
A set of actions to protect the confidentiality and integrity of information or data
Security standards
A set of actions to protect the confidentiality and integrity of information or data
Security standards
What is a service warranty?
I guarantee which provides assurance to the other party that specific conditions are true
What is shrinkage?
Unexplained or difficult to isolate inventory loss
What is a SMART goal?
Specific, measurable, attainable, relevant, time bound
What are programs or applications that run on computers called
Software
Medication or food that is ordered by a client typically because it’s not kept in stock
Special order
What are stakeholders?
An individual or group with an interest in a particular business usually they have something at risk
What a practice leaves in and recommends for its patience
Standards
What is a SWOT analysis?
Strengths, weaknesses, opportunities, threats-a tool used to analyze the above when making a plan
What is a SOAP
A medical record used that includes subjective objective assessment and plan
What is a tactic?
A plan or action to achieve a specific end, typically within a short time frame
What is a unit of measure or buy sell ratio
A unit of measure must be assigned to all inventory items before it can be entered into inventory
What is the analysis tool called for strategic planning and goal setting the describes a series of activities with each stage adding value to the final product
Value chain analysis
What is a value proposition?
Description of the value that a product service or process will provide to the pet owner, hospital and staff
What is a VPS
A veterinary practice scorecard is a tool that assists and identifying and targeting measurable performance goals
What is a VPS
A veterinary practice scorecard is a tool that assists and identifying and targeting measurable performance goals
What is the act of purchasing goods in large quantities usually with a financial incentive called
Volume purchasing
A form that is signed by the owner declining the veterinarians recommendations
Waiver 
The timeframe that a product or service is guaranteed
Warranty.
A planner action to achieve a specific end, typically within a long time frame
Strategy
A process for identifying and developing new leaders who can replace old leaders when they leave
Succession planning
What are third-party lenders?
An outside lending service for clients with large balances, offering the option to pay back the balance overtime
Methods for collecting employee hours worked
Time clock systems
Describe time off accrual
Benefits earned by an employee usually based on years of service may include vacation sick or personal time
How often should you be making deposits?
Timely deposits. Deposits should be made as often as possible, preferably daily failing to make timely deposits increases the risk of error and risk of misappropriation of funds.
Definition of transaction
An instance of buying or selling something
What is a written record of a financial transaction?
Transaction receipt
What does employment insurance?
A source of income for workers who have lost their jobs through no-fault of their own
Describe variable costs
Costs that increase or decrease as a dollar amount in direct relation to the volume of practice activity
The quantity of good sold or services sold in the normal operations of a company in a specified. Period
Volume
A fixed regular payment on a daily weekly basis made by an employer to an employee
Wages
A cancellation from an account of a bad debt or worthless asset
Write off
