The Big Business of Health Care and You

Question 1

Agent

Answer 1

one who has authority to act on behalf of another

Question 2

Bylaws

Answer 2

regulations adopted by a corporation or association to govern its internal affairs

Question 3

Certification

Answer 3

A record of being qualified to preform certain acts after passing an examination given by an accredited professional organization.

Question 4

Capitation

Answer 4

payment in a lump sum to physicians, HMOs, and healthcare facilities to deliver health care to a segment of the population.

Question 5

Directors

Answer 5

those elected and terminated by stockholders to manage corporation

Question 6

Conglomerate

Answer 6

A corporation diversifying operations by acquiring varies enterprises.

Question 7

Fee-for-service

Answer 7

basis of professional billing, either so much per hour or per identified procedure.

Question 8

Dividends

Answer 8

distributed profits of a corporation

Question 9

Joint venture

Answer 9

a group of persons together performing some specific business undertaking that is limiter in duration or scope

Question 10

Investment

Answer 10

Expenditure of resources ( money, effort, ect.) to secure income or profit.

Question 11

Legal entity

Answer 11

an individual or organization that has legal capacity to contract, incur and pay debts, and sue and be sued.

Question 12

Reasonable person

Answer 12

a prudent person whose behavior would be considered appropriate under the circumstances.

Question 13

Negligence

Answer 13

failure to act with reasonable and prudent care given the circumstances stances.

Question 14

Negotiated fee schedules

Answer 14

The process of the submission and consideration of offers until an offer is accepted. Fee schedule refers to the amount an insurance company or other third-party payer will reimburse for a medical procedure.

Question 15

Per capita payment

Answer 15

pay equally according to the number of individuals

Question 16

Notice

Answer 16

an announcement of pertinent information to those intrested.

Question 17

Officers

Answer 17

person holding formal position of trust in an organization, especially those involved in high levels of management.

Question 18

Registration

Answer 18

fulfilling administrative qualifications for a licensed profession; may require specific testing or training or other vetting.

Question 19

Respondeat superior

Answer 19

legal theory that requires an employer be responsible (vicariously liable) for the behavior of an employee working within the scope of employment.

Question 20

Utilization review

Answer 20

A process by which hospitals review patient progress to efficiently allocate scarce medical resources.

Question 21

Vicariously liable

Answer 21

legally obligated for the acts of other