Week 1: Intro To Business/Leadership Management Flashcards
Which of the following codes, reviewed each year by a committee in the AMA are used in billing for services?
CPT
Who is the president of the APTA?
Sharon Dunn
What are two insurances which employers are currently mandated to provide?
worker’s compensation and unemployment insurance
True or False: It is not necessary to document missed or cancelled physical therapy appointments.
False.
T/F: If you are negligent you are legally responsible for another individual’s injuries.
False
What is the mandated level of PTA supervision in Mass?
general meaning you must be available by phone
What is finance?
how individuals and organizations raise, allocate and use monetary resources over time
analyzes past and forecasts future
Why is finance important to PT?
bc its in our code of ethics that we are properly reimbursed for our services by using correct codes
What is economics?
studies how individuals or organization use resources, micro vs macro
What is accounting?
concerns tracking and recording financial transaction of a business
What are most common accounting statements used?
income statement, balance sheet, cash statement
What are the 4 P’s of marketing?
product, price, place, promotion
Why is marketing important to PT?
how will a hospital or private practice get referrals
What is operations management?
deals with designing and studying systems and processes of providing goods and services
How does op mgmt fit into PT?
patient safety, wait times, revenue collection,
