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30 Cards in this Set
- Front
- Back
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Acuity Index
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Weighted statistical measurment that refers to the seviriy of illness- 4 categories. Determined by taking total of acuities then divide by number of patients
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prospective payment system that pays health care providers a fixed amount pr enrollee per month for a defined set of services regaurdless of how often they are used
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Capitation
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type of pt.s served by an institution
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Case mix
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controllable costs
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can by controled or that vairy ie number of personall employeedlevel of skill
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value of an activity or procedure in terms of benifits and the value of the activites or procedurs cost
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cost benifit ratio
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smalest functional unit for which cost control and acountability can be assingened
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cost center
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costs froma specific source ie medications
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direct cost
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budget based on a fixed annual level of voulme
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fixed budget
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costs that do not vary according to volume, ie mortgage
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fixed costs
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number of hours for which a full time emplyee is scheduled to work
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FTE
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prepaid organization that provide health care for a present amount of money per person per month basis
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HMO
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HPPD
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hours of nursing care per patient per day. total number of hours divide by number of pts
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costs that cannot be directly attributed to a specific area
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indirect costs
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indirect expenses that cannot be controlled or varied ie lighting
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noncontrollable costs
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daily cost required to maintain hospital
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operating expenses
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usually done according to acutity
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patient clasification system
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ration of RNs LPNs Ap
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staffing mix
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rate at which emplyees leave ther job other than death or retirement
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turnover rate
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turnover rate calcuation
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# of emplyees leaving by number of workers emplyeed during the year X100
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costs such a payroll
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variable costs
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patient days =
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workload units
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detailed finacial plan
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budget
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actual costs of activites undertaken by organization
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expenses
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income recieved for goods
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revenues
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income of organization that is the result of the revenu minus expenses
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bottom line
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fincial plan that deals with purcheses of equmpent land
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captital budget
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finical plan that tracks cash
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cash budget
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monitering tool used to compare actual number of full time employees with the number budgets
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possition control
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diference between actual budget and actual spending
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budget variance
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part of operating budget that deals with personall neded
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personell budget
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