...Phoenix Material Week One Health Care Financial Terms Worksheet Understanding health care financial terms is a prerequisite for both academic and professional success. This assignment is intended to ensure you understand some of the basic terms used in this course. Complete the worksheet below according to the following guidelines: In the space provided, write each term’s definition as used in health care management. You must define the term in your own words. In the space provided after each term’s definition, summarize a health care management scenario that illustrates the importance of the skill, concept, procedure, or tool to which the term refers. In the scenario, you may wish to consider the following: o Why is the skill, concept, procedure, or tool necessary for accurate record keeping, operational efficiency, excellent patient services, employee management, regulatory compliance, reducing costs, forecasting, and so forth? o What successes are enabled by an adequate understanding or appropriate application of the skill, concept, procedure, or tool? o What risks or failures are associated with an inadequate understanding or inappropriate application of the skill, concept, procedure, or tool? Save the completed worksheet as a Microsoft® Word document with your name in the file name. Submit the file to your instructor. Worksheet Submitted By: |Term |Definition ...
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...University of Phoenix Material Health Care Information Systems Terms Define the following terms. Your definitions must be in your own words; do not copy them from the textbook. After you define each term, describe in 40 to 60 words the health care setting in which each term would be applied. Include at least two research sources to support your position—one from the University Library and the other from the textbook. Cite your sources in the References section consistent with APA guidelines. |Term |Definition |How It Is Used in Health Care | |Health Insurance Portability and |HIPAA is the law that provides protection |HIPPA helps with limiting what information | |Accountability Act |and privacy for health information. |can be shared one provider to another. | | |Preventing medical records from being used |These health care organizations help to | | |improperly. It also mandates all |provide the other providers with limited | | |individuals that belong to any health |information such as their name, address, | | |insurance plan. It states that these |age birthdate and dates of services, etc. | | |individuals...
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...coverage with only one prepaid fee (a deductible). Years later, there were other health and medical insurance companies who started offering coverage, such as, Kaiser Permanente and others. With both companies they offer each individual/families the same medical plan with a prepaid fee for coverage for the medical care they received (National Healthcare Reform Magazine, 2012). Over the years from the 1980’s and the 1990’s, even more organization started up, changing the microeconomic and macroeconomics of healthcare. The first one is Health Maintenance Organizations (HMO). HMO’s offers individuals a low monthly fee for coverage, which includes a little to no co-pay for service and medical visits. The way HMO works, the company pays whatever they decide they want to pay, and the patient has to pay the remaining balance of what’s left. Those carriers had the power to put restrictions on the more expensive services. These carriers could decide that a service was a risk and decide not to pay for the service for the covered individual. The HMO carrier offered low cost health care and offered plans to the individual with a cost savings (National Healthcare Reform Magazine, 2012). With HMO plans that only cover low risk level treatment, some individuals started to turn to another plan, Point of Service (POS). This plan was a mix of the HMO and the Preferred...
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...MICROECONOMICS APPLIED RESEARCH MICROECONOMICS AND LONG-TERM HEALTHCARE Cochise Community College Campus Microeconomics Cochise Community College Microeconomics and Long-term Healthcare It was not long ago that our country was going through some very difficult economic times. Job losses were on the rise, there were many issues leading to an increase in foreclosures, and many financial institutions needed to be bailed out. Many people, however, held the misconception that the health care industry was immune to the economic problems that faced our society. Many thought that those working in the health care industry had no need to worry about losing their job and that they were disconnected from the larger problems of society. Those involved with health care have to deal with issues that are faced by the rest of society. Because of this, it important that the health care industry address these problems in a timely manner due to the lives that are often dependent on their decisions. In 2009, individuals aged 65 years of age and older constituted approximately 12.9 percent of the U.S. population (A Profile of Older Americans, 2010). Projections for 2030 show there will be an increase to 20 percent of the population that will be 65 or over. The aging of the population will affect the demand for healthcare because older individuals encounter more frequent and prolonged spells of illness. Those individuals that are...
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...Care Information Systems Terms Define the following terms. Your definitions must be in your own words; do not copy them from the textbook. After you define each term, describe in 40 to 60 words the health care setting in which each term would be applied. Include at least two research sources to support your position—one from the University Library and the other from the textbook. Cite your sources in the References section consistent with APA guidelines. Term | Definition | How It Is Used in Health Care | Health Insurance Portability and Accountability Act | The Health Insurance Portability Act, or HIPAA, is government legislation that was designed to protect all aspects of a patient’s healthcare. According to Wager, Lee, and Glaser (2009), we are primarily interested in the information generated or used by healthcare organizations such as hospitals, nursing homes, physicians’ offices, and other ambulatory settings. | According to Walters-Salas (2012), HIPAA is a federal law that contains a strong privacy rule that regulates the use and disclosure of Protected Health Information (PHI). PHI is any information that concerns health status, provision of healthcare, or payment for healthcare that can be linked to an individual. This legislation clearly set the mold of what will be protected in a patient’s healthcare. | Electronic medical record | The Electronic medical record, or EMR, is a computerized generated record of a patient’s healthcare. According to Wager,...
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...Economic Terms and Healthcare History Natalie Ward University of Phoenix HCS/440 1/30/2012 Economic Terms and Healthcare History Health care economics have drastically changed over the course of history in the United States. While some can contribute these changes due to the evolutionary changes the US has undergone since the beginning, the major contributing factors that influence the changes in health care economics are advances in technology and medical care. “To help ease the healthcare problem, Baylor Hospital in Dallas created a system - which eventually became Blue Cross - to help people pay their hospital bills. As science, medicine, and hospitals grew more sophisticated and more successful, more people turned to hospitals and doctors for care - and costs continued to rise. Blue Shield insurance for doctors' services started gaining ground in the late '30s as a way for doctors to protect their interests and their payments” ("How Did Healthcare Come About In The United States?", 2012). It is essential to remember that the driving force behind health care economics is money, and it plays a vital part to the success of the health care industry. In the past, the greater part of us paid medical bills with private funds; today insurance companies cover the bulk of the payment, with people paying only a small portion of the total. It is important to understand healthcare economic history, and the cash flow system. Today, financial managers are...
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...Definition of Terms Shaun W. VanDevender HCS/533– Health Information Systems Professor Derrick Dugeon September 1, 2014 Definition of Terms Technology has greatly changed health care in many different ways. This change has been gradual, progressing over several years; it has been very profound, nevertheless. Understanding these changes is important for experienced health professionals and newcomers alike. The following paragraphs will provide some definitions for the following important abbreviations: AMR, CMR, CMS, CMS-1500, CPT, DRG, EPR, HL7, ICD-9, and UB-92. In addition, the importance of each term will be discussed. AMR According to Techtarget.com an ambulatory medical record (AMR) is an electronically stored file of a patient’s outpatient medical records, which includes all surgeries and care that do not involve being admitted to a hospital. An AMR is similar to an electronic medical record (EMR) but while EMRs keep track of inpatient care (surgeries and care that require spending overnight or longer in a hospital), AMRs only apply to medical procedures and care that do not result in an overnight stay in a hospital or that are given in non-hospital settings such as urgent care clinics, physicians’ offices and at-home medical care. AMRs assure that patients receive appropriate care. AMRs provide clinicians information they need to get a complete picture of the patients health. In addition, consumers can use the health information in the AMR to better communicate...
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...more than just the different facilities; it affects the number of medical professionals needed to staff the facilities. The need for registered nurses, licensed practitioner’s, nurse aides, home health, personal care workers, and physicians will also increase from 1.9 million in 2000 to about 45 percent in the year 2040. We will see another rise in growth for direct care workers in long-term care by 2030 when the baby boomers reach the age of 85. The expected growth equates to about an additional 3.8 to 4.6 million. One of the problems the country will face is that the increased need of workers will not increase at the same rate as they are needed. Currently unpaid informal caregivers, such as, family members, neighbors; and friends provide the majority of care. This is expected to increase from about 20 million in 2000 to 37 million by the year 2030. This is an estimated increase of about 85 percent. Another challenge that will occur is to keep the current long-term workers and add new ones to the industry prior to the need. A challenge with this is that the majority of current long-term workers are women between the ages of 25 and 54. This group will increase to about 9 percent by 2030. The work environment will become highly competitive. The supply is low...
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...Chapter One 1. A. What are some of the industries in the healthcare sector? The major industries in the healthcare sector includes health services, health insurance, medical equipment and supplies, pharmaceuticals and biotechnology, and other (includes a diverse collection of organization ranging from consulting firms to educational institutions to government and private research agencies. B. What is meant by the term healthcare finance as used in the book? Finance, as the term is used within the health services industry and as it is used in the book, consists of both the accounting and financial management functions. C. What are the two broad areas of Healthcare Finance? Accounting as its name implies, concerns the recording, in financial terms, of economic events that reflect the operations, resources, and financing of an organization. Financial management or corporate finance, provides the theory, concepts, and tools necessary to help managers make better financial decisions. Certain aspects of accounting involve decision making, and much of the application of financial management theory and concepts requires accounting data. D. Why is it necessary to have a book on healthcare finance as opposed a generic finance book? The reason is that while all industries have certain individual characteristics, the health services industry it truly unique. 2. What is the difference between a business and a pure charity? A business such as a hospital or medical...
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...Phoenix Material Week One Health Care Financial Terms Worksheet Understanding health care financial terms is a prerequisite for both academic and professional success. This assignment is intended to ensure you understand some of the basic terms used in this course. Complete the worksheet below according to the following guidelines: In the space provided, write each term’s definition as used in health care management. You must define the term in your own words. In the space provided after each term’s definition, summarize a health care management scenario that illustrates the importance of the skill, concept, procedure, or tool to which the term refers. In the scenario, you may wish to consider the following: o Why is the skill, concept, procedure, or tool necessary for accurate record keeping, operational efficiency, excellent patient services, employee management, regulatory compliance, reducing costs, forecasting, and so forth? o What successes are enabled by an adequate understanding or appropriate application of the skill, concept, procedure, or tool? o What risks or failures are associated with an inadequate understanding or inappropriate application of the skill, concept, procedure, or tool? Save the completed worksheet as a Microsoft® Word document with your name in the file name. Submit the file to your instructor. Worksheet Submitted By: [Kim Benke] |Term |Definition ...
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...1 Health Care Information Systems Terms HCS/483 Healthcare Information Systems - Week 1 Name: Guidelines: Please use this form to submit your assignment and NOT the one on the UOPX website. Define the following terms. Your definitions must be in your own words; do not copy them from the textbook. After you have defined each term in your own words, describe in at least 50 words the health care setting in which each term would be applied. Utilize a minimum of two research sources to support your claims—one from the University Library and the other from the textbook. Be sure to cite your sources in the References section consistent with APA guidelines. This assignment is due Week One. 1. Health Insurance Portability and Accountability Act (HIPAA) Definition This was a federal law placed to protect patient information. How Used in Healthcare HIPAA is used to safeguard and protect patient information and without the use of HIPAA, private patient information could be exposed. HIPAA is critical because it could have an effect on health care workers, patients and the health care facility as well. Violation of HIPAA laws could cause a health care worker to lose their job, it could violate a patient’s rights, and it could damage the facility’s credibility. 2. Electronic medical record Definition An electronic medical record is a computerized medical record used to store patient information. How Used in Healthcare Electronic medical records are used...
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...Guide Queensland Health Guide to Informed Decision-making in Healthcare Disclaimer The information within the Guide to Informed Decision-making in Healthcare is intended as a guide to good clinical practice. The law and service delivery environment is constantly evolving, so while every attempt has been made to ensure the content is accurate, it cannot be guaranteed. The information within this document should not be relied upon as a substitute for other professional or legal advice. ISBN 9781921707391 ©State of Queensland (Queensland Health) 2011 First edition February 2012 This work is licensed under a Creative Commons Attribution Non-Commercial 2.5 Australian license. To view a copy of this license, visit http://creativecommons.org/licenses/by-nc/2.5/au/ In essence, you are free to copy, communicate and adapt the work for non-commercial purposes, as long as you attribute the Patient Safety and Quality Improvement Service, Queensland Health and abide by the license terms. For further information, contact: Informed Consent Program Manager Patient Safety and Quality Improvement Service Centre for Healthcare Improvement, Queensland Health PO Box 152 Herston Queensland 4029 tel (+61) (07) 3646 9715 psq@health.qld.gov.au www.health.qld.gov.au/chi/psq/ For permission beyond the scope of this license contact: Intellectual property Officer Queensland Health GPO Box 48 Brisbane Queensland 4001 tel (+61) (07) 3234 1479 ip_officer@health.qld.gov.au Forward Patient-centred...
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...Terms Comparison Paper HCS 552 May 25, 2015 Terms Comparison Paper According to the American Economic Association (2011) economics studies how people make choices when they want to utilize resources. This fundamental process links economics and health care together because health care professionals use economic principles in their everyday professional behaviors. Health care organizations do their best to use the same concept of economics when they decided how to allocate resources and plan how to use them because it is essential to their survival. Therefore, health care and economics are connected in the sense of sharing the same terms such as resources, quality, and cost. The objective of this paper is to analyze how the terms of cost, quality and resources are similar and yet dissimilar in healthcare and economics. Resource The term resource is defined as the product, asset, or other service with limited availability utilized to generate commodities and services that convene to human requirements and desires (Gretzen, 2007). As a result of these resources can be restricted, many economists, decision makers, and health care providers are forced to find ways to efficiently allocate resources within their organization in order to maximize cost effectiveness. Economic resources are also found to have a substantial and considerable effect on the utilization of medical care (Chung, 2006). Healthcare services are provided to consumers by the utilization of resources...
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...1.1 a. what are some of the industries in the healthcare sector? * health services, insurance, equipment, supplies, drugs, and technology related to healthcare b. what is meant by the term health care finance as used in this book? healthcare finance is about accounting and financial management in healthcare. it provides organizations and managers with information as to help them make better financial decisions. c. what are the two broad areas of healthcare finance? * Accounting and financial management d. why is it necessary to have a book on healthcare finance as opposed to a generic finance book? - healthcare business in different than general business. healthcare services are mostly from not for profit corporations, which work with the normal investor owned corporations. because of insurance it also has third-party payers. 2. what is the difference between a business and pure charity? -businesses try to make profit, invest in its business. Charity work is non profit, and don’t make their revenue by selling their services. 3. a. briefly discuss the role of finance in the health services industry. -Finance is used to maximize efficiency and value. Also to implement cost controlling strategies. b. has this role increased or decreased in importance in recent years? increased. before healthcare used to make high profits and revenue, now its not so easy to be successful. finance is important and negligence in this department...
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...Healthcare Terms Alicia Jones HCS/235 June 17, 2012 Barbara Williamson Healthcare Terms Medicare- Medicare is a type of insurance that is mainly set in place for the elderly, over 65 years of age. You can also qualify for Medicare if you are under the age of 65 years old but you have a certain type of disability. There are four different parts of Medicare coverage. There is Part A which covers the patient’s hospital care, nursing homes, or home health care. With Part A insurance most people do not have to pay a premium. Part B covers the medical side of everything including doctors’ visits, medical equipment, and things of that nature. However, the patient does have to pay a premium each month with this type of insurance. Part C covers both Part A and B insurance. It does come with other benefits but most of the time people have to pay extra for those services. Part D covers prescription drugs. It helps a great deal with the cost of prescription drugs because they can really be costly for people. The fund to keep Medicare going is coming out of taxpayers’ checks every time they get paid. This is called FICA (Federal Insurance Contributions Act). They also get funding from copays, premiums, and deductibles. Medicaid- Medicaid is a type of insurance that is set in place for children, families with low income, pregnant women and other people who qualify. It was established in 1965 by President Johnson to help those that were in need. Medicaid is joined together with both...
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