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

Question details:

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.

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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:

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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.

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