Understanding health care financial terms, Health & Medical Assignment Homework Help

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Week Two 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 that the term refers to in
125 to 150 words. In the scenario, you may wish to consider the following:

o 
Why the skill, concept, procedure, or tool is
necessary for accurate record keeping, operational efficiency, excellent
patient services, employee management, regulatory compliance, reducing costs,
forecasting, and so forth

o 
Successes enabled by an adequate understanding
or appropriate application of the skill, concept, procedure, or tool

o 
Risks or failures 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:

[Type your name here.]

Term

Definition

Scenario

Balance sheet

Statement of revenue
and expense

Revenue cycle

Payer mix

Revenue

I have attached to documant 

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