HMGT 3311 Vocabulary Exam 1
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1. Accountable A group of health care providers who provide coordinated care to target patient
Care populations, with the intent of tying financial incentives to quality outcomes and
Organization lowered costs.
(ACO)
2. Capitation A system which pays providers a specific amount in advance to care for the health
care needs of a population over a specific time period. Providers are usually paid
on per member per month (PMPM) basis. The provider then assumes the risk that
the cost of caring for the population will not exceed the aggregate PMPM amount
received.
3. Care Mapping A process which specifies in advance the preferred treatment regimen for patients
with particular diagnoses. This is also referred to as a clinical pathway, clinical
protocol, or practice guideline.
4. Evidence Based Using the best evidence currently available from both individual clinical expertise
Medicine and outside research-based clinical evidence in making decisions about patient
care.
5. Group Purchas- Third-party entities that contract with multiple hospitals to offer cost savings in
ing Organiza- the purchase of supplies and equipment by negotiating large-volume discounted
tions contracts with vendors.
6. Value Based Pur- CMS has been working to improve the linkage of payment with the quality of care
chasing by implementing a value based purchasing strategy to replace its old financing
system, which basically rewarded the quantity of care.
7. Accumulated De- The total amount of depreciation taken on an asset since it was put into use.
preciation
8. Amortization The allocation of the acquisition cost of debt to the period which it benefits.
9. Assets
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, HMGT 3311 Vocabulary Exam 1
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Probable future economic benefits obtained or controlled by a particular entity as
a result of past transactions or events
10. Depreciation A measure of how much a tangible asset (such as plant or equipment) has been
"used up" or consumed.
11. Deferred Rev- An obligation to provide or deliver goods or services when the payment has been
enue received in advance.
12. Goodwill Term used when an entity pays cash and assumes liabilities in excess of the fair
value of the assets acquired in acquisition
13. Liability Probable future sacrifies or economic benefits arising from present obligations of
a particular entity to transfer assets or provide services to other entities in the future
as a result of past transactions.
14. Operating In- Income derived from the entity's main line of business.
come
15. Performance in- The FASB requires not-for-profit health care entities to include a performance
dicator indicator in their statement of operations. The FASB defines it as an intermediate
level that reports the results of operations. Note that operations includes both
operating and nonoperating items. It is analogous to income from continuing
operations or net income in an investor-owned entity.
16. Shareholders' eq- For an investor-owned entity, the residual interest in the assets of the entity that
uity remains after deducting its liabilities is known as shareholders' (or stockholders')
equity.
17. Trading security Investments in equity securities with readily determinable fair values and all in-
vestments in debt securities (except those intended to be held to maturity) are
measured at fair value and are classified as trading securities.
18.
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Study online at https://quizlet.com/_hz5tua
1. Accountable A group of health care providers who provide coordinated care to target patient
Care populations, with the intent of tying financial incentives to quality outcomes and
Organization lowered costs.
(ACO)
2. Capitation A system which pays providers a specific amount in advance to care for the health
care needs of a population over a specific time period. Providers are usually paid
on per member per month (PMPM) basis. The provider then assumes the risk that
the cost of caring for the population will not exceed the aggregate PMPM amount
received.
3. Care Mapping A process which specifies in advance the preferred treatment regimen for patients
with particular diagnoses. This is also referred to as a clinical pathway, clinical
protocol, or practice guideline.
4. Evidence Based Using the best evidence currently available from both individual clinical expertise
Medicine and outside research-based clinical evidence in making decisions about patient
care.
5. Group Purchas- Third-party entities that contract with multiple hospitals to offer cost savings in
ing Organiza- the purchase of supplies and equipment by negotiating large-volume discounted
tions contracts with vendors.
6. Value Based Pur- CMS has been working to improve the linkage of payment with the quality of care
chasing by implementing a value based purchasing strategy to replace its old financing
system, which basically rewarded the quantity of care.
7. Accumulated De- The total amount of depreciation taken on an asset since it was put into use.
preciation
8. Amortization The allocation of the acquisition cost of debt to the period which it benefits.
9. Assets
1/5
, HMGT 3311 Vocabulary Exam 1
Study online at https://quizlet.com/_hz5tua
Probable future economic benefits obtained or controlled by a particular entity as
a result of past transactions or events
10. Depreciation A measure of how much a tangible asset (such as plant or equipment) has been
"used up" or consumed.
11. Deferred Rev- An obligation to provide or deliver goods or services when the payment has been
enue received in advance.
12. Goodwill Term used when an entity pays cash and assumes liabilities in excess of the fair
value of the assets acquired in acquisition
13. Liability Probable future sacrifies or economic benefits arising from present obligations of
a particular entity to transfer assets or provide services to other entities in the future
as a result of past transactions.
14. Operating In- Income derived from the entity's main line of business.
come
15. Performance in- The FASB requires not-for-profit health care entities to include a performance
dicator indicator in their statement of operations. The FASB defines it as an intermediate
level that reports the results of operations. Note that operations includes both
operating and nonoperating items. It is analogous to income from continuing
operations or net income in an investor-owned entity.
16. Shareholders' eq- For an investor-owned entity, the residual interest in the assets of the entity that
uity remains after deducting its liabilities is known as shareholders' (or stockholders')
equity.
17. Trading security Investments in equity securities with readily determinable fair values and all in-
vestments in debt securities (except those intended to be held to maturity) are
measured at fair value and are classified as trading securities.
18.
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