SPEA H 401 Midterm| QUESTIONS WITH COMPLETE SOLUTIONS

1984 Correct Answer: Oct. 1, 1984a prospective payment fee schedule came out C-suit Correct Answer: executive level class (CEO CFO COO) Advertising budget Correct Answer: advertising budget is estimate of a company's promotional expenditures over a certain period of time American college of healthcare executives Correct Answer: international professional society of 48,000 healthcare executives who lead hospitals, healthcare systems and other healthcare organizations. ... ACHE offers its prestigious FACHE® credential, signifying board certification in healthcare management Ancillary deparyment Correct Answer: the wide range of healthcare services provided to support the work of a primary physician. These services can be classified into three categories: diagnostic, therapeutic, and custodial Balanced scorecard Correct Answer: At a glance, the scorecard shows an organization's goals and how to achieve them. The scorecard is usually divided into several areas that the organization considers important to achieving its mission. Objectives and specific measurements will demonstrate how the goal is progressing. Target results indicate what an organization hopes or expects to achieve. Specific metrics should meet the following criteria: (1) importance to organization and staff, (2) measurability, (3) data validity, and (4) action ability. Benchmarking Correct Answer: The best-known value for a specific measure, from any source. against outstanding organizations can improve internal operating procedures, enhance quality, maximize efficiency and improve the value of healthcare services. Board of directors (trustees) Correct Answer: governing body appointed to hold fiduciary responsibility for the organization. As part of this responsibility, make policy decisions that guide the future of the organization. An essential component is the development of a strategic plan that is consistent with the mission and vision of the organization. Business Plan Correct Answer: a document setting out a business's future objectives and strategies for achieving them