Strategic Business Unit - ANSWER profit center focused on product line or market
segment
Span of Control - ANSWER the number of subordinates who report directly to a
manager
Reserved Powers - ANSWER Decisions permanently vested in the central corporation
of a multi corporate system.
Mission - ANSWER -A statement of purpose - the good or benefit a HCO intends to
contribute.
-Is couched in terms of an identified community, a set of services and specific level of cost or
finance
Management Letter - ANSWER Comments of external auditors to the governing board
that accompany their audited financial report
Licensed Independent Practitioner (LIP) - ANSWER A caregiver granted legal status to
provide specific kinds of healthcare.
Joint Venture - ANSWER -A corporation jointly owned by 2 or more independent corps
-joint ventures always have capital invested by both or all partners.
-Usually have a joint governance and management teams
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segment
Span of Control - ANSWER the number of subordinates who report directly to a
manager
Reserved Powers - ANSWER Decisions permanently vested in the central corporation
of a multi corporate system.
Mission - ANSWER -A statement of purpose - the good or benefit a HCO intends to
contribute.
-Is couched in terms of an identified community, a set of services and specific level of cost or
finance
Management Letter - ANSWER Comments of external auditors to the governing board
that accompany their audited financial report
Licensed Independent Practitioner (LIP) - ANSWER A caregiver granted legal status to
provide specific kinds of healthcare.
Joint Venture - ANSWER -A corporation jointly owned by 2 or more independent corps
-joint ventures always have capital invested by both or all partners.
-Usually have a joint governance and management teams
1
