Questions and Answers
Affirmative Action ✅✅"Employment equity" promotes equal opportunity and ethnic diversity in
the workplace, public contracting, in education, and in health programs.
Ethnic Diversity ✅✅Quality of diverse and different ethnic groups or persons, as opposed to a
monoculture
Leveraging Diversity ✅✅A leader fosters an inclusive workplace where diversity and individual
differences are valued and leveraged to achieve the vision and mission of the organization
Equal Opportunity ✅✅Fairness of various opportunities
Team Nursing ✅✅Team leader (RN) manages the care for a small group of patients
Functional Nursing ✅✅Each nurse performs specific tasks for all patients in a given area
Primary Nursing ✅✅The RN performs advanced nursing function for a group of patients for a 24
hour time period and from admission to discharge
Total Patient Care Nursing ✅✅The RN is responsible for all indirect and direct patient care
functions, and he or she communicates needs, changes, and requests for assistance with a charge
nurse or team leader
Biomedical Waste ✅✅EPA implements laws to protect human health and the environment on the
federal level, and this organization provides guidelines for the state. Programs and rules regarding
this disposal are primarily regulated on the state level.
Human Capital Management ✅✅An approach to employee staffing that views people as assets
Financial Management ✅✅An approach to the allocation of resources
Staffing Distribution ✅✅The determination of the number of personnel allocated per shift, nurse
executives are usually responsible for this
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Strategic Alignment ✅✅Part of a human capital management, where goals, mission, and
organizational objective are all considered
Revenue ✅✅Total amount of income anticipated during a specified period of time
Expense Budget ✅✅Budget that Contains both salary and non salary items
Alliance Program ✅✅Program that Works in conjunction with several other organizations that are
involved with workplace health and safety, not budgeting
Depreciation ✅✅An income tax deduction that is an annual allowance for the wear and tear or
deterioration of the property. It allows a taxpayer to recover the costs or other aspects of specific
property.
Tangible property ✅✅Property that Can be depreciated, such as, machinery, equipment,
buildings, furniture, and vehicles
Intangible property ✅✅Property that can be Depreciable, including copyrights, patents, and
computer software
Staffing Mix ✅✅"Staffing ratio" Is the ratio of various types of personnel to one another. May be
more or less weighted toward the use of RNs, depending on the philosophy of the facility. Often
determined by legislation particularly for ICUs and ERs
Variable Costs ✅✅Costs that Fluctuate in response to either external or internal influence, such as
patient acuity, census, staff mix, and product cost
Fixed Cost ✅✅Costs that remain constant for the facility regardless of fluctuations such as fees
and insurance premiums
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Business Plan ✅✅Plan that uses economic justification to show financial officers and elected
board officials the necessary information. Helps decision makers decide what to do and if the choice
is right for the organization
Return on Investment ✅✅Calculation of the most tangible financial gains or benefits that are
expected from a given project compared to the costs for implementing a program or solution
Cost Benefit Analysis ✅✅The exercise of evaluating a planned action by determining what the net
value is for the organization. Positive minus the negative factors equals whether something is
profitable.
Industrial Model of Productivity ✅✅A model that Measures the ratio of work output to work
input and is considered representative of efficiency
Systems Framework of Productivity ✅✅A framework that Involves both efficiency and efficacy,
with efficiency including nursing output and efficacy including quality and appropriateness
Depreciation ✅✅These are steps:
Set by IRS...
1. The property must have a determinable useful life of one year or more;
2. The taxpayer must own the property;
3. The taxpayer must use the property for business or in an income producing aspect;
4. The taxpayer can depreciate any capital improvements from property that is leased. If the
property is used for personal purposes as well as business, the taxpayer can only deduct
depreciation based only on business use.
Risk Management ✅✅Problem focused approach to reduce the frequency and severity of injuries,
accidents, and adverse events
Cost Containment ✅✅An approach to managing finances that employs such strategies as risk
management, reduction in staff, and reduction in services
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pay Per Coordination ✅✅Payment method in which benefits are linked with the concept of
paying for care coordination, which involves support services or other work that is not available
under a fee for service model
Fee for service ✅✅Payment method in which standard payment option that a relates one
payment for one service
Pay for performance ✅✅Payment method in which the health care insurer or other payer
compensates healthcare facilities and physicians based on performance
Bundled payments ✅✅Payment covers the services delivered by two or more providers during a
single care episode over a certain period of time
Resource based relative value scale system ✅✅Payment system that establishes a standardized
payment schedule based on resource based scale. Payments are calculated by multiplying the costs
of a service by a monetary amount determined by CMS.
FTE ✅✅Total hours (days in the week x hours of shift). Divide by the workweek hours.
Occupancy Rate ✅✅Total annual patient days x 100 divided by number of beds x 365. Higher the
rate the more profitable. To raise the rate increase admissions, decrease number of beds, or
increase LOS
Average daily census ✅✅Total annual days divided by number of beds x 365
Hours per patient day ✅✅Number of hours of nursing care that must be provided. Divide the
total production hours by the number of patients
Healthy Work Environment ✅✅Elements include:
Safety - Env. safety, training, physical safety, free from abuse
Empowerment - autonomy, shared governance, opportunities for learning and growth, provide
needed resources
Satisfaction - adequate wages, reasonable workload, good scheduling of work hours