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Health Care Financial Terms and Statements
Understanding health care financial terms and statements is a prerequisite for academic and professional success. This assignment is intended to ensure you understand some of the basic terms and statements used.
Complete parts A and B of this worksheet.
Part A:
Complete the table below according to the following guidelines:
Term
Definition
Scenario
Controlling
Decision-
making
Organizing
Planning
Original
records
Revenue cycle
Payer mix
Revenue
Capital expenditure budget
Direct cost
Flexible budget
Operating budget
Responsibility center
Forecast
Full-time equivalents
Noncontrollable expenses
Nonproductive time
Staffing
Situational analysis
SWOT analysis
Part B:
Resources:
Complete the table below.
In 100 to 125 words, identify the purpose of the financial statement listed and provide an example of how the statement is used.
Financial Statement
Purpose of Statement
Example of Use
Balance sheet
Income statement
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