Paying For Healthcare
Definitions
Types of Budgets
LVHN Budgeting Tools
Staff Impact
100
Largest payer of healthcare reimbursements
What is Medicare
100
Quantitative statement of the plans and expectations of a defined area over a specific time
What is a budget
100
Expected revenue vs. expected expenses for the fiscal year
What is operating budget
100
List all the surgical supplies and the cost of these supplies that a specific doctor needs for a particular procedure
What is a doctor's preference card (DPC)
100
Committee that is focused on saving money through recycling
What is the green committee
200
Pays a healthcare provider a set amount based on the patient’s condition
What are Diagnosis-related groups (DRGs)
200
Done by gathering information and utilizing sophisticated and complex forecasting methods to make projections
What is budgeting
200
Projected salary cost for the fiscal year within a given cost center
What is personnel budget
200
This tool shows all the staff that have been charged to a cost center
What is the labor distribution worksheet
200
By doing this, staff can have a positive impact on the labor budget
What is avoiding sick time, limiting overtime
300
Aimed at increasing the rate of health insurance coverage and reducing overall cost of health care
What is Patient Protection & Affordable Care Act or Obamacare
300
Part of the labor budget process which compares our hospital staffing with one of a similar size and is an indicator used to set staffing goals
What is benchmarking
300
Organization allocates funds throughout the network based on senior management’s decisions
What is capital budget
300
Looks at all revenue and expenses for a given cost center
What is a line budget
300
By keeping this up to date, staff can help cut costs during surgical procedures
What is a doctor's preference card
400
The second largest payer of healthcare reimbursements
What is private insurance
400
Standard within peri-op that engages nurses and physicians to evaluate evidence based quality indicators
What is the National Surgical Quality Improvement Program (NSQIP)
400
Includes all supplies and non-salary expense - patient care related supplies, office supplies, rental fees, maintenance cost, service contracts, etc.
What is the supply budget
400
One of these needs to be sumbitted in order to replace broken surgical instruments
What is an order request form
400
By decreasing waste and identifying opportunities to increase efficiency nurses do this
What is reduce costs
500
In the mid-1980s DRGs were created to control medical costs of these individuals
Who are Medicare recipients
500
Operating system that engages nurses, managers, and senior leadership in a culture transformation
What is LEAN
500
Any request costing more than $5000 is sumbitted to this budget
What is capital budget
500
Involves a lengthy, complex process
What is Electronic Capital Request Form
500
The largest percentage of the budget and also the area inwhich staff has the greatest influence
What is personnel budget
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