The calculation is available cash divided by average daily operating expenses.
What is Days Cash on Hand?
100
A patient's stay for a condition which requires around the clock care for longer than 24 hours.
What is an Admission? Or an Admit?
100
The portion of the charge that is not allowed per the payer contract. An example is if a charge is $1,000 and the payer allows reimbursement of $750, we write off $250 as a ......
What are Contractual Allowances?
100
Compensation for employee labor
What are Salaries & Wages?
100
A Statement received from your insurance provider or 3rd party payer, indicating the benefits and charges covered and not covered by the plan.
What is an EOB or Explanation of Benefits?
200
The annual process of estimating revenue and expenditures for the upcoming year.
What is Budget?
200
A patient who comes to the hospital with an emergent need for healthcare services.
What is an ER Visit?
200
Accounts receivable which are not collectible due to the unwillingness of the responsible party to make payment.
What is Bad Debt?
200
The number of calendar days from admission to discharge, counting the day of admission but not the day of discharge
What is Length of Stay (LOS)?
200
Typically, the amount of expenses that must be paid out of pocket before an insurer will pay any expenses.
What is a Deductible?
300
A methodology that relies on a team effort to continuously improve process by removing waste.
What is Lean?
300
Labs, X-Rays and Other Services for patients not currently admitted to the hospital.
What are Outpatient Registrations?
300
Also known as Charity Care or Indigent Care. Financial assistance provided to a patient based on income.
What is Community Assistance?
300
A service obtained from a vendor for a type of expense such as; snow removal, maintenance contracts, software maintenance...
What are Purchased Services?
300
In addition to your deductible, some insurance plans may require you to pay.... Example: Pay $10 with your office visit.
What is Co-Pay?
400
The industry standard is to divide your total accounts receivable by your average daily gross revenue, with the industry average usually below 45 days .
What is Days in A/R (Accounts Receivable)
400
Office Visits which are billed using E&M codes and other 99 codes.
What are Billable Office Visits?
400
A measure of the relative complexity of services provided to inpatients at a particular hospital
What is CMI (Case Mix Index)?
400
Overall operational costs incurred by the organization that do not vary.
What are Fixed Costs?
400
A detailed plan which allows patients to pay over a period of time.
What is a Payment Plan?
500
Refers to income generated outside the organization's core activities.
What is Non-Operating Income?
500
Patients in an in-patient bed at mid-night
What is a Patient Day?
500
Charges for services provided to a patient in the inpatient setting (includes medication, labs and imaging procedures).
What is Inpatient Ancillary Revenue?
500
Goods (Supplies/Drugs) held for future use by the hospital.
What is Inventory?
500
The method frequently used in the Healthcare Industry to try to control the amount of Bad Debt by collecting at the time of service.