An accounting method of allocating the cost of a tangible asset over its useful life; when the related expense appears on the income statement it is considered a non-cash transaction.
What is depreciation?
100
The software that St. Luke's utilizes for the decision support/cost accounting function.
What is StrataJazz?
100
Term used to describe a person or business that supplies goods or services to a company, also called supplier.
What is a vendor?
100
A method of paying employees in which electronic funds are directly deposited to bank accounts rather than through paper check.
What is direct deposit?
100
The adjustment to record the difference between the patient’s gross charges and the insurance company’s contracted rate or established fee schedule.
What is a contractual adjustment?
200
The normal balance of an asset account.
What is debit balance?
200
This term refers to the sum of discounted future cash flows, and is used to analyze a project over time, with adjustment for the time value of money.
What is net present value?
200
An itemized bill for goods sold or services provided; normally, St Luke’s will only pay off of this, rather than from a statement.
What is an invoice?
200
Regular, PTO and Sick are examples of this type of code, which help track different types of time and pay in Kronos.
What is a pay code?
200
A system of classifying a patient’s inpatient hospital stay for the purposes of reimbursement.
What is a DRG or Diagnosis Related Group?
300
A type of financial statement that shows the assets, liabilities and capital of an organization at a particular point in time.
What is a balance sheet?
300
This type of cost allocation method takes the least amount of time and effort to implement but has the lowest accuracy at a detailed patient level.
What is ratio of cost to charge (RCC)?
300
The card payment program St Luke’s uses for participating vendors.
What is Payment Plus?
300
The type of IRS form that an employee completes to tell the employer the correct amount of tax to withhold from pay.
What is the Employee’s Withholding Allowance Certificate or W-4?
300
A payment model that offers financial incentives to physicians and hospitals for meeting certain performance measures.
What is Pay for Performance or Value Based Purchasing?
400
This type of asset has donor-imposed restrictions that do not expire, for example a permanent endowment fund.
What is a permanently restricted asset?
400
These modules supply data for the St Luke's cost accounting system (name 3).
What is (are) GL-Meditech, Payroll-Kronos, Surgical Non-billable Supplies-SIS, Patient Clinic Data-eCW, Patient Hospital Data-Meditech?
400
Payment terms of 1/10 Net 30 mean that the buyer can take this if paid within 10 days.
What is a 1% discount?
400
Refers to payroll taxes requiring deduction from paychecks of employees as well as a contribution from employers, to fund the Social Security Program and Medicare.
What is FICA or Federal Insurance Contributions Act?
400
This type of Medicare plan is one offered by a private company and replaces the traditional Medicare benefit plan.
What is a Medicare Advantage Plan?
500
The principal portion of a loan due in the next 12 months.
What is the current portion of long term debt?
500
A type of cost that can be directly traced to a product/service and varies with the level of output, for example pharmacy drugs.
What is variable direct cost?
500
A 1099-MISC form must be supplied when payments to an independent contractor are this amount or more during the year.
What is $600?
500
The deadline to distribute W-2 forms to employees.
What is January 31?
500
In this type of billing model, also known as hospital outpatient billing, billing for clinic patients with eligible plans is split between facility and professional services.