Financial Reporting
What is an Asset?
A resource or thing of value that is owned or controlled by the business.
What are Qualitative Tools?
These tools are used to generate ideas, set priorities, maintain direction, determine causes of a problem, and clarify processes.
What is the Board of Trustees?
This group has ultimate legal authority and responsibility for the operation of the organization, including Quality Management activities.
What is the Facilitator?
This team role supports the team leader, assists with team-building, keeps the meeting discussion and project on track, and ensures deadlines are met.
What is Patient Safety?
Protecting patients from unintended harm is a high priority for healthcare professionals, and it is a key component of quality care.
What is the Balance Sheet?
This financial statement presents a business's position at a single point in time, showing assets, liabilities, and equity.
What is Brainstorming?
This brainstorming technique is used to quickly generate lots of ideas about a problem or topic.
What is Administration/Senior Leaders?
This group is responsible for implementing Quality Management activities throughout the organization and ensuring day-to-day operations meet the organization's needs.
What is the Team Charter?
Created by the sponsor, this written document incorporates the project goal, a description of the system/process to be improved, and the timeframe/deliverables.
What is Failure Mode and Effects Analysis (FMEA)?
FMEA is a proactive risk assessment technique used to improve a process to reduce the likelihood of adverse events.
What is the Income Statement?
This financial statement measures profitability over a period and includes revenues, expenses, and profitability.
What is a Cause and Effect Diagram?
This tool, also known as a fishbone diagram, is used to identify all possible causes of an effect.
What is a Quality Management Plan?
This document describes the organization's structure and process for measuring, assessing, and improving performance.
What is the Storming stage?
In this stage of team development, participation increases, open conflict may increase, and members may question decisions or challenge the leader.
What is Root Cause Analysis (RCA)?
This improvement model is used to find and fix the fundamental system deficiencies that led to a sentinel or adverse event, with the goal of preventing recurrence.
What is the Basic Accounting Equation?
This fundamental accounting equation states that assets must equal liabilities plus equity.
What is a Deployment Flowchart?
This type of flowchart maps detailed process steps and the people involved in each step, also known as a swimlane chart.
What is Level 1: Observable Culture?
This level of organizational culture looks at the way things are done in the organization and represents the observable culture.
What is the Performing stage?
In this stage of team development, members develop a sense of cohesiveness and team identity, and the team begins to function as a highly effective problem-solving group.
What are Prevent, Identify, and Mitigate?
According to reliability science, these are the three essential steps to achieve 99.5% reliability: design the system to prevent failure, design procedures to make failures visible, and design procedures to fix or lessen the seriousness of undetected failures.
What is Cash Flow?
Because of accrual accounting, net income does not represent this, which can be approximated by adding non-cash expenses like depreciation to net income.
What is Force Field Analysis?
This qualitative tool is used to identify and visualize the relationships between significant forces that influence a problem or goal.
What is the Quality Management Infrastructure?
This part of the Quality Management Plan describes major stakeholders and committee structures.
What is the Sponsor?
This team role defines the performance problem, charters the team, monitors progress, and supports the team by clearing barriers.
What are Structure, Process, and Outcome?
Data for measuring the effectiveness of improvement actions can describe the environment care is provided in (Structure), how services are delivered (Process), or the results of healthcare services (Outcome).