Complete the worksheet below according to the following guidelines:
• In the space provided, write each term's definition as used in health care management. You must define the term in your own words.
• In the space provided after each term's definition, summarize a health care management scenario that illustrates the importance of the skill, concept, procedure, or tool to which the term refers. In the scenario, you may wish to consider the following:
o Why the skill, concept, procedure, or tool is necessary for accurate record keeping, operational efficiency, excellent patient services, employee management, regulatory compliance, reducing costs, forecasting, and so forth
o Successes enabled by an adequate understanding or appropriate application of the skill, concept, procedure, or tool
o Risks or failures associated with an inadequate understanding or inappropriate application of the skill, concept, procedure, or tool.
Worksheet
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Term
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Definition
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Scenario
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Balance sheet
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Statement of revenue and expense
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Revenue cycle
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Payer mix
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Revenue
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