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Flashcards in Test 2 Deck (68)
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1

What is considered long term health care?

Care that lasts for more than 90 days

2

Basic activities such as mobility, eating, toileting, dressing and bathing

ADL

3

Activities like managing money, telephoning, grocery shopping, personal shopping, using transportation, and housekeeping and managing medication

Instrumental activities of daily living

4

Authorizes federal grants for construction of public or nonprofit community mental health centers

Community mental health act of 1963

5

Requires group health plans and health insurance issuers to ensure that financial requirements and treatment limitations applicable to mental health or substance use disorder

Parity Act of 2008

6

Hospitals and primary physicians would transform their practices financially, technologically, and clinically to drive better health outcomes, lower costs, and improve their methods of distribution and accessibility.

Affordable care act

7

Ability to cope with a change, a positive outlook on life, ability to interact in close relationships in a loving and supportive manner, and the general feeling of well-being that can be assessed in the individual

Mental Health

8

Provides a product or service to customers for a profit

Business

9

Profit is the primary reason for the business to exist

For-profit

10

Something other than profit is the main objective; profits are invested back into the business, often to help the less fortunate

Non-profit

11

One person owns the business and makes all the decisions, and collects all of the profits

Sole Proprietorship

12

At least two individuals own the business and makes shared decision making, risk, and profits

Partnership

13

Each partner's liability is limited to their contribution

Limited liability partnership

14

Separates ownership and management, shareholders own the business, but delegate management, risks&profits are limited to the shareholder's investment

Corporation

15

Process of planning, organizing, directing, and controlling business's resources to achieve the objectives

Management

16

Exchange process between a business and its customers

Marketing

17

Accounts receivable vs. accounts payable

Accounting

18

Process of physically creating the product or service

Production

19

Use of technology to manage information

Information technology

20

Use of electronic health records, recently laid off employees are eligible for a 9 month federal subsidy that covers 65% of premiums

American Recovery and Reinvestment act (ARRA) of 2009

21

Regulates portability, access, and mandated benefits, fraud, abuse, and reform of medical liability

HIPAA act of 1996

22

Based on supply/ demand, competition is key

Market economy

23

What two things make up profitability?

Revenue maximization and cost minimization

24

Evaluates and accredits health care organizations, focus on improvement of quality and safety of health care services, regulates competition through antitrust laws

Joint Commission

25

Created medicare and medicaid

1965 Social security act

26

Prohibits businesses from taking actions that lessens competition and prohibits mergers, monopolies, and price fixing/discrimination

Antitrust Laws

27

Prohibits restraint of trade and monopolization

Sherman Antitrust Act

28

Restrict practices such as price discrimination, exclusive dealing, and tying contracts

Clayton Act

29

Establishes federal trade commission to investigate business practices that are unfair

Federal trade commission act

30

Prohibits price discrimination, selling at unreasonably low prices to eliminate competition

Robison Patman act