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MHSO Quiz 3
MHSO Quiz 3
42
Business
Graduate
10/16/2011

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Cards

Term
Expenditure
Definition
any outlay of cash for any reason
Term
What is financial management?
Definition
the art of maximizing wealth or value
Term
Success requires (5 items)
Definition
Overcoming the mystique
Thinking strategically
Reorienting the perspective
Speaking the language
Technical skills
Term
3 Parts of the financial management paradigm
Definition
Performance planning
Performance measurement
Performance management
Term
Budget: definition
Definition
a detailed plan showing how resources will be acquired and used over a specific period. A plan for the future in formal, measurable terms.
Term
Three types of budgets
Definition
Operating budget
Capital budget
Cash budget
Term
Important planning documents (several)
Definition
Budget guidelines
Mission statement
Strategic plan
Market analysis
SWOT analysis
Goals and objectives
Other budgets
Term
Why report performance? (5 reasons)
Definition
Measure performance
Increase awareness
Ensure sound, prudent management
Involve the management team
Achieve your goals
Term
Good reports are... (4 things)
Definition
Timely
Frequent
Understandable
Comprehensive
Term
What are performance dashboards?
Definition
Simple, multi-dimensional systems to monitor critical indicators of overall performance
Term
What is variance analysis?
Definition
Determine the underlying cause of deviation from a plan
Term
What is expense forecasting?
Definition
Prediction of the future based on history or present circumstances
Term
Bilateral performance mapping
Definition
Determine objectively where to look for improvements
Term
3 types of decision support analysis
Definition
Marginal analysis
Benefit:Cost Ratio Analysis
Breakeven Analysis
Term
Internal equity
Definition
pay must be fair as compared with those next to you - don't let pay be a dissatisfier
Term
Herzberg's Motivational Factors (Satisfiers)
Definition
Achievement
Recognition
Work itself
advancement
Growth
Term
Herzberg's Maintenance factors (Dissatisfiers)
Definition
Security
Salary
Work conditions
Supervision
Company policy
Term
Push and Pull Factors of Brain Drain
Definition
Pay
Working Environments
Career growth and development
Violence and discrimination
Term
Brain Drain: definition
Definition
Migration of skilled labor
Term
Needs Assessment Steps
Definition
-Value Analysis Process (safety, disposal, usage, item type)
Term
Non-stock purchase
Definition
only have to buy it once or twice a year
Term
Stock purchase
Definition
bought regularly
Term
Low unit of measurement
Definition
Supplies stocked in warehouse and delivered immediately upon need
Term
4 Principles of CQI
Definition
Develop a strong customer focus
Continually improve all processes
Involve employees
Mobilize both data and team knowledge to improve decision making
Term
3 Key questions of CQI
Definition
What are we trying to accomplish?
How will we know that a change is an improvement?
What changes can we make that will result in an improvement?
Term
7 Basic Quality Tools
Definition
Check sheet
Fishbone diagram
Run chart
Pareto chart
Histogram
Flow chart
Scatter diagram
Term
7 steps of the QI model
Definition
Step 1 Select a Problem/Process (Plan)
Step 2 Define Current Process
Step 3 Find Root Causes
Step 4 Develop Action Plans
Step 5 Try It (Do)
Step 6 Review Results (Check)
Step 7 Make Changes/Hold Gains (Act)
Term
Some CQI Methodologies
Definition
Six Sigma
Rapid cycle process improvement
Ante mortem review
Failure inducement
Root cause analysis
Failure mode analysis
Term
Barriers to QI
Definition
Confusing departments and processes
Jumping to causes or solutions
Subjective presentations
Instant experts
Insufficient data
Term
Pitfalls to avoid in measurement
Definition
Pursuing one indicator at the expense of others
Term
Balance scorecard: definition
Definition
“A multi-dimensional framework for describing, implementing and managing strategy at all levels of an
enterprise by linking objectives, initiatives, and measures to
an organization’s strategy.”
Term
Three dimensions to measure
Definition
Industry
Hospital
Health System
Term
Key Dimensions
Definition
Population Health
Stakeholder Perspectives
Supply Factors
Demand Factors
Efficiency
Term
How do you benchmark?
Definition
Comparison with similar organizations
Historical performance
Performance targets
Term
Balanced Score Card Domains
Definition
Patient & Community
Provider Perspective and Communication
Capacity for Service Provision
Service Provision
Financial System
Overall Vision
Term
5 Principles of a Balance Score Card
Definition
Translating strategy into operational terms
Align the organizational strategy
Make strategy everyone's everyday job
Make strategy a continual process
Mobilize leadership for change
Term
3 functions of a balanced score card
Definition
measurement
strategic management
communication
Term
Successful scorecards
Definition
Timeliness vs. absolute accuracy
Based on rapidly available data
Focus on significant drivers of organizations' total performance
Term
Logical framework: definition
Definition
A program planning and evaluation tool to link actions and results
Term
Disadvantage of Logical framework
Definition
Limits creativity and innovation
Requires updating to reflect changes - static tool
Requires training and follow-up
Term
Advantages to a logical framework
Definition
Statement of project components in one place
Systematic 'logic'
Identifies main factors related to success
M&E tool with indicators
Multidisciplinary approach
Term
Logical framework
Definition
Inputs+Assumptions=Outputs
Outputs+Assumptions=Outcomes
Outcomes+Assumptions=Goals
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