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43 terms

Law and Ethics- Chapter 6

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Diagnostic related groups (DRGS)
related medical groups contributing their diagnosis of the nature of a patients disease on which standardizing fees are based
Prospective payment system
likely to come about looking toward to the future
Sole Proprietorship
ownership of a business by one person
Corporation
a means by which a group of people can unite to create an entity to do something impossible for the individual members .the organization is established by filing a certification of corporation in the state where its main place of business is located
Conglomerate
a corporation diversifying operations by acquiring varied enterprises
Limited liability corporation
business structure with corporation and partnership qualities which provides protection from personal liabilities like a corporation and the tax advantages of a partnership
Limited liability partnership
a form of general partnership that provides protection from liability for an individual partner for certain partnership obligations
Capital
the assets in money or property accumulated by individual partnership, or corporate , ownership of a business, net worth
Assets
Personal belongings and property owned by a person or if the person he or she has died by his or her estate
Notice
an announcement, written or displayed, giving pertinent information to those interested in a certain person place or event or in any legal agreement such as a partnership
Debts
money, services, or goods owned to some person or persons to whom one is obligated
Creditors
those to whom money or its equivilent is owed
Shares
units of stock giving the possession part ownership in a corporation
Officers
persons holding formal positions of trust in an organization especially those involved in high levels of management
Directors
those elected and terminated by stock holders to management responsibility in a corporation
Stockholders
those who hod an interest (stock) in a corporation
Investment
Expenditure of capital to secure income or profit
Management
Direction or administration of affairs of a person , business, or organization
Bylaws
regulations adopted by a corporation or association
Profits
the gains accrued from business or investments after the payment of expenses
Dividends
distributed profits of a corporation
Subscriber
one who agrees to buy or belong for a period of time
Capitation
payment in a lump sum to physicians , HMO's and health care facilities to deliver health care to a segment of the population
Fee-For-Service
basis of professional billing , either , so much per hour or per identified procedure
Comprehensive
covering completely or broadly; inclusive
Joint venture
a group of persons together performing some business undertaking
Negotiated fee schedules
the process of the submission and consideration of offers until an offer is accepted fee schedule refers to the amount an insurance company or other third party payer will reimburse for a medical procedure
Per capita payment
pay equally according to the number of individuals
Interstate commerce
the movement of goods and services, or services that rely on the movement of goods, which cross state boarders within the united states
Interstate
between two or more states
Disparate treatment
a marked difference between two things
Disparate impact
the force of impression of one thing on another
Inference
a process of reasoning by which a fact is deduced as a logical consequence of other facts
Comparable
the representation of one thing or person similar to another
Retirement benefits
benefits paid to an employee for a prior term of service after he or she discontinues work for that employer
Collective bargaining
procedural attempt to achieve collective agreements between an employer and accredited representative of a group of employees to improve the conditions of employment
Bargaining unit
the labor union or group of employees with similar interests authorized to conduct negotiations on behalf of the employees who are members of the union or group
Good faith
honesty of intention
Risk management
minimizing the danger or hazard
Quality assurance
responsibility to uphold the quality of care of patients in treatment situations
Levy
to raise or execute a tax
tendered
an offer of money from one person to another
Venue
the particular county or geographic area where a court may try a case