Finances and medical costs.

Finances and medical costs.

Read Chapter on Davis Plus: Finance

1-Mention the types of budgets that you know and give examples of then?

2- What is budgeting?

3- What is directed and indirect cost?

4- Give examples of productive and non-productive hours?

5- What does HMO, PPO, POS means?

A) Mention one example of each of then in your city, or state? (Miami, Florida)

6- What is DRGs.?

7- Give some examples of strategies for Cost-conscious nursing practice that your Nursing unit use to lower medical care cost?

Solution Preview

Question 1

There are various types of budgets that are used in Organizations, hospitals, and government agencies. Ideally, a budget gives the estimates of the revenue and the expenses to incur in a given period of time. Normally, most of the budgets are drafted to give the estimates for a period of one year (Hao, 2015). The year is commonly referred to as the financial year.

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