WK Three Health Care Financial Terms

•	In the space provided, write each term- definition as used in health care management. You must define the term in your own words.
•	In the space provided after each term- 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 is the skill, concept, procedure, or tool necessary for accurate record keeping, operational efficiency, excellent patient services, employee management, regulatory compliance, reducing costs, forecasting, and so forth?
o	What successes are enabled by an adequate understanding or appropriate application of the skill, concept, procedure, or tool?
o	What risks or failures are associated with an inadequate understanding or inappropriate application of the skill, concept, procedure, or tool?
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