A Team of Experienced Nurses Work Together to Develop Algorithms

question 13

Multiple Choice

A team of experienced nurses work together to develop algorithms that are converted into checklists to ensure standardization of commonly performed procedures.The focus of this team is primarily on which Institute of Medicine (IOM) competency?

• A) Safety
• B) Timely
• C) Equitable
• D) Patient-centered care

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Definitions:

High-Low Method

A technique in managerial accounting used to estimate fixed and variable costs by analyzing the highest and lowest levels of activity and the associated costs.

Variable Cost

Expenses that change in proportion to the activity of a business such as raw materials and direct labor costs.

Fixed Cost

Payments that do not vary with the amount of production or sales activities, including costs like renting spaces, salary payouts, and insurance contributions.

Operating Leverage

Operating leverage describes the extent to which a company can increase its profits by increasing sales, highlighting the ratio of fixed costs to variable costs.