Administrators of Health Care Organizations Use Internal and External Data

question 6

True/False

Administrators of health care organizations use internal and external data for benchmarking.

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Definitions:

Administrative Expenses

Costs related to the general operation of a business that are not directly tied to the production of goods or services, such as office supplies, salaries of administrative staff, and utilities.

Planning Budget

A budget prepared for a particular level of activity; it can be adjusted for various levels of operations, and it aids in the planning process.

Tenant-Days

A metric used in real estate to measure occupancy, calculated by multiplying the number of tenants by the number of days they occupy a space.

Revenue And Spending Variance

The difference between actual and budgeted or forecasted revenue and expenses over a specific period.