What Benchmarks Might Be Expected to Be Measured for Hospital

question 1

Multiple Choice

What benchmarks might be expected to be measured for hospital performance? (Select all that apply.)

• A)Average length of hospital stay for cardiac surgery
• B)Total admissions for cardiac surgery
• C)Infection rates for cardiac surgery
• D)Length of surgery
• E)Deaths by surgeon

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Definitions:

VMPL

The Value of Marginal Product of Labor, which represents the additional revenue generated by employing one more unit of labor.

Profit

The financial gain realized when the amount of revenue gained exceeds the expenses, costs, and taxes needed to sustain the operation.

Marginal Productivity

The additional output that can be produced by adding one more unit of a specific input, keeping all other inputs constant.

Perfectly Competitive

A type of market where numerous small firms compete against each other offering products that are virtually interchangeable and where no single company can dictate the market price.