Some Hospitals Use a Variety of Strategies to Delay the Need

question 19

Multiple Choice

Some hospitals use a variety of strategies to delay the need for downsizing.One strategy is to:

• A)Initiate a new service,such as a geriatric service
• B)Increase overtime to increase productivity
• C)Increase the use of temporary help
• D)Increase hiring

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Definitions:

Margin

The difference between the selling price of a product or service and the cost associated with producing it, usually expressed as a percentage of sales.

Marginal Subcontracting Cost

The additional cost incurred for each unit of production outsourced to a third party, rather than produced in-house.

Layoff Cost

The financial impact associated with reducing a company's workforce, including severance pay, unemployment benefits, and potential legal costs.

Hiring And Training Cost

Expenses associated with recruiting new employees and providing them with the necessary training to perform their job.