Question

1. How is a full-time equivalent calculated?

A full-time equivalent is calculated by the ratio of labor inputs peer until of total output for the hospital.

2. What is the difference between productive and nonproductive hours?

Productive hours are those that can be controlled by management and are used to directly provide patient care while nonproductive hours are those include vacation, sick time, holiday pay, and other hours paid to employees while the employees were not engaged in their normal work.

3. Why should hospitals benchmark?

4. How can return on investment models help the decision-making process?

Answer 1

Answer

3) Why should hospitals benchmark?

✓ hospital apply benchmarking because it helps to ensure quality, patient safety, and keep the operations effective. Benchmarking support cost control, process control and efficient management by applying best practices and standards followed by top healthcare units so that high performance and high service can be provided.

4) How can return on investment models help the decision-making process?

✓ return in investment models helps to know the return on a invested amount in a particular business field, it helps to take decision whether to increase or continue the investment or to change the Avenue for better profits. An individual take make important investment decisions with the help of ROI models. It helps to regulate losses by making the individual understand the rate of return and to help him divest from unfruitful sources or businesses and to use the fund into other ventures or avenues for successful increase in money.