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chapter 13 and 14

TermDefinition
accounting a standard method for reporting the expenses, revenues and accumulation of assets, and other financial results
acuity variations in the healthcare needs of a patient based on their severity of illness
assets real, intangible and financial items that are owned by the health system
balance sheet a financial statement which lists the wealth of the institution at a specific point of time
budget a plan for future expenses and revenue, typically over a 12-month period
capital budget part of the budget typically comprised of items that cost more than a fixed threshold and have a useful life greater than 5 years
capital expense costs of a physical improvement or a piece of equipment that will provide benefit over a number of years. they are typically significant in size and scope
case mix index (CMI) an indicator of the average diagnosis related group (DRG) weight for all patients at an institution
case rate a negotiated payment that is based on a diagnosis-related group, a per diem (daily) amount, or other benchmark method to determine the hospital's payment
chief executive officer (CEO) highest ranking executive in a health system, in charge of the total management and making the major corporate decisions
chief financial officer (CFO) a corporate officer primarily responsible for managing the financial risks of a corporation
diagnosis related group (DRG) a system to classify hospital cases into one of approximately 500 groups, expected to have similar hospital resource use
direct expense expenses that are incurred by the pharmacy to deliver services and products
double entry bookkeeping bookkeeping technique of entering a transaction on both sides of the balance sheet to keep income and expenses balanced
equity (net worth) net of assets and liabilities
expense a payment made by the health system to others for value received
external benchmarking a process of measuring costs, services and practices and comparing them to the organization's peers or to industry leaders
fixed expense a category of direct expense that does not vary significantly in the short-term with the volume of activity
general ledger a detailed record of each financial transaction of the hospital
income statement a statement that lists the revenue, profit, and expense of the institution over a period of time
indirect expense payments for services that support the pharmacy but are not directly paid by the pharmacy
internal benchmarking the process of measuring costs, services and practices against the organization's prior performanct
liabilities the debts the hospital owes to creditors, loans, and bonds issued
operating budget part of the budget that represents a forecast of the daily expenses required to operate the pharmacy
return on investment (ROI) or return on equity (ROE) a mathematical model that measures how effectively funds invested in the firm by its owners or stockholders have been used
revenue money received for products or services provided to customers
time and motion study a review of the activities and resources required to produce a good or service. it is used to determine the resources necessary to complete a task or set of tasks and can be the basis to set goals for improvement or change
variable expense a category of direct expense that varies in the short- term with the level of activity
variance the difference between the budgeted amount and the actual amount spent for a period, typically a month or for the fiscal year to date
volume budget the number of admissions, patient days, CMI, outpatient visits, emergency department visits, and other activities. it is prepared by the CFO and is the basis for budget calculations
work volumes work units and paid hours describe this. it may include rx filled, orders processed, doses dispensed or a combination of these
ante area (anteroom) ISO class 8 or better air quality area where personnel perform hand hygiene, and garbing procedures, staging of components, order entry, compounded sterile preparation (CSP) labeling and other high particulate-generating activities
aseptic technique methods used to manipulate manufacturer-supplied sterile products so that they remain sterile as compounded sterile preparations
biological safety cabinet (BSC) a primary engineering control device that is a ventilated cabinet for CSPs, personnel, product and environmental protection
buffer area (or room) area where the PEC is physically located
clean room (or buffer room) room in which the concentration of air borne particles is controlled to meed a specified airborne particulate cleanliness class
cold storage conditions (refrigerator) 2-8C (36-46F)
components individual ingredients, containers and closures that are used to compound sterile preparations
compounded sterile preparation (CSP) a dose or doses of medication prescribed for a patient that must be prepared for administration and is sterile
compounding aseptic containment isolator (CACI) PEC that provides worker protection from exposure to undesirable levels of airborne drug throughout compounding and material transfer processes and to provide an aseptic environment for compounding sterile preparations
compounding aseptic isolator (CAI) PEC that is a form of isolator for compounding pharmaceutical ingredients or preparations. designed to maintain an aseptic compounding environment throughout compounding and manufacturing transfer process
critical site a location that includes any component or fluid pathway surfaces, openings exposed and at risk of direct contact with air, moisture or touch contamination
direct compounding are (DCA) critical area within ISO class 5 PEC where critical sites are exposed to unidirectional HEPA-filtered air
first air air exiting HEPA filter in a unidirectional air stream that is essentially particle free
garb clothing worn by personnel during compounding of sterile preparations to minimize particulates being shed from body and clothing into the buffer room and PEC
hazardous drugs studies in animals or humans indicate that exposure to them has potential for causing cancer, developmental or reproductive toxicity, or harm to organs
laminar air flow workbench (LAFW) PEC that is a controlled environment created by HEPA to retain airborne particles and microorganisms
media-fill test test which qualifies aseptic technique of compounding personnel or processes and to ensure that the processes used are able to produce sterile product without microbial contamination
primary engineering control (PEC) device or room that provides ISO class 5 environment for exposure of critical sites when compounding CSPs
pyrogens (bacterial endotoxins) metabolic products of living microorganisms, or the dead microorganisms causing a pyretic response upon injection
low risk transfer, measuring and mixing manipulations using nmt 3 commercially manufactured packages of sterile products an nmt 2 entries into any one sterile container or package of sterile product or administration container/device to prepare CSP
medium risk multiple individual or small doses of sterile products are combined to prepare a CSP that will be administered to multiple patients or one patient on multiple occasions
high risk contains nonsterile ingredients...
secondary engineering controls ante are and buffer area
standard operating procedures (SOPs) set of instructions or steps someone follows to complete a job safely with no adverse impact on the environment and optimizes operational and production requirements
USP Chapter 797 pharmaceutical compounding- sterile preparations pharmacy-related general chapter in USP-NF
Created by: purple_amethyst
 

 



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