Glossary of Healthcare Terms

   

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Forecasting

Using trend analysis to produce a prediction of future values or performance.

Foregone Compensation Formula

Allows associate physicians to achieve the minimum required buy-in amount for partnerships.

Full-time Employees

Employees who work, on average at least 30 hours of service per week.

Fully Integrated Medical Group (FIMG) Model

The most integrated type of physician organization, it has the greatest contracting and market leverage. Information systems, management, and other administrative functions may be centralized so that the organization can efficiently act as a single entity.

Functional Benchmarking

A derivative form of process benchmarking used to compare two or more organizations (that are not necessarily direct competitors) via comparison of specific business functions.

Functional Indicators

A subset of clinical quality indicators that utilize outcomes as a proxy for patient quality of life or overall population health, for example, patient functional performance following a procedure.

Functional Obsolescence

The loss of utility resulting from the inefficiencies of the asset as compared to a more efficient or less costly replacement asset.

Fundamental (Intrinsic) Value

A representation of an analytical judgment of value based on the perceived characteristics inherent in the investment, not tempered by characteristics peculiar to any one investor, but rather tempered by how these perceived characteristics are interpreted by one analyst versus another.

Fungible Commodity

A good whose units are freely exchangeable and interchangeable.

Gainsharing

An arrangement “under which a hospital gives physicians a share of the reduction in the hospital’s costs (that is, the hospital’s cost savings)
attributable in part to the physician’s efforts.”

Gamma Knife

Employs computerized robotic technology to move patients at submillimeter increments during treatment.

Gene Therapy

Molecular means of cancer treatment.

General Data

General industry research and information relative to the economic; demographic; industry; competition; healthcare industry and medical specialty trends; and, managed care environment surrounding the subject entities, as well as transactional data, investment risk/return information, and market environment reports.

General Partnership

Practices that share the structural simplicity of sole proprietorships; however, multiple partners require more paperwork and result in more complicated liability implications.

General Research

General industry research and information relative to the general economic and demographic trends; competition; general healthcare industry trends; specialty trends; and, managed are environment, specific to the subject property interest.
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