Part 441 Definitions

A receivable for money loaned, stores issued, work performed, or services rendered to or for the benefit of another fund.

A payable for money borrowed, stores received, work performed, or services from another fund.

Realized or accrued as revenue through sales of goods, services performed, or the lapse of time.

An emergency outpatient is one who is admitted to the emergency, accident or equivalent service of the hospital for the diagnosis and/or treatment of a condition. The service is one operated pursuant to section 405.1033 of this subchapter.

A physician beyond the first postdoctoral year and a registered nurse anesthetist or anesthesiologist must be available within 15 minutes of being called. Physicians with expertise in anesthesiology, surgery, internal medicine, pediatrics and obstetrics must be available within t…

In addition to the requirements for category 4 facility, a category 3 facility should have 24-hour in-house physician coverage and in-house storage of whole blood or packed red cells.

In addition to meeting the qualifications for category 3 facility, a category 2 facility must also render resuscitation and extended critical care to patients. Also, intensive nursing care and basic intensive medical care, including 24-hour blood gas determinations and inhalation…

Comprehensive emergency medical services provide immediate, complete and advanced care for all patients, including those requiring the most complex and specialized techniques. In addition to meeting the qualifications of a category 2 facility, a category 1 facility should have an…

Derived from experience; sometimes contrasted with rational (i.e., derived from some plan or principle).

The total depreciation incurred by an asset or asset group, based on customary or fairly determined rates or estimates of useful life, now generally referred to as accumulated depreciation.

As distinguished from an independent contractor, a person subject to the will and control of an employer with respect to what the employee does and how he does it, and who is on the payroll of the institution.

A pension provision, retirement allowance, insurance coverage, paid vacation, sick leave, and holiday time off or other cost representing a present or future return to an employee, which is neither deducted on a payroll nor paid for by the employee.

A face-to-face contact between a patient and a provider who has primary responsibility for assessing and treating the condition of the patient at a given contact and exercises independent judgment in the care of the patient.

Funds in which a donor has stipulated, as a condition of his gift, that the principal of the fund is to be maintained inviolate and in perpetuity, and that only income from investments of the fund be expended (see also term endowment funds).

(a) Any right or claim to assets. (b) An interest in property or in a business, subject to claims of creditors. (c) The difference between assets and liabilities. (d) Net worth.

(a) The interest of an owner in property or in a business or other organization, subject, in case of liquidation, to prior claim of creditors. (b) The interest (paid-in capital and retained earnings) of a stockholder or of stockholders collectively in a corporation; proprietorshi…

Deviation, inaccuracy or incompleteness in the measurement or representation of fact.

Expected operating or service life of an asset or asset group in terms of utility to the institution.

(a) The incurring of a liability, the payment of cash, or the transfer of property for the purpose of acquiring an asset or service or settling a loss. (b) The amount of cash or property paid or to be paid for a service rendered, or an asset purchased. (c) Any cost, the benefits …

Expired cost; any item or class of cost of (or loss from) carrying on an activity; a present or past experience defraying a present operating cost or representing an irrecoverable cost or loss.

See accrued liability.

See cost center.

An expenditure from which no further benefit is anticipated; an expense; a cost absorbed over the period during which benefits were enjoyed or a loss incurred.

A material expense (see materiality) so unusual in nature or in frequency of occurrence as to be accorded special treatment in the accounts or separate disclosure in financial statements.

A coordinated group of fixed assets—land, buildings, machinery and equipment—constituting a plant.

(a) Value determined by bona fide bargaining between well-informed buyers and sellers, usually over a period of time. (b) An estimate of market value, in the absence of sales or quotations.

Financial Accounting Standards Board.

A graduate of a medical/osteopathic/dental school who has had an advanced period of graduate training and is in a fellowship program in a subspecialty or in a clinical research program.

Insurance against losses arising from dishonest acts of employees involving money, merchandise or other property.

Any person responsible for the custody or administration, or both, of property belonging to another; as, a trustee.

A quasi-independent organization established in 1973 by the AICPA-sponsored Financial Accounting Foundation for the purpose of developing principles for financial reporting by business enterprises.

An amount of interest, wages, or other expense recognized or incurred on and before a given date but not paid; sometimes referred to as accrued expense.

A balance sheet, income statement, funds statement, statement of changes in financial position, or any supporting statement or other presentation of financial data derived from accounting records.

A patient lacking the financial ability to reasonably be expected to pay for medical services received.

(a) Assets of a relatively permanent nature held for continuous use in hospital operations and not intended to be converted into cash through sales. (b) A balance sheet classification denoting capital assets other than intangibles and investments in affiliated companies or other …

The investment in capital assets.

An operating expense, or operating expense as a class, that does not vary with business volume. Examples: interest on bonds; rent; property tax; depreciation (sometimes in part); minimal amounts of general overhead. Fixed costs are not fixed in the sense that they do not fluctuat…

See employee benefit.

An objective measurement of the personnel employment of an institution in terms of full-time labor capability. To calculate the number of full-time equivalent employees, sum all hours for which employees were paid (whether worked or not) during the year and divide by 2080.

A collection of activities having related purposes.

Reporting of the revenues and expenses according to type of activity performed.

A self-contained accounting entity set up to account for a specific activity or project.

Revenue earned, but neither received nor past due.

Maintenance of separate and/or group accounts for health facility resources according to spending objectives set by donors, other outside sources or the governing body.

An asset belonging to a particular fund or a group of funds.

The excess of assets over liabilities (net equity). An excess of liabilities over assets is known as a deficit in fund balance.

A balance sheet divided into self-balancing sections, each of which shows the assets and liabilities of a single fund or group of related funds.