Glossary of Healthcare Terms

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Laboratories

Facilities that provide an isolated setting in which samples of tissues, fluids, and other bodily substances can be tested and/or stored; may be located within an inpatient or outpatient facility, or may operate as a freestanding facility.

Land Improvements

Relatively permanent structures built on, or physical changes made to, a property to increase its utility and value.

Laparoscopy

Minimally invasive surgery that involves the insertion of a slender, tubular endoscope through the abdomen wall. A laparoscopy involves the use of surgical instruments that the practitioner controls and fiber optic technology for visual navigation.

Large Employers

500 or more employees.

Legal Medicine

Referred to as medical jurisprudence, involves the implementation of medical expertise for legal and judicial purposes.

Length of Stay (LOS)

The number of consecutive days a patient is hospitalized.

Leverage Ratio

A ratio of long-term debt to net fixed assets, which is used to illustrate the proportion of funds, or capital, provided by shareholders (owners) and creditors to aid analysts in assessing the appropriateness of an organization

Leverage Ratios

Ratios used to illustrate the proportion of funds, or capital, provided by shareholders (owners) and creditors to aid analysts in assessing the appropriateness of an organization

Licensure

Licensure is a governmental body's process of issuing a license, or a Federal or state charter granting its holder the right to practice a profession, such as medicine, podiatry, dentistry, law, etc.

Limited Liability Corporations

Corporations that offer the liability protection of a corporation but the taxation simplicity of a sole proprietorship or general partnership.

Limited Liability Partnerships

The only unin¬corporated businesses that offer protection from personal liability for the actions of other partners or physicians; each partner's personal assets and investments are protected.

Linear Accelerator (LINAC)

Delivers uniform doses of high-energy x-rays to the localized area of the patient

Liquidation Value

The present value of the net proceeds from liquidating the company

Liquidity

The ability to quickly convert property to cash or pay a liability.

Liquidity Ratio

A metric that measures the ability of an organization to meet cash obligations as they become due, that is, to support operational goals.

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