Glossary of Healthcare Terms

   

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Unincorporated Practices

Practices that the liability protection afforded to corporations (incorporated practices) in exchange for easier setup at a lower cost.

United States Medical Licensing Examination

"[A]ssesses a physician's ability to apply knowledge, concepts, and principles, and to demonstrate fundamental patient-centered skills, that are important in health and disease and that constitute the basis of safe and effective patient care."

Upcoding

The practice of improperly assigning a diagnosis code to a patient discharge that is not supported by the medical record for the purpose of obtaining a higher level of reimbursement from Medicare for that hospital discharge than the hospital would otherwise receive.

Urgent Care

Healthcare that is delivered on a walk-in basis with no appointment for acute illness.

Utility

An abstract concept that encompasses not only the satisfaction that an individual enjoys from the ownership or use of a good, but also, the satisfaction received from a reduction in pain or discomfort.

Valuation

"The act or process of determining the value of a business, business ownership interest, security, or tangible asset."

Valuation Date

The date specified for when an indication of value will be reported. The valuation date limits the information available to the analyst to those which would have been available prior to the valuation date.

Value

"The present worth of all the rights to future benefits arising from ownership of the thing valued" (i.e. the expectation of future benefit).

Value in Exchange

An orderly disposition of a mass assemblage of the assets in place but not as a going concern enterprise; also known as "liquidation value."

Value in Use

The premise of value which assumes that the assets will continue to be used as part of an ongoing business enterprise, producing an economic benefit of ownership of a going concern.

Venture Capital

A subset of private equity financing that focuses on smaller emerging companies.

Vertical Integration

"The aggregation of dissimilar but related business units, companies, or organizations under a single ownership or management in order to provide a full range of related products and services."

Vision

A company's vision should answer the long-term question: "why are we in business?"

Walk-In Clinics

Centers which provide treatment of non-acute illnesses and conditions after hours and on weekends.

Weighted Average Cost of Capital

The cost of capital (discount rate) determined by the weighted average, at market value, of the cost of all financing sources in the business enterprise
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