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Doody's Review ServiceReviewer: Brenda B Harton, MSN, RN (University of Phoenix)
Description: A dictionary of more than 10,000 entries, this compendium defines terminology that is relevant to medical economics and includes abbreviations, acronyms, and definitions of the financial and economics language of healthcare.
Purpose: This resource is designed to assist anyone involved in healthcare at any level comprehend both medical economics and financial terminology. Its stated purpose is to provide a common language among any and all entities that are responsible for providing quality patient care with a reasonable profit margin. This common language is needed in the current healthcare environment.
Audience: The book is targeted at physicians, nurses, accountants, and other healthcare and financial professionals, including administrators, graduate students, and insurance representatives. Healthcare consumers of any profession will be able to find and understand definitions that explain the ever-changing and evolving language of medical economics. The editor-in-chief is a physician, financial planner, and health economist with multiple published books, and the managing editor is a registered nurse, healthcare quality consultant, and author and editor of numerous major textbooks. Both bring extensive credentials and credibility to this resource.
Features: A small, easily portable 3-in-1 reference, this book is alphabetically organized by terminology and acronyms/abbreviations, and includes a substantial selection of resources and readings and a list of relevant electronic Internet media. Definitions and descriptions are covered thoroughly enough to explain and clarify but are sufficiently succinct to omit superfluous details. Content is cross-referenced as needed and includes names of movers and shakers in the field of medical economics. It includes visuals as needed, such as charts, graphs, and tables, to increase comprehension and interest. One should consult additional books for more in-depth information related to defined topics, such as health insurance and managed care principles. The authors encourage feedback as terminology continues to evolve and they expect to update the book as needed.
Assessment: Using this resource will assist readers to comprehend the common language of medical economics, either from a healthcare or financial perspective, whether negotiating a contract, assisting with financial planning, or purchasing an insurance product. Healthcare consumers will be able to understand the economic terminology of a constantly changing discipline and be better equipped to invest, earn capital, or assume risk.