An information system, usually electronic, designed to collect, store and transmit data to aid management in planning and directing the operations of an organization. Market Basket Index A weighted average of individual price and wage indices, each of which measure the price movement of a particular cost item or group of items. A person holding a master s degree in nursing. A person holding a master s degree in social work. Medicaid State and federally funded program that pays for medical services to low-income residents who meet certain requirements.
Federal funding varies annually, based on a formula related to each state s per capita income.
A savings plan whereby pre-tax dollars can be used for health care expenses, providing an incentive for reduced use of health care services. Medically Necessary A term used to describe the supplies and services provided to diagnose and treat a medical condition in accordance with the standards of good medical practice and the medical community. An example of a service that is not medically necessary is that part of a stay in a facility determined by a case manager to be excessive. It may be considered excessive because the stay was too long or appropriate care is available in a less costly or more efficient setting. Medicare A federally funded program that pays for medical services to residents over age 65 and the permanently disabled.