Triage

Loading the player...

DEFINITION of 'Triage'

A process-management term predominantly seen in hospital and healthcare settings that can also apply to different types of business process or workflow situations. Triage refers to the practice of dividing incoming work or customers into different levels of priority so that the highest-priority issues are handled first, while lower-priority issues are stationed lower on the to-do list.

BREAKING DOWN 'Triage'

In a business setting, the concept of triage can be used to prioritize different types of work for various types of business units. In an IT department, for example, IT issues can be categorized as either emergency problems, medium-priority issues or low-priority issues. Emergency issues would command department members' attention as soon as they arrive, while medium-priority problems would be the first tasks undertaken once there were no emergency problems. Once there were no medium-priority problems, low-priority tasks would be undertaken.

RELATED TERMS
  1. Economies Of Scale

    Economies of scale is the cost advantage that arises with increased ...
  2. Business Model

    The plan implemented by a company to generate revenue and make ...
  3. Business

    1. An organization or enterprising entity engaged in commercial, ...
  4. Back Of The Napkin Business Model

    A slang term that refers to the representation of the basic components ...
  5. Scalability

    A characteristic of a system, model or function that describes ...
  6. Diseconomies Of Scale

    An economic concept referring to a situation in which economies ...
Related Articles
  1. Economics

    What Does Triage Mean?

    The term triage refers to the practice of prioritizing work or customers into different levels so that the most urgent issues are handled first.
  2. Budgeting

    This Is the Year to Start Budgeting

    Whether your issue is credit card debt, student loans (or the fact that Social Security isn't rising next year), it's time to learn how to build a budget.
  3. Retirement

    Top 7 Estate Planning Mistakes

    Many people try to avoid this process altogether, making things difficult for heirs.
  4. Entrepreneurship

    Getting To Know Business Models

    Learning how to assess business models helps investors identify companies that are the best investments.
  5. Options & Futures

    Having A Plan: The Basis Of Success

    It ensures that you have a realistic outlook, and a solid strategy. We show you why and how.
  6. Investing News

    Zika: Study Says This Device Could Protect You

    New research just uncovered an inexpensive, commercially available device that might help fight off the mosquito that carries the dreaded Zika virus.
  7. Personal Finance

    Zika Virus: Latest Advice on Staying Safe

    Zika has hit the U.S. Here’s a quick review of what’s known about the virus, how it spreads, who’s at highest risk and how to avoid it.
  8. Investing

    3 Small Steps to Maximize Your Investing Goals

    Instead of starting the New Year with ambitious resolutions, why not taking smaller manageable steps that can have a real impact.
  9. Investing News

    How Zika Is Infecting the Travel Industry

    The Zika virus is declared a public health emergency as airlines, cruise lines and other travel companies accommodate customers and assess the damage.
  10. Your Practice

    Stressed Out? How Advisors Can Deal with It

    Financial advisors face loads of stress, especially during troubled times. Here's how to deal with the job's stresses and gain a competitive edge.
RELATED FAQS
  1. Can CareCredit be used for family members?

    CareCredit has become a widely used option when it comes to paying for medical procedures, primarily procedures not typically ... Read Full Answer >>
  2. Does dental insurance cover crowns?

    Dental insurance coverage may vary according to the type of plan and the level of benefits that you have elected. Most dental ... Read Full Answer >>
  3. Are Flexible Spending Account (FSA) contributions tax deductible?

    The contributions you make to your Flexible Spending Account (FSA) are not tax-deductible because the accounts are funded ... Read Full Answer >>
  4. Does a Flexible Spending Account (FSA) cover Lasik?

    Flexible spending accounts (FSA) can be used to pay for qualifying LASIK procedures. LASIK is not the only laser eye surgery ... Read Full Answer >>
  5. Are Flexible Spending Account (FSA) expenses tax deductible?

    Flexible Spending Account (FSA) expenses are not tax deductible. The U.S. Internal Revenue Service (IRS) states you cannot ... Read Full Answer >>
  6. Does a Flexible Spending Account (FSA) cover acupuncture?

    A Flexible Spending Account (FSA) covers acupuncture. The Internal Revenue Service (IRS) has defined acupuncture as a qualifying ... Read Full Answer >>
Hot Definitions
  1. Flight To Quality

    The action of investors moving their capital away from riskier investments to the safest possible investment vehicles. This ...
  2. Discouraged Worker

    A person who is eligible for employment and is able to work, but is currently unemployed and has not attempted to find employment ...
  3. Ponzimonium

    After Bernard Madoff's $65 billion Ponzi scheme was revealed, many new (smaller-scale) Ponzi schemers became exposed. Ponzimonium ...
  4. Quarterly Earnings Report

    A quarterly filing made by public companies to report their performance. Included in earnings reports are items such as net ...
  5. Dark Pool Liquidity

    The trading volume created by institutional orders that are unavailable to the public. The bulk of dark pool liquidity is ...
Trading Center