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. Issue

    1. The process of offering securities as an attempt to raise ...
  2. Seasoned Issue

    An issue of additional securities from an established company ...
  3. Issued Shares

    The number of authorized shares that is sold to and held by the ...
  4. Debt Issue

    A fixed corporate or government obligation, such as a bond or ...
  5. Negotiated Sale

    A method of offering municipal bonds or similar financial instruments ...
  6. Hot Issue

    An issue that sells at a premium over the public offering price ...
Related Articles
  1. Investing

    What are Issued Shares?

    Issued shares are the amount of authorized stocks a company’s shareholders buy and own. The annual report shows the number of outstanding shares.
  2. Investing

    Basics Of Federal Bond Issues

    Treasuries are considered the safest investments, but they should still be analyzed when issued.
  3. Financial Advisor

    Tips for Closing in on Retirement

    Here’s a financial planning to-do list for anyone within 10 years of retirement:
  4. Investing

    An Introduction To Emerging Market Bonds

    The rewards associated with this fixed-income asset are significant, but so are the risks.
  5. Personal Finance

    Building An Emergency Fund

    An emergency fund can mean the difference between tough times and a total financial disaster. Find out how an emergency fund works and why you need one now.
  6. Small Business

    5 Key Steps to Start Your Own Small Business

    Understand what a small business is and what it takes to build one. Learn about the five key steps needed to start a small business.
  7. Small Business

    Uncovering The Securities Firm

    Learn about the various departments of a securities firm and the professionals who make it work.
  8. Managing Wealth

    3 Simple Lifestyle Changes to Make You More Productive

    If you are looking to become more productive it's important to find out what works best for you. Here are three ideas to try.
  9. Investing

    Why Companies Issue Bonds

    One way for a company to raise money is to issue bonds.
  10. Investing

    Hospital Frustration With Valeant Grows

    The beleaguered pharmaceutical company promised discounted drugs to hospitals and has failed to deliver.
RELATED FAQS
  1. Why is investing in oil and gas in emerging markets riskier than investing in developed ...

    Discover some of the potential problems associated with oil and gas investments in emerging market countries that tend to ... Read Answer >>
  2. How do debt issues affect governments' abilities to run fiscal deficits?

    Read about whether or not debt issues affect the federal government's ability to run fiscal deficits, and find out what those ... Read Answer >>
  3. When should a company consider issuing a corporate bond vs. issuing stock?

    Understand when a company should consider issuing a corporate bond versus issuing stock, and learn about the underlying principle ... Read Answer >>
Hot Definitions
  1. North American Free Trade Agreement - NAFTA

    A regulation implemented on Jan. 1, 1994, that eventually eliminated tariffs to encourage economic activity between the United ...
  2. Agency Theory

    A supposition that explains the relationship between principals and agents in business. Agency theory is concerned with resolving ...
  3. Treasury Bill - T-Bill

    A short-term debt obligation backed by the U.S. government with a maturity of less than one year. T-bills are sold in denominations ...
  4. Index

    A statistical measure of change in an economy or a securities market. In the case of financial markets, an index is a hypothetical ...
  5. Return on Market Value of Equity - ROME

    Return on market value of equity (ROME) is a comparative measure typically used by analysts to identify companies that generate ...
  6. Majority Shareholder

    A person or entity that owns more than 50% of a company's outstanding shares. The majority shareholder is often the founder ...
Trading Center