Triage

AAA

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

    The cost advantage that arises with increased output of a product. ...
  2. Business Model

    The plan implemented by a company to generate revenue and make ...
  3. Diseconomies Of Scale

    An economic concept referring to a situation in which economies ...
  4. Scalability

    A characteristic of a system, model or function that describes ...
  5. Business

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

    A slang term that refers to the representation of the basic components ...
Related Articles
  1. Retirement

    Top 7 Estate Planning Mistakes

    Many people try to avoid this process altogether, making things difficult for heirs.
  2. Budgeting

    The Beauty Of Budgeting

    Make it to the end of the month, before you run out of money.
  3. Entrepreneurship

    Getting To Know Business Models

    Learning how to assess business models helps investors identify companies that are the best investments.
  4. 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.
  5. Entrepreneurship

    How Does ClassPass Work and Make Money?

    Find out how ClassPass makes money, how the company aims to help both businesses and consumers, and why it has been so successful.
  6. Retirement

    What Are the Risks to Your Retirement Security?

    One of the biggest risks to your retirement security is something you may take for granted: your health, and more specifically, health-care costs.
  7. Retirement

    Secrets to Finding the Right Nursing Home

    The wrong choice could mean inadequate – or even deadly – care.
  8. Retirement

    How Much Medicaid and Medicare Cost Americans

    Medicaid & Medicare cost Americans plenty out of their paychecks. But how much, really? And what does that money buy?
  9. Budgeting

    The 5 Most Expensive States for Child Care

    To get a better sense of how child care costs can fluctuate, here's a look at the costs of child care across the country.
  10. Budgeting

    How to Defray Long-Term Care Expenses

    Here's a handful of options on what you can do to defray long-term care expenses.
RELATED FAQS
  1. What country spends the most on healthcare?

    The United States currently ranks highest in health care spending. Of the countries spending the most on health care, the ... Read Full Answer >>
  2. How did Johnson and Johnson's corporate responsibility policy pay off in 1982?

    In late September, 1982, Johnson & Johnson recalled all of its Tylenol products after seven people in the Chicago area ... Read Full Answer >>
  3. What are the requirements to be able to contribute to an HSA?

    Health Savings Accounts (HSA) can be used by individuals covered by a high-deductible health plan to save for health care ... Read Full Answer >>
  4. How do I know if I qualify to open a HSA (Health Savings Account)?

    The Health Savings Account (HSA) was established as part of the Medicare Prescription Drug, Improvement, and Modernization ... Read Full Answer >>
  5. When is the best time to purchase long-term care insurance?

    Long-term care insurance (LTCI) covers the risk that individuals may need medical and custodial care, either at home or ... Read Full Answer >>
  6. Will Medicare pay for long-term costs?

    Long-term care refers to a variety of care services (medical and non-medical) that helps meet the needs of people who have ... Read Full Answer >>

You May Also Like

Hot Definitions
  1. Bubble Theory

    A school of thought that believes that the prices of assets can temporarily rise far above their true values and that these ...
  2. Stock Market Crash

    A rapid and often unanticipated drop in stock prices. A stock market crash can be the result of major catastrophic events, ...
  3. Financial Crisis

    A situation in which the value of financial institutions or assets drops rapidly. A financial crisis is often associated ...
  4. Election Period

    The period of time during which an investor who owns an extendable or retractable bond must indicate to the issuer whether ...
  5. Shanghai Stock Exchange

    The largest stock exchange in mainland China, the Shanghai Stock Exchange is a nonprofit organization run by the China Securities ...
  6. Dead Cat Bounce

    A temporary recovery from a prolonged decline or bear market, followed by the continuation of the downtrend. A dead cat bounce ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!