provision

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provision

A term which, as used in UK medical practice, corresponds to one or more legal conditions/provisos written into a contract or financial arrangement, when a particular type of expense is anticipated but its actual and final cost is uncertain—e.g., clinical negligence liability.

Provisions are included in contracts to comply with the accounting principle of prudence. An estimate of the likely expense is charged to the income and expenditure account—for the Department, to the Operating Cost Statement—as soon as the issue comes to light, even though a cash payout might not occur for many years, if at all. The expense is matched by a balance-sheet provision entry showing the potential liability to the organisation.
References in periodicals archive ?
Minimize disruption to clinical workflow through automated provisioning and self-service password reset integrated with enterprise single sign-on
Other vendors who are shipping automated provisioning software include HP, EMC and Veritas.
Specializing in provisioning facilitates our innovation, and it is this focus that enables us, unlike our competitors, to drive the quickest path to automated provisioning and the most successful customers in the industry," said Chris Zannetos, President and CEO, Courion.
Not only because it's affordable, but the operational efficiencies gained by having a unified view of the customer, the enforcement of well defined workflow processes, and automated provisioning provide an immediate return on investment.
RoleCourier is the only role lifecycle management solution on the market that is directly integrated with an automated provisioning solution to handle role and access provisioning as well as remediation.
For example, virtualization is the foundation for automated provisioning.

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