Definition of "setting" from Ask.com
1. The position, direction, or way in which something, such as an automatic control, is set.
2.
1. The context and environment in which a situation is set; the background.
2. The time, place, and circumstances in which a narrative, drama, or film takes place.
3. Music. A composition written or arranged to fit a text, such as a poetical work.
4. A mounting, as for a jewel.
5. A place setting.
6. A set of eggs in a hen's nest.

In this context, definition 2.2 applies except that the "drama" is the medical encounter. In other words, several procedures are performed on the patient either simultaneously or sequentially but at the same visit/encounter.

Discussions about doing several procedures at the same "setting" are usually in the context of billing. Very often fee schedules will discount the 2nd, 3rd, etc procedure if it is performed at the same setting. Thus, in my personal case, I am obliged to have patients return for separate visits on separate days if they have more than one problem, since the fee schedule does not adequately reimburse me for the time spent for several problems at the same setting.