Which of the following is part of a statistics budget?
Which of the following is part of a statistics budget?
2. Question: (TCO 4) The following is an example of a _____________ budget: “The budget for the radiology department is different at 90 percent occupancy than at 80 percent occupancy.”
3. Question: (TCO 4) Effectiveness is a relationship between:
4. Question: (TCO 3) What is the main reason that relative value units (RVUs) often are used in health care?
5. Question: (TCO 3) Your controller has told you that the marginal profit of DRG 209 (major joint procedure) for a Medicare patient exceeds the marginal profit for an average charge patient. Why might this occur?
6. Question: (TCO 2) The heading of every financial statement should contain the:
7. Question: (TCO 2) Which of the following is the BEST example of a financial metric?
Page 2
1. Question: (TCO 4) Formulate your answer based on the below information. Costs per case increased to $4,900 from a budgeted value of $4,750. This increased actual total costs by what amount?………….You have been asked by management to explain the variances in costs under your inpatient capitated contract. The following data is provided. Use the following data to calculate the variances. Budget Actual
2. Question: (TCO 4) Based on the information below, assume that the only change in the original example data is that Blue Cross raises their discount to 20 percent. What price should be set? You have been asked to establish a pricing structure for radiology on a per-procedure basis. Present budgetary data is presented below:……………It is estimated that Medicare patients comprise 40 percent of total radiology volume and will pay on average $38.00 per procedure. Approximately 10 percent of the patients are cost payers. The remaining charge payers are summarized below:
3. Question: (TCO 4) What is the amount of variance that can be attributed to the difference between budgeted and actual volume? Use the following data to calculate the variances. The following information has been prepared for a home health agency.
4. Question: (TCO 2) Explain the difference between the accrual basis of accounting and the cash basis of accounting?
5. Question: (TCO 2) What is an audit (in the context of financial accounting)?
6. Question: (TCO 1) What are social responsibility and ethics as they relate to business-oriented organizations? How should social responsibility and ethics affect the decisions of even for-profit companies?
7. Question: (TCO 2) Define and describe the purpose of fund accounting (now called net assets).
HSM 340 Final Exam
1. (TCO 4) When would it make sense to use a flexible budget as compared to a forecast budget?
2. (TCO 7) Explain the difference between a horizontal merger and a vertical merger.
3. (TCO 1) Describe the Outpatient Code Editor.
4. (TCO 1) What is the primary provision of the EMTALA.
5. (TCO 3) Use the following data to calculate the variances in problem. data Your hospital has been approached by a major HMO to perform all their MS-DRG 470 cases (major joint procedures). They have offered a flat price of $10,000 per case. You have reviewed your charges for MS-DRG 470 during the last year and found the following profile: The HMO in the above example has indicated that their doctors use less expensive joint implants. If this less expensive implant is used, your medical supply charges would be reduced by $2,000. What is the estimated reduction in variable cost?
6. (TCO 2) Explain the difference between the accrual basis of accounting and the cash basis of accounting.?
7. (TCO 2) What are the double-entry accounting system and the duality concept? How are they related?
8. (TCO 5) Define an annuity.
9. (TCO 5) What avenues are available for for-profit healthcare providers to increase their equity position?
10.(TCO 6) Describe the two major components of a working capital management strategy?
11. (TCO 6) What is the general rule of thumb about when to borrow long-term or short-term?
12. (TCO 5) How should the interest rate and n periods of compounding be modified if compounding for less than one year?
Answer
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