(ASU online) Health Care Management & Finance Final Exam Guide Q & S 2024
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Course
Nursing
Institution
Arizona State University
(ASU online) Health Care Management & Finance Final Exam Guide Q & S 2024(ASU online) Health Care Management & Finance Final Exam Guide Q & S 2024(ASU online) Health Care Management & Finance Final Exam Guide Q & S 2024
,1. Multiple Choice: What is the primary goal of financial management in
healthcare?
a) Maximizing staff satisfaction
b) Minimizing operational costs
c) Maximizing patient care quality
d) Ensuring regulatory compliance
Answer: c) Maximizing patient care quality
Rationale: While all options are important, the primary goal is to
maximize patient care quality, as it directly impacts patient outcomes
and the overall success of the healthcare facility.
2. True/False: The break-even analysis is useful only for for-profit
healthcare organizations.
Answer: False
Rationale: Break-even analysis is a critical financial tool for both for-
profit and non-profit organizations to understand at what point they
neither make a profit nor incur a loss.
3. Fill-in-the-Blank: The ________ is a financial statement that provides a
snapshot of a healthcare organization's financial position at a specific
point in time.
Answer: Balance Sheet
, Rationale: The balance sheet details an organization's assets, liabilities,
and shareholders' equity, offering insight into its financial standing.
4. Multiple Choice: Which of the following is a key component of Health
Care Quality Improvement?
a) Cost reduction
b) Patient satisfaction
c) Staff training
d) All of the above
Answer: d) All of the above
Rationale: Quality improvement in healthcare encompasses cost
reduction, patient satisfaction, and staff training as integral components
to enhance service delivery.
5. True/False: Capitation payment models incentivize healthcare
providers to focus on the volume of care provided.
Answer: False
Rationale: Capitation payment models incentivize providers to focus on
the quality of care, as they receive a set fee per patient regardless of the
number of services provided.
6. Fill-in-the-Blank: The process of systematically evaluating the care and
services provided to patients to improve outcomes is known as
________.
Answer: Quality Assurance
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