Exam (elaborations)
Chapter 1: Introduction to Healthcare Finance questions well answered
- Course
- Institution
Chapter 1: Introduction to Healthcare Finance questions well answered
[Show more]
Content preview
Chapter 1: Introduction to HealthcareFinance
healthcare financing - correct answer ✔✔the system that a society uses to pay for healthcare services
health services organizations - correct answer ✔✔those that provide patient care services. Examples
include hospitals, medical practices, clinics, and nursing homes. Also called providers.
accounting - correct answer ✔✔the measurement and recording of events that reflect the operations,
assets, and financing of an organization
financial management - correct answer ✔✔the use of theory, principles, and concepts developed to help
managers make better financial decisions
chief financial officer (CFO) - correct answer ✔✔The senior manager (or top finance dog) in a large
organization's finance department. Also called vice president-finance.
comptroller - correct answer ✔✔the finance department manager who handles accounting, budgeting,
and reporting activities
treasurer - correct answer ✔✔the finance department manager who handles capital acquisition,
investment management, and risk management activities.
business (practice) manager - correct answer ✔✔the manager responsible for the finance function in a
small healthcare organization, such as a medical practice with one or a few clinicians
horizontal system - correct answer ✔✔a single business entity that owns a group of similar providers,
such as hospitals
, vertical system - correct answer ✔✔a single business entity that owns a group of related, but not
identical, providers, such as hospitals, medical practices, and nursing homes
the joint commission - correct answer ✔✔the accreditation body for hospitals and other health services
organizations
general acute care hospital - correct answer ✔✔a hospital that treats all conditions that require a
relatively short hospitalization (e.g., less than 30 days)
specialty hospital - correct answer ✔✔a hospital that treats patients with a common characteristic or
condition, such as a children's or cancer hospital
government hospital - correct answer ✔✔a hospital that is owned by a gov't entity. Federal hospitals are
owned by the federal government, while public hospitals are owned (or funded) by state or local
governments
private not-for-profit hospital - correct answer ✔✔a hospital that is not governmental but is operated for
the exclusive benefit of the community
investor-owned hospital - correct answer ✔✔a hospital that is owned by investors who benefit
financially from its operation. Also called a for-profit hospital.
ambulatory (outpatient) care - correct answer ✔✔care that is provided to patients who are not
institutionalized. Typical settings include physicians' offices, outpatient surgery centers, and walk-in
clinics
Long-term care - correct answer ✔✔care that is provided in either an institutional or outpatient setting
that covers an extended period of time
patient capture - correct answer ✔✔the concept that once a patient enters the system at one point (e.g.,
a doctor's office), all services needed by that patient will be provided within the system
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller BravelRadon. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75619 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now