(C811) HIM 3701 Healthcare Financial Resource Management - OA Readiness Exam Q & S 2024(C811) HIM 3701 Healthcare Financial Resource Management - OA Readiness Exam Q & S 2024(C811) HIM 3701 Healthcare Financial Resource Management - OA Readiness Exam Q & S 2024
,1. Multiple Choice: What is the primary goal of healthcare
financial management?
a) Increasing staff satisfaction
b) Improving patient outcomes
c) Maximizing shareholder wealth
d) Ensuring financial viability
Answer: d) Ensuring financial viability
Rationale: The primary goal of healthcare financial
management is to ensure that the organization can sustain
its operations and services in the long term, which is
essential for delivering continuous patient care.
2. Fill-in-the-Blank: The ________ model is a method used
to predict the financial health of a healthcare organization.
Answer: Altman Z-score
Rationale: The Altman Z-score is a widely used predictive
model that helps determine the likelihood of a business
experiencing financial distress.
3. True/False: Capitation payments are fixed, pre-arranged
monthly payments received by a physician, clinic, or
hospital per patient enrolled in a health plan.
Answer: True
Rationale: Capitation payments are indeed pre-set
amounts paid to healthcare providers for each enrolled
patient, regardless of the number of services provided.
, a) Charge capture
b) Claims processing
c) Patient scheduling
d) Payment posting
e) Medical coding
Answers: a) Charge capture, b) Claims processing, d)
Payment posting, e) Medical coding
Rationale: These components are integral parts of the
revenue cycle, ensuring that services are billed and
payments are collected efficiently.
5. Multiple Choice: In healthcare financial management,
what does the term 'payer mix' refer to?
a) The ratio of nurses to patients
b) The diversity of payment methods accepted
c) The distribution of a provider's revenue sources
d) The variety of health services offered
Answer: c) The distribution of a provider's revenue
sources
Rationale: Payer mix refers to the percentage of revenue
coming from different types of payers, such as private
insurance, Medicare, Medicaid, or self-pay patients.
6. Fill-in-the-Blank: The process of reviewing and appealing
denied claims is known as ________ management.
Answer: Denial
Rationale: Denial management involves identifying,
researching, and appealing unpaid claims to ensure
maximum reimbursement for services rendered.
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