Exam (elaborations)
Healthcare finance exam 2 questions with verified answers
- Course
- Institution
Healthcare finance exam 2 questions with verified answers
[Show more]
Content preview
Healthcare finance exam 2purpose of healthcare financial management - correct answer ✔✔to provide accounting and finance
information that helps healthcare managers accomplish organization.
most important objective of healthcare financial management - correct answer ✔✔generate income
other objectives of healthcare financial management - correct answer ✔✔respond to regulations
facilitate relationships with 3 rd party payers
influence method and amount of payment
monitor physicians
protect tax status
management functions - correct answer ✔✔all the organizational purposes by planning, organizing,
staffing, directing and controlling
management connective processes - correct answer ✔✔by communicating, coordinating, and decision
making
purpose of financial accounting - correct answer ✔✔to provide accounting information.
managerial accounting - correct answer ✔✔provide accounting information, generally current or
prospective in nature, to internal users, including managers.
cost accounting - correct answer ✔✔the study of costs including methods for classifying, allocating,
identifying costs
direct measures of quality - correct answer ✔✔goal based measures
responsive measures
, decision-making measures
connoisseurship measures
indirect measures of quality - correct answer ✔✔resource measures
outcome measures
repetitional measures
vale-added measures
most common third party payer - correct answer ✔✔insurance and government (through medicare and
medicaid)
what are third party payers - correct answer ✔✔agents of patients who contact with providers to pay all
or a part of the bill to the patient.
third party payers represent how much of total healthcare expenditures - correct answer ✔✔79.8%
what consumer-driven health plans are - correct answer ✔✔a movement that includes empowering
healthcare consumers with control, choice, and information. help individuals wisely choose their
healthcare providers, and financial incentives encourage them to request only the appropriate amount
of healthcare services
two components to consumer-driven health plasm - correct answer ✔✔spending-account models
tiered models
what defined-contribution plans are - correct answer ✔✔the employee receives a defined-benefit
package, and the employer/employee pays the premium, which is adjusted each year.
what direct contracting plans are - correct answer ✔✔when large employers contract directly with
integrated delivery systems or systems of healthcare providers capable of accepting a financial risk and
delivering a full range of healthcare services
what agency is involved in tax-exempt status determination - correct answer ✔✔IRS
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)
78252 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now