HCAD 760 MIDTERM Exam Questions
With Verified Answers.
Definition of healthcare finance depends on the context of: - answer✔1) policymaker or manager
2) type of healthcare organization
the practice of finance, including both accounting & financial management, within health
services (provider) organizations - answer✔health care finance
measurement, in financial (dollar) terms, of events that reflect the resources, operations, &
financing of an organization; external reports, taxes - answer✔accounting
theory, concepts, & tools necessary to help managers make better financial decisions; internal,
improves organization's opportunities & efficiency - answer✔financial management
accounting & financial mgmt independent? - answer✔No, both capture, measure, & use data, but
with different purpose
characteristics of business: - answer✔1) obtains financing from marketplace
2) uses funds to buy assets
3) operates the assets to provide goods or services
4) sells goods or services to create revenue
goals of business (for profit) - answer✔max shareholder return
goals of pure charity - answer✔max community or mission benefit
to plan for, acquire, & utilize resources to maximize the efficiency (& hence value) of the
enterprise - answer✔primary role of finance
__________________________ decreases possibility of stealing - answer✔segregation of duties
health service settings - answer✔hospital (inpatient)
ambulatory (outpatient)
long-term care
integrated delivery systems
Mgmt challenges - ACHE - answer✔financial concerns
medicaid
medicare
indigent care & bad debt losses
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 sirjoel. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
