devry HSM543 Week 8: Final Exam 2019

Question 1 5 pts

(CO G) This act eliminated the requirement of a prior hospitalization requirement for home health services reimbursement and eliminated the limitation on the number of home health visits.

Group of answer choices

National Health Planning and Resource Development Act of 1974

HIPAA

DEFRA

Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA)

Consolidated Omnibus Budget Reconciliation Act of 1993 (OBRA)

 

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Question 2 5 pts

(CO G) The SCHIP Benefits Improvement and Protection Act included provisions for which of the following?

Group of answer choices

Increased mental health funding

Increased funding for independent children's hospitals to train pediatricians

Increased funding to train nurses

Increased funding for pediatric oncology

None of the above

 

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Question 3 5 pts

(CO E) Internal rate of return can be used to evaluate projects for a capital budget. The answer will be in

Group of answer choices

years.

dollars.

percentages.

comparative numbers for each alternative.

comparison to the payback period.

 

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Question 4 5 pts

(CO E) The toughest criterion to quantify, but one that must be documented for capital budget items, is

Group of answer choices

who proposed the project (e.g., a valued physician).

nonfinancial benefits, including community needs or medical staff politics.

prior submissions for the same project.

potential for related referrals.

competitors with the same service whose volume will prevent us from ever being competitive on pricing.

 

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Question 5 5 pts

(CO B) Influencing method and amount of payment is one of the six major objectives of healthcare financial management. Which of the following is not a method of influencing the method or amount of payment and the associated risk?

Group of answer choices

Capitation with significant risk because the rate is agreed to before care is given

Steep discounts even to the point of accepting less than the cost of the service to keep market share

Assuming risk by accepting a prospective payment plan method of reimbursement

Payments at charges from self-pay patients

None of the above

 

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Question 6 5 pts

(CO B) One reason that protecting tax-exempt status is a major goal is the attempts of

Group of answer choices

state and local governments to find new revenue sources.

pressure and challenges from for-profit competitors.

public apathy concerning tax-exempt organizations.

increasing profits and revenue streams from grants and other sources.

None of the above

 

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Question 7 5 pts

(CO D) To minimize the cost associated with ordering inventory, a quantity of items that should be ordered is called

Group of answer choices

safety stock.

economic order quantity and reorder point.

quantity discount.

special order.

None of the above

 

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Question 8 5 pts

(CO D) Healthcare organizations can employ two methods to receive cash advances on outstanding accounts receivable. They are

Group of answer choices

factoring and capitalizing expenditures

factoring and pledging

pledging and capitalizing expenditures

selling accounts receivable and capitalizing expenditures

capitalizing expenditures and expensing receivables

Question 9 10 pts

(CO C) Is cost plus a percentage for growth a type of contracting that helps to control costs because it has incentives to cut costs? Describe how it works.

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Question 10 10 pts

 

(CO D) What does the current asset turnover measure? Would a higher or lower number be more desirable?

 

 

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Question 11 10 pts

(CO D) Describe the purpose of the cash flow statement and indicate the three categories of receipts and disbursements used on the statement.

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Question 12 10 pts

(COs F and G) Is it a correct assumption that most healthcare entitlement spending goes to the poor?

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Question 13 10 pts

(CO D) Discuss the role of explanatory notes.

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Question 14 10 pts

(CO D) Discuss delinquency costs associated with accounts receivable.

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Question 15 10 pts

(CO G) What does the statement of cash flows show?

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Question 16 10 pts

(CO G) What is the first step in financial analysis?

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Question 17 20 pts

(CO A) Responding to regulations is one of the major objectives of healthcare financial management. Explain what Nowicki means by quasiregulations and give an example of a quasiregulation that you are familiar with from your work or course work.

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Question 18 20 pts

(CO A) Compare and contrast the differences in accounting and finance.

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Question 19 20 pts

(CO D) There are four financial statements. Briefly describe each and then rank the statements in order of importance as if you were the CEO of the organization (i.e., which statement would you look at first when reviewing the period end reports?).

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Question 20 20 pts

(CO F) Increasingly we see more medical information in general print and electronic media. What responsibility does the media have, and how will it impact future trends?

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Question 21 20 pts

(CO F) The healthcare environment is rapidly changing. What are three responses from healthcare financial management that will affect the future trends?

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Question 22 20 pts

(CO H) Integrated delivery systems can combine through vertical or horizontal integration. Describe what vertical and horizontal integration are and give an example.

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Question 23 20 pts

(CO G) Describe asset efficiency ratios and what they are used for.

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Question 24 20 pts

(CO C) Discuss closed panel HMOs.

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