MGMA CORRECT EXAMS ANSWERS AND
QUESTIONS SET A+
✔✔Lean Principle: Specify Value - ✔✔Your practice must determine which activities or
services offered and provided every day are of value to your patients, that is, value-
added activities and services that are necessary to patients and for which they are
willing to pay.
✔✔Lean Principle: Engage the staff - ✔✔best accomplish through training
✔✔Lean Principle: Eliminate waste - ✔✔The process of eliminating problems, such as
overproduction, long patient wait times, extra work for the staff that serves no purpose,
and motion waste
✔✔Lean Principle: Create Patient Access - ✔✔Refers to the ability to respond to
customer demand
✔✔Why should medical practices use benchmarks?
A. They allow the healthcare executive to understand industry trends in important areas
to see where the practice could improve
B. They allow the healthcare executive to recognize when staff members in the practice
are not performing well
C. They allow the healthcare executive to understand why the practice may be
struggling financially
D. They allow the healthcare executive to recognize industry trends in healthcare to see
additional services the pr - ✔✔A. They allow the healthcare executive to understand
industry trends in important areas to see where the practice could improve
✔✔Why are total quality management techniques such as Lean and Six Sigma used in
medical practices?
A. To engage the staff
B. To reduce practice turnover
C. To improve the efficiency, effectiveness, and quality of patient care
,D. To expand patient services - ✔✔C. To improve the efficiency, effectiveness, and
quality of patient care
✔✔The key knowledge necessary to effectively develop and implement strategic plans
include: - ✔✔Identify organizational goals and needs
Set goals and assign responsibility
Align business plans with the mission and strategy of the organization
Monitor the effectiveness of the plans
✔✔Mission - ✔✔The organization's purpose or reason for being is usually illustrated in
a mission statement
✔✔Vision - ✔✔The vision statement of an organization outlines what an organization
wants to be. It is future-oriented, inspirational, and ambitious, however, it is also realistic
and achievable.
✔✔Core Values - ✔✔Core values represent the core priorities in the organization's
culture, including what beliefs drives members and how they truly act in the
organization.
✔✔Strategic objectives - ✔✔Strategic objectives are tactical, mid-to-short-term actions
that are taken to accomplish a goal.
✔✔What is the first step in the strategic planning process? - ✔✔To define the medical
group practices mission
✔✔what does SWOT mean - ✔✔Strength, Weakness, Opportunities, and Threats
✔✔What are the two questions and SWOT analysis addresses? - ✔✔1. What are the
significant issues that the group practice faces today?
2. How should the group practice attend to these issues?
✔✔What are the four steps for successful data and informational gathering? - ✔✔1.
Begin with the end in mind.
2. Before data collection begins, document the assumptions and methodology for
collection.
3. Communicate your goals
4. Collect the data and analyze it based on the assumptions you made at the beginning
of the process.
✔✔Cost-Benefit Analysis procedure always involves: - ✔✔1. Define the plan or decision
and the process by drawing a flowchart or by listing all inputs, outputs, activities, and
events, using the budget or other financial statements and information as guides
2. Calculate the cost and benefit of each service
3. Compare the sum of the costs with the sum of the benefits
, 4. Select the best choices if alternatives are being considered
✔✔Monitoring strategic plans should include: - ✔✔1. Ensuring activities are within the
parameters of the plan
2. Making sure activities are consistent with the practice's mission, vision, and goals.
3. Continuing to review internal and external changes, such as ne legislation, which may
affect the strategic plan.
✔✔What is the first step in the strategic planning process?
A. Select a facilitator
B. Define the practice's mission
C. Collect Data
D. Perform analysis - ✔✔B. Define the practice's mission
✔✔How does a medical practice evaluate where it is in the market?
A. Define the practice's mission
B. Communicate the strategic plan
C. Survey the community
D. Undertake an analysis of practice and its current place in the market - ✔✔D.
Undertake an analysis of practice and its current place in the market
✔✔SMART goals - ✔✔goals that are specific, measurable, attainable, realistic, timely,
or tangible
✔✔Once you have decided the level of project management methods that will be
engaged its time to initiate the project and establish goals. Initiating the project involves
the following steps: - ✔✔1. Define the scope of the project
2. Develop specific goals
3. Define key project milestones
4. Define deliverables
4. Outline tasks
5. Determine costs
6. Establish deadlines
✔✔In project initiation team members should include: - ✔✔1. Project Manager
2. Project Sponsor
3. Subject matter experts
4. Managers in charge of resources
5. Staff members involved in the process or product
✔✔Define project boundaries - ✔✔the predetermined limitations of the project, such as
its budget, the number of people that can be used as team members on the project, as
well as the equipment and other resources that are available.
QUESTIONS SET A+
✔✔Lean Principle: Specify Value - ✔✔Your practice must determine which activities or
services offered and provided every day are of value to your patients, that is, value-
added activities and services that are necessary to patients and for which they are
willing to pay.
✔✔Lean Principle: Engage the staff - ✔✔best accomplish through training
✔✔Lean Principle: Eliminate waste - ✔✔The process of eliminating problems, such as
overproduction, long patient wait times, extra work for the staff that serves no purpose,
and motion waste
✔✔Lean Principle: Create Patient Access - ✔✔Refers to the ability to respond to
customer demand
✔✔Why should medical practices use benchmarks?
A. They allow the healthcare executive to understand industry trends in important areas
to see where the practice could improve
B. They allow the healthcare executive to recognize when staff members in the practice
are not performing well
C. They allow the healthcare executive to understand why the practice may be
struggling financially
D. They allow the healthcare executive to recognize industry trends in healthcare to see
additional services the pr - ✔✔A. They allow the healthcare executive to understand
industry trends in important areas to see where the practice could improve
✔✔Why are total quality management techniques such as Lean and Six Sigma used in
medical practices?
A. To engage the staff
B. To reduce practice turnover
C. To improve the efficiency, effectiveness, and quality of patient care
,D. To expand patient services - ✔✔C. To improve the efficiency, effectiveness, and
quality of patient care
✔✔The key knowledge necessary to effectively develop and implement strategic plans
include: - ✔✔Identify organizational goals and needs
Set goals and assign responsibility
Align business plans with the mission and strategy of the organization
Monitor the effectiveness of the plans
✔✔Mission - ✔✔The organization's purpose or reason for being is usually illustrated in
a mission statement
✔✔Vision - ✔✔The vision statement of an organization outlines what an organization
wants to be. It is future-oriented, inspirational, and ambitious, however, it is also realistic
and achievable.
✔✔Core Values - ✔✔Core values represent the core priorities in the organization's
culture, including what beliefs drives members and how they truly act in the
organization.
✔✔Strategic objectives - ✔✔Strategic objectives are tactical, mid-to-short-term actions
that are taken to accomplish a goal.
✔✔What is the first step in the strategic planning process? - ✔✔To define the medical
group practices mission
✔✔what does SWOT mean - ✔✔Strength, Weakness, Opportunities, and Threats
✔✔What are the two questions and SWOT analysis addresses? - ✔✔1. What are the
significant issues that the group practice faces today?
2. How should the group practice attend to these issues?
✔✔What are the four steps for successful data and informational gathering? - ✔✔1.
Begin with the end in mind.
2. Before data collection begins, document the assumptions and methodology for
collection.
3. Communicate your goals
4. Collect the data and analyze it based on the assumptions you made at the beginning
of the process.
✔✔Cost-Benefit Analysis procedure always involves: - ✔✔1. Define the plan or decision
and the process by drawing a flowchart or by listing all inputs, outputs, activities, and
events, using the budget or other financial statements and information as guides
2. Calculate the cost and benefit of each service
3. Compare the sum of the costs with the sum of the benefits
, 4. Select the best choices if alternatives are being considered
✔✔Monitoring strategic plans should include: - ✔✔1. Ensuring activities are within the
parameters of the plan
2. Making sure activities are consistent with the practice's mission, vision, and goals.
3. Continuing to review internal and external changes, such as ne legislation, which may
affect the strategic plan.
✔✔What is the first step in the strategic planning process?
A. Select a facilitator
B. Define the practice's mission
C. Collect Data
D. Perform analysis - ✔✔B. Define the practice's mission
✔✔How does a medical practice evaluate where it is in the market?
A. Define the practice's mission
B. Communicate the strategic plan
C. Survey the community
D. Undertake an analysis of practice and its current place in the market - ✔✔D.
Undertake an analysis of practice and its current place in the market
✔✔SMART goals - ✔✔goals that are specific, measurable, attainable, realistic, timely,
or tangible
✔✔Once you have decided the level of project management methods that will be
engaged its time to initiate the project and establish goals. Initiating the project involves
the following steps: - ✔✔1. Define the scope of the project
2. Develop specific goals
3. Define key project milestones
4. Define deliverables
4. Outline tasks
5. Determine costs
6. Establish deadlines
✔✔In project initiation team members should include: - ✔✔1. Project Manager
2. Project Sponsor
3. Subject matter experts
4. Managers in charge of resources
5. Staff members involved in the process or product
✔✔Define project boundaries - ✔✔the predetermined limitations of the project, such as
its budget, the number of people that can be used as team members on the project, as
well as the equipment and other resources that are available.
