LSUS MHA 706 Financial Management Midterm ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS LATEST UPDATE THIS YEAR Exam Question with 100 Correct An
LSUS MHA 706 Financial Management Midterm QUESTIONS AND THIS YEAR Exam Question with 2026 | Current Edition Solutions The major provisions of the Patient Protection & Affordable Care Act of 2010 were? - answer - -Banning of preexisting condition coverage limitations -Free preventative care -Medicaid expansion Which of the following statement(s) about the finance department a t large healthcare organizations is/are correct? - answer - -The CFO typically reports directly to the chief executive officer (CEO) -The CFO is usually assisted by a comptroller and treasurer -The department is headed by the chief financial officer (CFO) (sometimes called the vice president-finance) In a not-for-profit hospital, the following are example(s) of a stakeholder. - answer - -Vendor -Employee -Community Stockholders have all of the following right(s)... - answer - -Claim on residual liquidation proceeds -Right of control -A possible dividend and/or capital gains Which of the following statements about finance accounting, and financial management is most correct? - answer - Financial management provides the theory, concepts, and tools necessary to help managers make better financial decisions. External reporting - answer - What is a DISADVANTAGE of being a corporation? Facilities management - answer - Which of the following are not finance activities? What is NOT a advantage of proprietorship? - answer - Unlimited liability A not-for-profit corporation can also be called a 529(b). - answer - False The primary goal of investor-owned corporations is shareholder wealth maximization. - answer - True Copayments - answer - The fixed amount for a covered service that the insurer mandates that the patient pay to the provider before the patient receives service from the provider. Coinsurance - answer - Requires an individual to pay for a certain percentage of the eligible medical expenses. Adverse selection - answer - Individuals at greater risk of needing health care are more likely to purchase insurance. Deductibles - answer - The amount that must be paid out of pocket by the policyholder before an insurance provider will pay any expenses. Moral hazard - answer - The risk of overuse of health services because the insured does not bear the full cost of the consequences. Medicare Part B - answer - Covers physician services, ambulatory surgical services, outpatient services, and certain other miscellaneous services. Medicare Part A - answer - Covers hospital and some skilled nursing coverage Medicare Part D - answer - Covers prescription drugs Medicare Part C - answer - Is often called Medicare Advantage Charge-Based - answer - Payers pay based off of pre-determined "chargemaster." These payments are usually discounted up to 20% to 50%. Cost-Based - answer - Providers were reimbursed for "actual" costs. Capitation - answer - Payment is (usually) made on a per member per month basis Prospective Payment - answer - Are use to pay for either a predefined procedure, diagnosis, per diem or bundled service Has potential to result in 'gamesmanship that can inflate healthcare charges - answer - Charge-Based May result in up-coding - answer - Prospective Payment No incentive to control costs - answer - Cost-Based Providers may have an incentive to reduce utilization - answer - Capitation Under the broad category of fee-for-service (FFS), what are the three main types of fee-for-service methodologies that were discussed in class? - answer - -Cost-Based -Charge-Based -Prospective Payments Select all of the TRUE statements about ICD Codes. - answer - -The greater the number of digits in the code, the more detailed the disease. -The codes currently consist of 3, 4, 5, 6, or 7 digits/characters -ICD- stands for International Classification of Diseases -ICD-10 is the current standard Identify all the different types of managed care insurance plans. - answer - -Health maint
Document information
- Uploaded on
- October 9, 2026
- Number of pages
- 14
- Written in
- 2026/2027
- Type
- Exam (elaborations)
- Contains
- Questions & answers
