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Midterm- MHA 706 Finance upto 185 High-Yield Questions, Definitions & Board-Style Revision Notes for Nursing, Health Administration and Healthcare Management Students

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Midterm- MHA 706 Finance upto 185 High-Yield Questions, Definitions & Board-Style Revision Notes for Nursing, Health Administration and Healthcare Management Students

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Midterm- MHA 706 Finance upto 185
High-Yield Questions, Definitions &
Board-Style Revision Notes for
Nursing, Health Administration and
Healthcare Management Students
HEALTHCARE FINANCE MASTER REVISION NOTES (PART II)

HEALTHCARE REFORM & FINANCE DEPARTMENT

112. Major Provisions of the Patient Protection and Affordable Care Act (ACA) of 2010

CORRECT ANSWERS:

• Banning of preexisting condition coverage limitations

• Free preventive care

• Medicaid expansion

113. Finance Department at Large Healthcare Organizations

CORRECT ANSWERS:

• CFO typically reports directly to the CEO

• CFO is assisted by a comptroller and treasurer

• Department is headed by the CFO



STAKEHOLDERS & OWNERSHIP

114. Stakeholders in a Not-for-Profit Hospital

CORRECT ANSWERS:

• Vendors

• Community

• Employees

, 115. Stockholder Rights

CORRECT ANSWERS:

• Claim on residual liquidation proceeds

• Right of control

• Possible dividends and/or capital gains

116. Finance, Accounting & Financial Management

CORRECT ANSWER:
Financial management provides the theory, concepts, and tools necessary to help managers
make better financial decisions.

117. Disadvantage of Being a Corporation

CORRECT ANSWER:
External reporting requirements.

118. Finance Activities

CORRECT ANSWERS:

• Financial reporting

• Planning and budgeting

• Financing decisions

119. NOT an Advantage of a Proprietorship

CORRECT ANSWER:
Unlimited liability.



MEDICARE

120. Medicare Part A

CORRECT ANSWER:
Covers hospital services and some skilled nursing home coverage.

121. Medicare Part B

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