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Exam (elaborations)

MHA 706 Midterm Study Guide – Lord | Complete Notes & Exam Prep

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Institution Mha 706
Course Mha 706
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Prepare for your MHA 706 Midterm with this comprehensive study guide curated by Lord. This document includes key concepts, summarized notes, and high-yield topics to help you master the material and confidently tackle your midterm exam. Ideal for students in healthcare administration, this resource supports efficient study, concept reinforcement, and last-minute revision, making it perfect for exam success.

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MHAghn706ghnMidterm-ghnLord


Proprietorshipsghn&ghnPartnerships:ghnProsghn&ghnConsghn-
ghnCORRECTghnANSWER✔Pros:ghnEaseghnofghnInformation, ghnSubjectghntoghn

aghnfewghnregulations,ghnnoghncorporationghnincomeghntaxes.
Cons:ghnLimitedghnlife,ghndifficultghntoghntransfer,ghnunlimitedghnlife,ghndifficultghnt
oghnraiseghncapital.


Corporations:ghnProsghn&ghnConsghn-
ghnCORRECTghnANSWER✔Pros:ghnUnlimited ghnlife,ghneasyghntransfer ghnofghno

wnership,ghnlimitedghnliability,ghneaseghnofghnraisingghncapital.
Cons:ghnCostghnofghnformationghnandghnreporting,ghndoubleghnorghntripleghntaxesghn
mustghnbeghnpaid.


Non-profitghnOrganizationghn-
ghnCORRECTghnANSWER✔Exemptghnfromghntaxes.ghnGoalghnisghntoghnimprov

eghncommunity.


For-profitghnOrganizationsghn-
ghnCORRECTghnANSWER✔(InvestorghnOwned)ghnGoalghnisghntoghnmaximize g

hnshareholderghnreturn.ghnOweghntaxes.




AgencyghnProblemghn-
ghnCORRECTghnANSWER✔theghnpossibilityghnofghnconflictghnofghninterestghnb

etweenghntheghnstockholdersghnandghnmanagementghnofghnaghnfirm.

,Example:ghnHireghnsomeoneghntoghncarryghnoutghnaghnjobghnfunction,ghnbutghntheyghn
goghnoutghnofghntheirghninterestsghninsteadghnofghnbestghninterestsghnofghncompany/
organization.


Third-partyghnpayorghnsystemghninghntheghnUSghn(i.e.ghnprivateghnvsghnpublic)ghn-
ghnCORRECTghnANSWER✔Private:ghnBlueghnCrossghnBlueghnShield,ghnCom

mercialghnInsurers,ghnSelf-Insurers.ghn(AETNA)


Public:ghnMedicareghnandghnMedicaid-
bothghnofferghnservicesghntoghndifferentghnlevels.ghn"Safetyghnnet"ghnLowestghnreim
bursementghnrates.


Reimbursementghnmethodsghn(fee-for-serviceghnvs.ghncapitation)ghn-
ghnCORRECTghnANSWER✔FeeghnforghnService:ghnpaymentghnisghntiedghntoghna

mountghnofghnservicesghnprovided.ghn(Decadesghnago)ghn*Dentalghnindustry*


Capitation:ghnpaymentghnisghntiedghntoghntheghnsizeghnofghntheghncoveredghnpopulatio
nghn(numberghnofghnenrollees)ghnPaymentghnisghnbasedghnonghnperghn#ghnperghnmonth.
ghn*Decreasingghnutilization*ghnPopulation ghnisghnhealthier.




Medicareghnreimbursementghnforghndifferentghntypesghnofghnprovidersghn-
ghnCORRECTghnANSWER✔MedicareghnpartsghnA,ghnBghn&ghnC.




MedicareghnPartghnAghn(akaghnHospitalghnInsuranceghnorghnHI)ghn-
ghnCORRECTghnANSWER✔Providesghnhospitalghninsuranceghnautomaticall

yghnatghnageghn65ghn(ifghnFICAghnqualified)ghnatghnnoghnfeeghnbutghnmayghnhaveghndedu
ctibleghn&ghnco-pay.

, MedicareghnPartghnBghn-
ghnCORRECTghnANSWER✔TheghnpartghnofghntheghnMedicareghnprogramghnthat

ghnpaysghnforghnphysicianghnservices,ghnoutpatientghnhospitalghnservices,ghndurable

ghnmedicalghnequipment,ghnandghnotherghnservicesghnandghnsupplies.




MedicareghnPartghnCghn(MedicareghnAdvantage)ghn-
ghnCORRECTghnANSWER✔•Replacesghnandghncoversghnexpensesghnfoundghni

nghnPartghnAghnandghnB
•Medicareghnprivateghnfee-for-serviceghnplansghn(PFFS)
•Medicareghnmanagedghncareghnplansghn(HMOsghnandghnPPOs)
•Medicareghnspecialtyghnplans


Medicare—PartghnDghnPrescriptionghnDrugghnCoverageghn-
ghnCORRECTghnANSWER✔aghnUnitedghnStatesghnfederal-

governmentghnprogramghntoghnsubsidizeghntheghncostsghnofghnprescriptionghndrugsg
hnandghnprescriptionghndrugghninsuranceghnpremiumsghnforghnMedicareghnbenefici

aries.


ImpactghnofghntheghnAffordableghnCareghnActghn(whatghntheghnbillghnchangedghnabou
tghntheghnhealthcareghnenvironment)ghn-
ghnCORRECTghnANSWER✔Createdghnnewghnstandards,ghnindividualghnmand

ates,ghnexchanges,ghnandghnMedicaidghnexpansion.
Focusedghnonghnqualityghnthroughghnclinicalghncompensation,ghnbundledghnpaym
ent,ghnvalue-basedghnpurchasing.

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