HCAD 375 Final Exam Questions With
Correct Answers
Forecasting - CORRECT ANSWER✔✔-To calculate or predict some future
| | | | | | | | |
event or condition, based on study and analysis of available pertinent
| | | | | | | | | | |
data
Examples: Staffing, revenue, operating expense
| | | |
Rates and volumes are important assumptions for revenue casting -
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CORRECT ANSWER✔✔-rate changes, capacity/volume changes, trends
| | | | | |
(staffing/patient mix) |
Define volume - CORRECT ANSWER✔✔-staffing restraints=can't fill
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beds. More beds=more revenue
| | |
Define capacity - CORRECT ANSWER✔✔-refers to the ability to produce
| | | | | | | | | |
or provide a certain amount of specific health care services. Limitations
| | | | | | | | | | |
on capacity: space and equipment availability, staffing availability.
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Define budget - CORRECT ANSWER✔✔-a written plan that quantifies
| | | | | | | | |
the activities of your organization in financial terms. Serves as a basis for
| | | | | | | | | | | |
evaluating financial performance according to policies and plans.
| | | | | | | | |
, is a useful tool for cost control
| | | | | |
creates cost awareness throughout an organization
| | | | |
External and internal environment could impact staffing, bottom line,
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equipment prices, etc - CORRECT ANSWER✔✔-Economic, political,
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epidemiological, patients, payors, labor markets, staff, capital resources,
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and organizational culture
| | |
Key Budgeting dimensions: Authoritarian/participatory - authoritarian -
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CORRECT ANSWER✔✔-Budgeting without including lower
| | | |
leadership/other departments
| |
streamlines budget process, assumptions made on how much each
| | | | | | | | |
department will spend without any input | | | | |
Key budgeting dimensions: authoritarian/participatory - participatory -
| | | | | | |
CORRECT ANSWER✔✔-asks for input from a variety of
| | | | | | |
departments/leaders to make budget changes. The pyramid model
| | | | | | | | |
takes longer to budget,
| | | |
Process: the board and top management makes strategic plan, brings to
| | | | | | | | | | |
the planning committee for creating a budget, department heads offer a
| | | | | | | | | |
budget presentation/justification, staff say what else might be needed,
| | | | | | | | | |
which leads to department heads revising the budget presentation,
| | | | | | | | |
which is then brought to top management for board review and
| | | | | | | | | | |
authorization. takes 9 months to complete the whole process.| | | | | | | |
Correct Answers
Forecasting - CORRECT ANSWER✔✔-To calculate or predict some future
| | | | | | | | |
event or condition, based on study and analysis of available pertinent
| | | | | | | | | | |
data
Examples: Staffing, revenue, operating expense
| | | |
Rates and volumes are important assumptions for revenue casting -
| | | | | | | | | |
CORRECT ANSWER✔✔-rate changes, capacity/volume changes, trends
| | | | | |
(staffing/patient mix) |
Define volume - CORRECT ANSWER✔✔-staffing restraints=can't fill
| | | | | | |
beds. More beds=more revenue
| | |
Define capacity - CORRECT ANSWER✔✔-refers to the ability to produce
| | | | | | | | | |
or provide a certain amount of specific health care services. Limitations
| | | | | | | | | | |
on capacity: space and equipment availability, staffing availability.
| | | | | | |
Define budget - CORRECT ANSWER✔✔-a written plan that quantifies
| | | | | | | | |
the activities of your organization in financial terms. Serves as a basis for
| | | | | | | | | | | |
evaluating financial performance according to policies and plans.
| | | | | | | | |
, is a useful tool for cost control
| | | | | |
creates cost awareness throughout an organization
| | | | |
External and internal environment could impact staffing, bottom line,
| | | | | | | | |
equipment prices, etc - CORRECT ANSWER✔✔-Economic, political,
| | | | | | |
epidemiological, patients, payors, labor markets, staff, capital resources,
| | | | | | |
and organizational culture
| | |
Key Budgeting dimensions: Authoritarian/participatory - authoritarian -
| | | | | | |
CORRECT ANSWER✔✔-Budgeting without including lower
| | | |
leadership/other departments
| |
streamlines budget process, assumptions made on how much each
| | | | | | | | |
department will spend without any input | | | | |
Key budgeting dimensions: authoritarian/participatory - participatory -
| | | | | | |
CORRECT ANSWER✔✔-asks for input from a variety of
| | | | | | |
departments/leaders to make budget changes. The pyramid model
| | | | | | | | |
takes longer to budget,
| | | |
Process: the board and top management makes strategic plan, brings to
| | | | | | | | | | |
the planning committee for creating a budget, department heads offer a
| | | | | | | | | |
budget presentation/justification, staff say what else might be needed,
| | | | | | | | | |
which leads to department heads revising the budget presentation,
| | | | | | | | |
which is then brought to top management for board review and
| | | | | | | | | | |
authorization. takes 9 months to complete the whole process.| | | | | | | |
