HCA 285 FINAL EXAM UPDATED QUESTIONS AND
CORRECT ANSWERS
Question:
1. six main pieces of healthcare legis-lation
Answer:
-Anti-kickback statue -Patient/physician referral (stark law) -False claims act -HIPPA -EMTALA
-PPACA
Question:
2. tort law
Answer:
-one person's behavior causes injury, suffering, unfair loss or harm to another person
Question:
3. what is medical malpractice
Answer:
-doctor owed patient a duty of care -doctor breached duty of care -doctor caused injury -patient
suffered damages
Question:
4. economic effects of medical mal-practice
Answer:
defensive medicine
Question:
5. PPACA main as-pects and effect
Answer:
-medicaid expansion -individual mandate -employer mandate -insurance exchanges -quantifying
health plans
Question:
6. source for fund-ing hospitals and healthcare orga-nizations
Answer:
medicare and medicaid jointly federal and state
Question:
7. income state-ment
Answer:
is the business making money? -revenues -expenses -profitability
Question:
8. revenue
Answer:
money coming in
, Question:
9. expenses
Answer:
money going out
Question:
10. profitability
Answer:
revenue-expenses=profit or loss
Question:
11. gross revenue
Answer:
-what a provider charges -total amount of all billed charges generated from providing a healthcare
service
Question:
12. net revenue
Answer:
-what a provider expects to receive -total amount of revenue after deductions from gross revenue; the
amount of cash a healthcare organization can expect to collect
Question:
13. cost of doing business
Answer:
salaries/wages supplies utilities other operating expenses
Question:
14. EBITDA
Answer:
Earnings before interest, taxes, depreciation, and amortization
Question:
15. net income
Answer:
-the bottom line on the income statement -amount of money that is left over after all expenses are
deducted (profit)
Question:
16. balance sheet
Answer:
A financial statement that reports assets, liabilities, and owner's equity on a specific date.
Question:
17. assets
Answer:
possess or create economic benefits
CORRECT ANSWERS
Question:
1. six main pieces of healthcare legis-lation
Answer:
-Anti-kickback statue -Patient/physician referral (stark law) -False claims act -HIPPA -EMTALA
-PPACA
Question:
2. tort law
Answer:
-one person's behavior causes injury, suffering, unfair loss or harm to another person
Question:
3. what is medical malpractice
Answer:
-doctor owed patient a duty of care -doctor breached duty of care -doctor caused injury -patient
suffered damages
Question:
4. economic effects of medical mal-practice
Answer:
defensive medicine
Question:
5. PPACA main as-pects and effect
Answer:
-medicaid expansion -individual mandate -employer mandate -insurance exchanges -quantifying
health plans
Question:
6. source for fund-ing hospitals and healthcare orga-nizations
Answer:
medicare and medicaid jointly federal and state
Question:
7. income state-ment
Answer:
is the business making money? -revenues -expenses -profitability
Question:
8. revenue
Answer:
money coming in
, Question:
9. expenses
Answer:
money going out
Question:
10. profitability
Answer:
revenue-expenses=profit or loss
Question:
11. gross revenue
Answer:
-what a provider charges -total amount of all billed charges generated from providing a healthcare
service
Question:
12. net revenue
Answer:
-what a provider expects to receive -total amount of revenue after deductions from gross revenue; the
amount of cash a healthcare organization can expect to collect
Question:
13. cost of doing business
Answer:
salaries/wages supplies utilities other operating expenses
Question:
14. EBITDA
Answer:
Earnings before interest, taxes, depreciation, and amortization
Question:
15. net income
Answer:
-the bottom line on the income statement -amount of money that is left over after all expenses are
deducted (profit)
Question:
16. balance sheet
Answer:
A financial statement that reports assets, liabilities, and owner's equity on a specific date.
Question:
17. assets
Answer:
possess or create economic benefits
