Healthcare Financial Management

when healthcare finance is considered "a method of getting money in and out of business," the successful manager is able to achieve the most beneficial outcomes of adjusting inflow and outflow through which actions A. Organizing B. Controlling C. Decision Making D.Planning E. Alll of these are correct - ANS-all of these are correct The manager with a financial viewpoint: A. works with the system of the organization. B. is responsible for reporting function of the organization. C. May be responsible for reporting function of the organization. D. All of these are correct - ANS-is responsible for the reporting function of the organization Of the four segments that make a healthcare financial system work, which segment provides evidence that an event has occurred? A. The reporting system B. The accounting system C. The original records D. The information system - ANS-The orginal records True or False? When creating a report to communicate financial information, the manager must typically use a standard format that is accepted in the accounting profession and uses terminology that is accepted in your area of the healthcare industry. - ANS-True The growth of social media has been dramatic, and its use of hospitals has increased proportionately. Relative to the use of social media by hospitals, it can A. help the hospital manage the patient experience. B. Hinder communications between the hospital and the patient. C. Make the patient experience more complicated. D. All of these are correct - ANS-help the hospital manage the patient experience. There are risks and challenges associated with healthcare consumers use of social media. Examples may include: A. difficulty in controlling the quality of information B. Patient privacy and security C. Difficulty in controlling the quality of the information and patient privacy D. Difficulty in controlling the quality of information and patient privacy and security - ANS-difficulty in controlling the quality of information and patient privacy and security. Examples of Assets include: A. inventory B. Land C. accounts receivable D. cash E. All of the above - ANS-all of the above Assets are A. what the organization owns and/or controls B. what the organization owes C. economic obligations d. equity - ANS-what the organization owns and/or controls liabilities are A. debts that are payable B. What the organization owns C. equity D, fund balance - ANS-debts that payable typical classifications used to group revenues include A. revenue source B. revenue center C. Care setting D. Service Lines E. All of these are correct - ANS-all of these are correct in the case of health care, revenue is typically earned by: A. rendering services to the community B. rendering services to patients C. professionals such as physicians D, organizations such as hospitals - ANS-rendering services to patients Major deductions from revenues include: A. Provision for bad debts B. Contractual allowance C. clarity service D. all of these are correct - ANS-all of these are correct The term expense: A. May include the amount of cash expended (or services performed) in consideration of goods or services reached or to be received. B. May include every cost that is deductible from revenue C. Is interchangeable with the term cost D. All of these are correct - ANS-may include every expired cost that is deductible from revenue...