Financial Resource Management in Healthcare - C428 questions with correct answers

Costs Cash Capital Control - Answer Finance within a healthcare organization can be condensed into the "four Cs": Treasurer - Answer The finance department manager who handles capital acquisition, investment management, and risk management activities Comptroller - Answer The finance department manager who handles accounting, budgeting, and reporting activities. CFO (Chief Financial Officer) - Answer The head of the finance department holds the title of chief financial officer. (The title of vice president-finance is also used.) This individual typically reports directly to the organization's chief executive officer (CEO) and is responsible for all finance activities within the organization. costs - Answer The measurement and minimization of _____ are vital activities to the financial success of all healthcare organizations. Rampant ____, compared to revenues, usually spell doom for any business. cash - Answer A business might be profitable but still face a crisis because of a shortage of _____. ______ is the lubricant that makes the wheels of a business run smoothly; without it, the business grinds to a halt. Capital - Answer _____ represents the fun