DLM (ASCP) Exam Questions and Answers 100% Correct| Latest Update 2024

Project Volumes (forecasting stage) - based on expert opinion, stats, historical data, shifts in patient mix, changes in medical staff composition, changes in inflation/reimbursement ratws, expansion/cutbacks, population fluctuations based on economy Steps to creating a budget - 1. project volumes 2. convert volumes to revenue 3. convert volumes into expense requirements 4. Adjust revenue/ expenses as necessary to meet budget margin gross revenue - Rates x Production Unit (Billable test volume) Expenses - salaries/wages, reference service, instrument lease, maintenance contracts, education/travel Financial Statements - convey the financial status of an organization 4 main types - income statement, balance sheet statement of changes in equity and statement of cash flows. income statement - summarizes the operations of an organization with a focus on its revenues, expenses, and profitability. contains operational results over a period of time.