Healthcare finance exam 2
purpose of healthcare financial management - correct answer ✔✔to provide accounting and finance
information that helps healthcare managers accomplish organization.
most important objective of healthcare financial management - correct answer ✔✔generate income
other objectives of healthcare financial management - correct answer ✔✔respond to regulations
facilitate relationships with 3 rd party payers
influence method and amount of payment
monitor physicians
protect tax status
management functions - correct answer ✔✔all the organizational purposes by planning, organizing,
staffing, directing and controlling
management connective processes - correct answer ✔✔by communicating, coordinating, and decision
making
purpose of financial accounting - correct answer ✔✔to provide accounting information.
managerial accounting - correct answer ✔✔provide accounting information, generally current or
prospective in nature, to internal users, including managers.
cost accounting - correct answer ✔✔the study of costs including methods for classifying, allocating,
identifying costs
direct measures of quality - correct answer ✔✔goal based measures
responsive measures
, decision-making measures
connoisseurship measures
indirect measures of quality - correct answer ✔✔resource measures
outcome measures
repetitional measures
vale-added measures
most common third party payer - correct answer ✔✔insurance and government (through medicare and
medicaid)
what are third party payers - correct answer ✔✔agents of patients who contact with providers to pay all
or a part of the bill to the patient.
third party payers represent how much of total healthcare expenditures - correct answer ✔✔79.8%
what consumer-driven health plans are - correct answer ✔✔a movement that includes empowering
healthcare consumers with control, choice, and information. help individuals wisely choose their
healthcare providers, and financial incentives encourage them to request only the appropriate amount
of healthcare services
two components to consumer-driven health plasm - correct answer ✔✔spending-account models
tiered models
what defined-contribution plans are - correct answer ✔✔the employee receives a defined-benefit
package, and the employer/employee pays the premium, which is adjusted each year.
what direct contracting plans are - correct answer ✔✔when large employers contract directly with
integrated delivery systems or systems of healthcare providers capable of accepting a financial risk and
delivering a full range of healthcare services
what agency is involved in tax-exempt status determination - correct answer ✔✔IRS
purpose of healthcare financial management - correct answer ✔✔to provide accounting and finance
information that helps healthcare managers accomplish organization.
most important objective of healthcare financial management - correct answer ✔✔generate income
other objectives of healthcare financial management - correct answer ✔✔respond to regulations
facilitate relationships with 3 rd party payers
influence method and amount of payment
monitor physicians
protect tax status
management functions - correct answer ✔✔all the organizational purposes by planning, organizing,
staffing, directing and controlling
management connective processes - correct answer ✔✔by communicating, coordinating, and decision
making
purpose of financial accounting - correct answer ✔✔to provide accounting information.
managerial accounting - correct answer ✔✔provide accounting information, generally current or
prospective in nature, to internal users, including managers.
cost accounting - correct answer ✔✔the study of costs including methods for classifying, allocating,
identifying costs
direct measures of quality - correct answer ✔✔goal based measures
responsive measures
, decision-making measures
connoisseurship measures
indirect measures of quality - correct answer ✔✔resource measures
outcome measures
repetitional measures
vale-added measures
most common third party payer - correct answer ✔✔insurance and government (through medicare and
medicaid)
what are third party payers - correct answer ✔✔agents of patients who contact with providers to pay all
or a part of the bill to the patient.
third party payers represent how much of total healthcare expenditures - correct answer ✔✔79.8%
what consumer-driven health plans are - correct answer ✔✔a movement that includes empowering
healthcare consumers with control, choice, and information. help individuals wisely choose their
healthcare providers, and financial incentives encourage them to request only the appropriate amount
of healthcare services
two components to consumer-driven health plasm - correct answer ✔✔spending-account models
tiered models
what defined-contribution plans are - correct answer ✔✔the employee receives a defined-benefit
package, and the employer/employee pays the premium, which is adjusted each year.
what direct contracting plans are - correct answer ✔✔when large employers contract directly with
integrated delivery systems or systems of healthcare providers capable of accepting a financial risk and
delivering a full range of healthcare services
what agency is involved in tax-exempt status determination - correct answer ✔✔IRS
