AWHONN Module 9 Exam Questions With 100% Correct Answers

What are critical resources for functional healthcare organization? ANS: -Personnel (usually the biggest expense) -Fiscal support -Physical settings -Technology -Time to do the expected work Resources translates to: $$$ Budgeting Facts - •National healthcare spending projected to grow at an average rate of 5.4% from 2019 to 2028 to reach $6.2 trillion ANS: - lots of money spent on healthcare, yet we are not doing so hot in positive results -Projected to grow faster than gross domestic product by 1.1% per year -By 2028 health care spending will account for about 20% of the US GDP -This growth of expenses is placing significant pressure on organizations to control expenditures -This poses unique challenges for nursing, as it is usually the largest labor force in the hospital (not the most costly) Basic Medical Economics 101 - ANS: Money in (insurance) - money spent (supplies, healthcare bill, basic costs of maintaining a building etc.) = money leftover (profit) Basic Economics - Supply ANS: -People -Supplies/technology -Time Basic Economics - ANS: Demand - -Number of people in a health care system -Desire and willingness to pay the asking price Basic Economics - ANS: Price - -Cost of the service -Actual charge determined by sel