CMOM MODULE 3 TEST QUESTIONS AND ANSWERS

CMOM MODULE 3 TEST QUESTIONS AND
ANSWERS


Gross Collection Ratio - ANSWER (Total Collections) / gross charges


Average Months in A/R - ANSWER (Total A/R for the past month) / average
monthly billing for the past 12 months


Total Expenses Per patient - ANSWER (Total Expense) / (Total Number of
patients)


Average Billing per Patient - ANSWER (Total billing per month or year) /
(total number of patients by month or year)


Average Net Collections Per Patient - ANSWER (total net collections per
month or year) / (Total number of patients by month or year)


Average Cost Per patient - ANSWER Total Variable expenses per month or
year) / Total number of patients by month or year)


Net Collection Ratio - ANSWER Total Collections) / Total Charges -
adjustments)


Expense to Earnings Ratio Overhead Ratio - ANSWER Expenses) / Net
Collections)

, Average Collection Period - ANSWER Accounts Receivable) / Average Daily
Charges


Budget - ANSWER -allows the practice to gauge projected financial goals
against the actual financial performance
-projects revenue expenditures
-measure cost containment and revenue requirements


Factors to determine in setting goals - ANSWER -number of providers
-services being offered
-facility
-support staff
-number of patients
-insurance networks
-marketing plan


Goals - ANSWER must be determined for a practice prior to establishing a
budget and financial policies


Things to think about when setting goals - ANSWER -capital
-capabilities of the facilities
-inflation
-competition
-trends in reimbursement
-unexpected events