Diplomate in Laboratory Management (DLM(ASCP)
DLM (ASCP) CERTIFICATION Exam LATEST
COMPLETE FULL LENGTH EXAM WITH
CORRECT ANSWERS ORIGINAL CAT TEST
annual depreciation
(cost - salvage value) / useful life
Net Present Value (NPV)
current value of an investment taking into account impact of
interest and inflation on earnings and anticipated revenue
received of a period of years.
sum of present values of each net cash flow (each year)
Initial Rate of Return (IRR)
the discount rate that makes the NPV of an investment zero.
top-down budget
,Diplomate in Laboratory Management (DLM(ASCP)
A process by which executive managers (hospital
administration/pathologists) create the budget, and that budget
is then pushed down through the rest of the organization.
bottom up budget
A budgeting process that begins at the lowest levels of
management and filters up through the organization. comes from
managers creating their own budget for their sections
Zero-Based Budget
allocates resources as if each budget was brand new
operating budget
budget for day-to-day expenses
is based on historic/current performance and projection of
future business.
capital budget
,Diplomate in Laboratory Management (DLM(ASCP)
budget for major capital, or investment, expenditures (new
equipment, replacement equipment and construction)
Return on Investment (ROI)
aka bottom line
(gain - cost)/ cost
Net Revenue
gross revenue - deductions and allowances - budgeted direct
and indirect expenses
Budget Analysis
The process of studying financial data to provide information that
helps to make budget decisions; assessment of financial
performance.
tools needed - variance analysis, volume and productivity data
contribution margin
, Diplomate in Laboratory Management (DLM(ASCP)
difference between per unit revenue and per unit variable cost.
gives the amount left to cover the fixed costs. after fixed costs
are covered what's left contributes to the profit.
accounting breakeven
Volume needed to produce zero profit. Revenues cover all
accounting costs.
Total Revenue (cost x volume) - Total Variable (variable cost rate
x volume) - fixed costs = $0
economic breakeven
occurs when all accounting costs plus a profit target are covered
total revenue - total variable cost- fixed cost = profit
Surcharge/Cost Plus
used for reference/send out testing. Determine cost of doing a
procedure then add markup factor to get appropriate price.
DLM (ASCP) CERTIFICATION Exam LATEST
COMPLETE FULL LENGTH EXAM WITH
CORRECT ANSWERS ORIGINAL CAT TEST
annual depreciation
(cost - salvage value) / useful life
Net Present Value (NPV)
current value of an investment taking into account impact of
interest and inflation on earnings and anticipated revenue
received of a period of years.
sum of present values of each net cash flow (each year)
Initial Rate of Return (IRR)
the discount rate that makes the NPV of an investment zero.
top-down budget
,Diplomate in Laboratory Management (DLM(ASCP)
A process by which executive managers (hospital
administration/pathologists) create the budget, and that budget
is then pushed down through the rest of the organization.
bottom up budget
A budgeting process that begins at the lowest levels of
management and filters up through the organization. comes from
managers creating their own budget for their sections
Zero-Based Budget
allocates resources as if each budget was brand new
operating budget
budget for day-to-day expenses
is based on historic/current performance and projection of
future business.
capital budget
,Diplomate in Laboratory Management (DLM(ASCP)
budget for major capital, or investment, expenditures (new
equipment, replacement equipment and construction)
Return on Investment (ROI)
aka bottom line
(gain - cost)/ cost
Net Revenue
gross revenue - deductions and allowances - budgeted direct
and indirect expenses
Budget Analysis
The process of studying financial data to provide information that
helps to make budget decisions; assessment of financial
performance.
tools needed - variance analysis, volume and productivity data
contribution margin
, Diplomate in Laboratory Management (DLM(ASCP)
difference between per unit revenue and per unit variable cost.
gives the amount left to cover the fixed costs. after fixed costs
are covered what's left contributes to the profit.
accounting breakeven
Volume needed to produce zero profit. Revenues cover all
accounting costs.
Total Revenue (cost x volume) - Total Variable (variable cost rate
x volume) - fixed costs = $0
economic breakeven
occurs when all accounting costs plus a profit target are covered
total revenue - total variable cost- fixed cost = profit
Surcharge/Cost Plus
used for reference/send out testing. Determine cost of doing a
procedure then add markup factor to get appropriate price.
