ACCREDITED TEST BANK SOLUTION FOR
GAPENSKIS FUNDAMENTALS OF HEALTHCARE
FINANCE EXAM 2026 HIGH YIELD REVIEW
◉ health services organizations. Answer: Those that provide patient
care services. Examples include hospitals, medical practices, clinics,
and nursing homes. Also called providers.
◉ accounting. Answer: The measurement and recording of events
that reflect the operations, assets, and financing of an organization.
◉ financial management. Answer: The use of theory, principles, and
concepts developed to help managers make better financial
decisions.
◉ Chief Financial Officer (CFO). Answer: The senior manager (or top
finance dog) in a large organization's finance department. Also
called vice president-finance.
◉ The four Cs. Answer: Cost measurement and minimization, cash
management, capital acquisition, and control of resources
,◉ comptroller. Answer: The finance department manager who
handles accounting, budgeting, and reporting activities. Pronounced
as and sometimes spelled as controller
◉ treasurer. Answer: The finance department manager who handles
capital acquisition, investment management, and risk management
activities
◉ business manager. Answer: The manager responsible for the
finance function in a small healthcare organization, such as a
medical practice with one or few clinicians. Also called practice
manager
◉ horizontal system. Answer: A single business entity that owns a
group of similar providers, such as hospitals.
◉ vertical system. Answer: A single business entity that owns a
group of related, but not identical, providers, such as hospitals,
medical practices, and nursing homes
◉ The Joint Comission. Answer: The main accreditation body for
hospitals and other health services organizations
, ◉ general acute care hospital. Answer: A hospital that treats all
conditions that require a relatively short hospitalization (e.g., less
than 30 days).
◉ Specialty Hospital. Answer: A hospital that treats patients with a
common characteristic or condition, such as a children's or cancer
hospital.
◉ Government hospital. Answer: -A hospital owned by a
government entity
-Federal hospitals are owned by the federal government, while
public hospitals are owned (or funded) by state or local
governments
◉ private not-for-profit hospital. Answer: A hospital that is not
governmental but is operated for the exclusive benefit of the
community
◉ investor-owned hospital. Answer: a hospital that is owned by
investors who benefit financially from its operation. Also called a
for-profit hospital.
◉ Ambulatory (outpatient) care. Answer: Care that is provided to
patients who are not institutionalized. Typical settings include
physicians' offices, outpatient surgery centers, and walk-in clinics.
GAPENSKIS FUNDAMENTALS OF HEALTHCARE
FINANCE EXAM 2026 HIGH YIELD REVIEW
◉ health services organizations. Answer: Those that provide patient
care services. Examples include hospitals, medical practices, clinics,
and nursing homes. Also called providers.
◉ accounting. Answer: The measurement and recording of events
that reflect the operations, assets, and financing of an organization.
◉ financial management. Answer: The use of theory, principles, and
concepts developed to help managers make better financial
decisions.
◉ Chief Financial Officer (CFO). Answer: The senior manager (or top
finance dog) in a large organization's finance department. Also
called vice president-finance.
◉ The four Cs. Answer: Cost measurement and minimization, cash
management, capital acquisition, and control of resources
,◉ comptroller. Answer: The finance department manager who
handles accounting, budgeting, and reporting activities. Pronounced
as and sometimes spelled as controller
◉ treasurer. Answer: The finance department manager who handles
capital acquisition, investment management, and risk management
activities
◉ business manager. Answer: The manager responsible for the
finance function in a small healthcare organization, such as a
medical practice with one or few clinicians. Also called practice
manager
◉ horizontal system. Answer: A single business entity that owns a
group of similar providers, such as hospitals.
◉ vertical system. Answer: A single business entity that owns a
group of related, but not identical, providers, such as hospitals,
medical practices, and nursing homes
◉ The Joint Comission. Answer: The main accreditation body for
hospitals and other health services organizations
, ◉ general acute care hospital. Answer: A hospital that treats all
conditions that require a relatively short hospitalization (e.g., less
than 30 days).
◉ Specialty Hospital. Answer: A hospital that treats patients with a
common characteristic or condition, such as a children's or cancer
hospital.
◉ Government hospital. Answer: -A hospital owned by a
government entity
-Federal hospitals are owned by the federal government, while
public hospitals are owned (or funded) by state or local
governments
◉ private not-for-profit hospital. Answer: A hospital that is not
governmental but is operated for the exclusive benefit of the
community
◉ investor-owned hospital. Answer: a hospital that is owned by
investors who benefit financially from its operation. Also called a
for-profit hospital.
◉ Ambulatory (outpatient) care. Answer: Care that is provided to
patients who are not institutionalized. Typical settings include
physicians' offices, outpatient surgery centers, and walk-in clinics.
