C428 study Exam Questions and Answers
Graded A+
(1) Why is financial management important to the org? - Correct answer-provide
accounting and finance info
(1) What is the distinction between the purpose of healthcare management and the
purpose of healthcare financial management? - Correct answer-healthcare financial
management purpose: provide accounting and finance information that helps
healthcare managers accomplish the organization's purpose
healthcare management purpose: planning, organizing, staffing, directing, and
controlling and through communicating, coordinating, and decision making
(1) How would you prioritize the major objectives of healthcare financial
management? - Correct answer-1 to generate income
2 to respond to regulations
3 facilitate relationships with third party payers
4 influence method and amount of payment
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, 5 monitor physicians
6 protect tax status
(1) What are the major ethical theories, and how do they apply to the role of a
healthcare manager? - Correct answer-resource allocation, conflicts of interest,
patient billing practices. Page 14.
(1) why should financial managers be concerned with quality initiatives in
healthcare organization? - Correct answer-improvements to quality lead to
improvements in productivity, which leads to lower costs, which increases profit.
(1) how would you predict that financial management and the management
functions will be important as healthcare changes in the future? - Correct answer-
The increased number of individuals with health insurance, the changing
reimbursement structures, explicit linking of reimbursement with quality
measurements.
(2) how would you explain the meaning of corporate status in relation to healthcare
organizations? What are the advantages corporate status provides? - Correct
answer-most healthcare orgs. are organized as legal entities called corporations.
corporate status is granted by the state and provides advantages for the healthcare
org.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
Graded A+
(1) Why is financial management important to the org? - Correct answer-provide
accounting and finance info
(1) What is the distinction between the purpose of healthcare management and the
purpose of healthcare financial management? - Correct answer-healthcare financial
management purpose: provide accounting and finance information that helps
healthcare managers accomplish the organization's purpose
healthcare management purpose: planning, organizing, staffing, directing, and
controlling and through communicating, coordinating, and decision making
(1) How would you prioritize the major objectives of healthcare financial
management? - Correct answer-1 to generate income
2 to respond to regulations
3 facilitate relationships with third party payers
4 influence method and amount of payment
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, 5 monitor physicians
6 protect tax status
(1) What are the major ethical theories, and how do they apply to the role of a
healthcare manager? - Correct answer-resource allocation, conflicts of interest,
patient billing practices. Page 14.
(1) why should financial managers be concerned with quality initiatives in
healthcare organization? - Correct answer-improvements to quality lead to
improvements in productivity, which leads to lower costs, which increases profit.
(1) how would you predict that financial management and the management
functions will be important as healthcare changes in the future? - Correct answer-
The increased number of individuals with health insurance, the changing
reimbursement structures, explicit linking of reimbursement with quality
measurements.
(2) how would you explain the meaning of corporate status in relation to healthcare
organizations? What are the advantages corporate status provides? - Correct
answer-most healthcare orgs. are organized as legal entities called corporations.
corporate status is granted by the state and provides advantages for the healthcare
org.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
