HCAD 375 Exam 1 Questions with 100%
Correct Answers 2024/2025
What has led to increase healthcare costs? - ANSWERS_ Cost of materials
- Labor costs
- Rx
- Increase in demand
What has lead to the decrease in medical costs? - ANSWERS- CMS
- Medical tourism
- Outpatient care
Propriety - ANSWERS- Corporate
- Pays taxes
- For profit
Non- profit - ANSWERStax exempt
Patient first
Still needs to be financial responsible
Administrators role in financial management - ANSWERS- Depends on size of the organization
- Could oversee, could be the one doing the math
Managerial Accounting - ANSWERSDay to day basis like budgeting and financial accounts, internal book
keeping
Financial Accounting - ANSWERSEnd of year reports
Used for third- party use
, Bound by GAAP rules
Per Capita Basis - ANSWERSPer person rather than outcome or value based
Cost based - ANSWERSProvider sets the price
Prospective Payment system - ANSWERSPrefixed determined costs to help providers from overcharging
Value based service - ANSWERSBest quality you can get for a cheap cost
Payer mix/ patient mix - ANSWERSheads in beds
Medicare A - ANSWERSInpatient services
Medicare B - ANSWERSphysicians and "outpatient" (what medicare A does not cover) SNFs
Medicare C - ANSWERSAdvantage plan (covers emergency, extra costs, etc.)
Medicare D - ANSWERSDrugs
Payment structure: SNF - ANSWERSPer diem
Payment structure: Hospitals - ANSWERSCase rate
Payment structure: Home health - ANSWERSepisodes of care
Payment structure: professional providers (MD, PTS, etc.) - ANSWERSfee schedule
What are key criteria for Medicare SNF coverage? - ANSWERS65+
Correct Answers 2024/2025
What has led to increase healthcare costs? - ANSWERS_ Cost of materials
- Labor costs
- Rx
- Increase in demand
What has lead to the decrease in medical costs? - ANSWERS- CMS
- Medical tourism
- Outpatient care
Propriety - ANSWERS- Corporate
- Pays taxes
- For profit
Non- profit - ANSWERStax exempt
Patient first
Still needs to be financial responsible
Administrators role in financial management - ANSWERS- Depends on size of the organization
- Could oversee, could be the one doing the math
Managerial Accounting - ANSWERSDay to day basis like budgeting and financial accounts, internal book
keeping
Financial Accounting - ANSWERSEnd of year reports
Used for third- party use
, Bound by GAAP rules
Per Capita Basis - ANSWERSPer person rather than outcome or value based
Cost based - ANSWERSProvider sets the price
Prospective Payment system - ANSWERSPrefixed determined costs to help providers from overcharging
Value based service - ANSWERSBest quality you can get for a cheap cost
Payer mix/ patient mix - ANSWERSheads in beds
Medicare A - ANSWERSInpatient services
Medicare B - ANSWERSphysicians and "outpatient" (what medicare A does not cover) SNFs
Medicare C - ANSWERSAdvantage plan (covers emergency, extra costs, etc.)
Medicare D - ANSWERSDrugs
Payment structure: SNF - ANSWERSPer diem
Payment structure: Hospitals - ANSWERSCase rate
Payment structure: Home health - ANSWERSepisodes of care
Payment structure: professional providers (MD, PTS, etc.) - ANSWERSfee schedule
What are key criteria for Medicare SNF coverage? - ANSWERS65+
