DLM(ASCP) EXAM 2024-2025 ACTUAL EXAM 230 REAL EXAM QUESTIO
AND CORRECT DETAILED ANSWERS WITH RATIONALES|AGRADE
Study online at https://quizlet.com/_g237ep
1. Project Vol- based on expert opinion, stats, historical data, shifts
umes (forecast- in patient mix, changes in medical staff composition,
ing stage) changes in inflation/reimbursement ratws, expansion/cut-
backs, population fluctuations based on economy
2. Steps to creating 1. project volumes
a budget 2. convert volumes to revenue
3. convert volumes into expense requirements
4. Adjust revenue/ expenses as necessary to meet budget
margin
3. gross revenue Rates x Production Unit (Billable test volume)
4. Expenses salaries/wages, reference service, instrument lease,
maintenance contracts, education/travel
5. Financial State- convey the financial status of an organization
ments 4 main types - income statement, balance sheet state-
ment of changes in equity and statement of cash flows.
6. income state- summarizes the operations of an organization with a fo-
ment cus on its revenues, expenses, and profitability. contains
operational results over a period of time.
7. depreciation noncash charge against earnings on income statement
that reflect the "wear and tear" on a business' fixed assets
(property and equipment). loss of value
8. salvage value amount received when final disposition occurs at end of
the asset's useful life.
9. annual deprecia- (initial cost - salvage value)/ useful life
tion
10. Profit net income -expense
11. cashflow net income + depreciation
12.
, DLM(ASCP) EXAM 2024-2025 ACTUAL EXAM 230 REAL EXAM QUESTIO
AND CORRECT DETAILED ANSWERS WITH RATIONALES|AGRADE
Study online at https://quizlet.com/_g237ep
Total Profit Mar- Net income divided by total revenues. It measures the
gin amount of total profit per dollar of total revenues.
13. fixed costs cost not related to the volume of services delivered (ex.
facilities cost, lab admin, instrument leases, maintenance
contracts)
14. variable cost directly related to the volume of services delivered (ex.
supplies, labor costs)
15. Profit Analysis technique use to analyze the effects of volume changes
on profit. can also be used to analyze effects of volume
changes on costs.
16. Total Costs fixed costs + variable costs
Variable costs = variable cost rate x volume
17. contribution difference between per unit revenue and per unit variable
margin cost. gives the amount left to cover the fixed costs. after
fixed costs are covered what's left contributes to the profit.
18. accounting Volume needed to produce zero profit. Revenues cover all
breakeven accounting costs.
Total Revenue (cost x volume) - Total Variable (variable
cost rate x volume) - fixed costs = $0
19. economic occurs when all accounting costs plus a profit target are
breakeven covered
total revenue - total variable cost- fixed cost = profit
20. Surcharge/Cost used for reference/send out testing. Determine cost of do-
Plus ing a procedure then add markup factor to get appropriate
price.
21. weight value ba- each test performed is assigned a weight based on cost
sis of performing the test in relation to the procedure.
22. patient day fac- the number of patients in a hospital on a given day.
tor (average patient day/ daily census for the year) x 365
, DLM(ASCP) EXAM 2024-2025 ACTUAL EXAM 230 REAL EXAM QUESTIO
AND CORRECT DETAILED ANSWERS WITH RATIONALES|AGRADE
Study online at https://quizlet.com/_g237ep
23. tests per patient test volume/ patient days
days
24. revenue per test gross revenue/test volume
25. direct costs test-specific costs (Variable)
examples - supplies, instrumentation, reagents, tech time
26. indirect cost remain constant
examples - lab admin, medical records, house keeping,
utilities, etc. (fixed/semi-variable)
27. unit costs total direct + indirect expenses
28. Employment cy- covers all stages in the process of employing staff:
cle 1. recruitment and acquisition costs (pre-employment
screen)
2. training/developmental costs (ongoing)
3. productive/operational periods
4. termination/separation of employee from institution
costs
29. analyze labor institutional labor cost evaluation (employment cycle)
costs technical evaluation of labor cost - assign labor costs
to production activities that generate expenses. helps
manager identify where efforts are being expended and
productivity
accounting and budgeting labor analysis - helps moni-
tor staffing levels, productivity and management perfor-
mance against budget objectives
30. preanalytical specimen collection, prep, instrument
time
31. analytical time performing/resulting tests
32. post analytical reporting and routine maintenance
time
33. total hours productive hours + nonproductive hours
AND CORRECT DETAILED ANSWERS WITH RATIONALES|AGRADE
Study online at https://quizlet.com/_g237ep
1. Project Vol- based on expert opinion, stats, historical data, shifts
umes (forecast- in patient mix, changes in medical staff composition,
ing stage) changes in inflation/reimbursement ratws, expansion/cut-
backs, population fluctuations based on economy
2. Steps to creating 1. project volumes
a budget 2. convert volumes to revenue
3. convert volumes into expense requirements
4. Adjust revenue/ expenses as necessary to meet budget
margin
3. gross revenue Rates x Production Unit (Billable test volume)
4. Expenses salaries/wages, reference service, instrument lease,
maintenance contracts, education/travel
5. Financial State- convey the financial status of an organization
ments 4 main types - income statement, balance sheet state-
ment of changes in equity and statement of cash flows.
6. income state- summarizes the operations of an organization with a fo-
ment cus on its revenues, expenses, and profitability. contains
operational results over a period of time.
7. depreciation noncash charge against earnings on income statement
that reflect the "wear and tear" on a business' fixed assets
(property and equipment). loss of value
8. salvage value amount received when final disposition occurs at end of
the asset's useful life.
9. annual deprecia- (initial cost - salvage value)/ useful life
tion
10. Profit net income -expense
11. cashflow net income + depreciation
12.
, DLM(ASCP) EXAM 2024-2025 ACTUAL EXAM 230 REAL EXAM QUESTIO
AND CORRECT DETAILED ANSWERS WITH RATIONALES|AGRADE
Study online at https://quizlet.com/_g237ep
Total Profit Mar- Net income divided by total revenues. It measures the
gin amount of total profit per dollar of total revenues.
13. fixed costs cost not related to the volume of services delivered (ex.
facilities cost, lab admin, instrument leases, maintenance
contracts)
14. variable cost directly related to the volume of services delivered (ex.
supplies, labor costs)
15. Profit Analysis technique use to analyze the effects of volume changes
on profit. can also be used to analyze effects of volume
changes on costs.
16. Total Costs fixed costs + variable costs
Variable costs = variable cost rate x volume
17. contribution difference between per unit revenue and per unit variable
margin cost. gives the amount left to cover the fixed costs. after
fixed costs are covered what's left contributes to the profit.
18. accounting Volume needed to produce zero profit. Revenues cover all
breakeven accounting costs.
Total Revenue (cost x volume) - Total Variable (variable
cost rate x volume) - fixed costs = $0
19. economic occurs when all accounting costs plus a profit target are
breakeven covered
total revenue - total variable cost- fixed cost = profit
20. Surcharge/Cost used for reference/send out testing. Determine cost of do-
Plus ing a procedure then add markup factor to get appropriate
price.
21. weight value ba- each test performed is assigned a weight based on cost
sis of performing the test in relation to the procedure.
22. patient day fac- the number of patients in a hospital on a given day.
tor (average patient day/ daily census for the year) x 365
, DLM(ASCP) EXAM 2024-2025 ACTUAL EXAM 230 REAL EXAM QUESTIO
AND CORRECT DETAILED ANSWERS WITH RATIONALES|AGRADE
Study online at https://quizlet.com/_g237ep
23. tests per patient test volume/ patient days
days
24. revenue per test gross revenue/test volume
25. direct costs test-specific costs (Variable)
examples - supplies, instrumentation, reagents, tech time
26. indirect cost remain constant
examples - lab admin, medical records, house keeping,
utilities, etc. (fixed/semi-variable)
27. unit costs total direct + indirect expenses
28. Employment cy- covers all stages in the process of employing staff:
cle 1. recruitment and acquisition costs (pre-employment
screen)
2. training/developmental costs (ongoing)
3. productive/operational periods
4. termination/separation of employee from institution
costs
29. analyze labor institutional labor cost evaluation (employment cycle)
costs technical evaluation of labor cost - assign labor costs
to production activities that generate expenses. helps
manager identify where efforts are being expended and
productivity
accounting and budgeting labor analysis - helps moni-
tor staffing levels, productivity and management perfor-
mance against budget objectives
30. preanalytical specimen collection, prep, instrument
time
31. analytical time performing/resulting tests
32. post analytical reporting and routine maintenance
time
33. total hours productive hours + nonproductive hours
