(TCO 4) Which of the following is part of a statistics budget? (Points : 5)

HSM 340 Health Services Finance Week 4 Midterm Answers
  1. (TCO 4) Which of the following is part of a statistics budget? (Points : 5)
  2. (TCO 4) Which budgetary issue causes the most strife in all areas of a health care organization? (Points : 5)
  3. (TCO 4) Effectiveness is a relationship between: (Points : 5)
  4. (TCO 3) Estimate the total variable cost (i.e., including both routine and ancillary) per MSDRG 505 using the departmental cost/charge ratios and variable cost percentages. (Your answer might be slightly different due to rounding. Pick the closest.) (Points : 5)
  5. TCO 3) Your controller has told you that the marginal profit of DRG 209 (major joint procedure) for a Medicare patient exceeds the marginal profit for an average charge patient. Why might this occur? (Points : 5)
  6.  (TCO 2) A statement that reports the financial position (assets, liabilities, and stockholders' equity) of an accounting entity at a point in time is called a(an): (Points : 5)
  7. (TCO 2) Which of the following is the BEST example of a financial metric? (Points : 5)
  8. (TCO 4) Based on the below information, what dollar effect did the increased admission rate have on cost?
  9. TCO 4) Based on the information below, what rate must be set to generate the required $80,000 in profit in the preceding example?
  10. (TCO 4) What is the amount of variance that is attributed to the change in labor productivity?
  11. (TCO 2) How are revenues and expenses defined under accrual accounting? (Points : 5)
  12. (TCO 2) What are the double-entry accounting system and the duality concept? How are they related? (Points : 5)