1. DeVry-University HSM 340 Units Quiz
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HSM 340 UNIT2 QUIZ
1. The headingof every financial statementshouldcontainthe:
2. Two majormethodsof assetvaluationare:
3. The _____ is a way fororganizationstoimprove the collectionandcommunicationof financial
and operatinginformation.
4. What shouldbe a firm'sprimarylong-termfinancial objective?
5. How are revenuesandexpensesdefinedunderaccrual accounting?
6. What isan audit(inthe contextof financial accounting)?
7. The HC method,whichusesunadjustedhistorical costs,doesnottake intoaccountdepreciation
expenses, purchasingpower,andunrealizedgainsinreplacementvalue.Despite these weaknessesasa
financial reportingmethod,the HCmethodisusedmore frequentlyforaccountingpurposesthanother
methods,suchas the HC-GPL,CV,and CV-GPLmethods.Whyisthis so?
8. What isthe basicaccountingequation?
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The-heading-of-ev-44163
2. HSM 340 UNIT3 QUIZ
1. From a hospital'sperspective,whatismostlikelytobe the highestriskarrangementwitha
payer?
2. To maximize the amountof profitrealizedfromarate increase,chargesshouldbe increased
mostin departmentswith:
3. Assume thatthe clinicusedthe price that theyneedtoexactlybreakevenat10,000 shots.
Fewerpeople thanexpectedshowedupandpurchasedthe flushot.The clinicwould:
4. Whichof the followingisthe firststepinanybudgetaryprocess?
5. As the newadministratorforahospital,explainindetail toyourstaff andboardof directorsthe
three mainphasesof the costingprocess.
6. Your hospital hasbeenapproachedbya majorHMO to performall theirMS-DRG470 cases
(majorjointprocedures).Theyhave offeredaflatprice of $10,000 percase.You have reviewedyour
chargesfor MS-DRG 470 duringthe lastyear and foundthe followingprofile:
Average Charge$15,000
Average LOS 5 Days
Routine Charge $3,600 Cost/Charge 0.80 Variable Cost% 60
OperatingRoom 2,657 0.80 80
Anesthesiology 293 0.80 80
Lab 1,035 0.70 30
Radiology 345 0.75 50
Medical Supplies 4,524 0.50 90
Pharmacy 1,230 0.50 90
OtherAncillary 1,316 0.80 60
Total Ancillary $11,400 0.75 50
3. Estimate the variable costperMS-DRG 470 usingthe departmental cost/charge ratiosandvariable cost
percentages.
7. What isthe break-evenequationanddiscussthe break-evenequation?
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From-a-hospital-s-p-44166
HSM 340 UNIT4 QUIZ
1. Whichof the followingispartof a statisticsbudget?
2. Whichbudgetaryissue causesthe moststrife inall areasof a healthcare organization?
Decidingwhethertouse a fixedorflexiblebudget
3. Because pricesare oftenfixedinthe healthcare industry,itisincreasinglyimportantto:
4. What isthe mainreasonthat relative valueunits(RVUs) oftenare usedinhealthcare?
Notall standardunitsshowupin a standardtreatmentprotocol.
5. You increasedratesby10 percentacrossall servicesandprofitsdecreasedby5 percent.Cost
perunitremainedconstant.What couldaccount for thischange?
6. A statementthatreportsinflowsandoutflowsof cashduringthe accountingperiodinthe
categoriesof operations,investing,andfinancing,iscalleda(an):
7. The _____ is a way fororganizationstoimprove the collectionandcommunicationof financial
and operatinginformation.
8. The _____ is a way fororganizationstoimprove the collectionandcommunicationof financial
and operatinginformation.
9. Formulate youranswerbasedonthe below information.Costspercase increasedto$4,900
froma budgetedvalue of $4,750. Thisincreasedactual total costs bywhat amount?
10. Your hospital hasbeenapproachedbya majorHMO to performall theirMS-DRG470 cases
(majorjointprocedures).Theyhave offeredaflatprice of $10,000 percase.You have reviewedyour
chargesfor MS-DRG 470 duringthe lastyear and foundthe followingprofile:
4. Average Charge$15,000
Average LOS 5 Days
Routine Charge $3,600 Cost/Charge 0.80 Variable Cost% 60
OperatingRoom 2,657 0.80 80
Anesthesiology 293 0.80 80
Lab 1,035 0.70 30
Radiology 345 0.75 50
Medical Supplies 4,524 0.50 90
Pharmacy 1,230 0.50 90
OtherAncillary 1,316 0.80 60
Total Ancillary $11,400 0.75 50
Estimate the variable costperMS-DRG 470 usingthe departmental cost/charge ratiosandvariable cost
percentages.
What isthe amountof variance that isattributedtothe difference betweenthe budgetedandactual
wage rate perhour?
Use the followingdatatocalculate the variances.
The followinginformationhasbeenpreparedfor ahome healthagency.
Budget Actual
Wage Rate per Hour $16.00 $17.00
FixedHours 320 320
Variable HoursperRelative
Value Unit(RVU) 1.0 1.1
Relative ValueUnits(RVUs) 1,000 1,200
Total Labor Hours 1,320 1,640
5. Labor Costs $21,120 $27,880
Cost perRVU $21.12 $23.23
Budgetedcostsat actual volume wouldbe $25,344 ($21.12 × 1,200), andthe total variance tobe
explainedis$2,536 Unfavorable ($27,880 - $25,344). Be sure to specifywhetherthe variance is
favorable orunfavorable.
11. What are the majorreasonsfor accrual accounting?
12. What isan accountingentity?
13. Is profitmaximizationthe same thingasshareholderwealthmaximization?
14. What isthe basicaccountingequation?
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Which-of-the-follow-44169
HSM 340 WEEK 7 QUIZ
1. Question: (TCO7) Coordinationof benefitsrefers to:
Question2. Question: (TCO7) Whichof the followingisnota factor promotingthe growthof
IntegratedDeliverySystems:
Question3. Question: (TCO7) A medical groupincludesaprovisioninitscontractwithan
HMO to receive largerPMPMpaymentsif the HMO membersare chronicallyill.Thistype of provisionis
referredtoas a:
Question4. Question: (TCO7) The followingreasonsare goodmotivesformergersexcept:
6. Question5. Question: (TCO7) A nursinghome contracts withan HMO for skillednursingcare
at $2.00 PMPM. If costsare expectedtoaverage $120 perday, whatis the maximumutilizationof days
per1,000 membersthatthe nursinghome can experience before itbeginstolose money?
Question6. Question: (TCO7) Anuninsuredpatient receivesserviceswithchargesof $5,000
froma hospital.The hospital staff billsthe patient$1,000 and records$4,000 as charity care.If the
hospital'sratioof cost to chargesis 50%, whatamountwouldthe hospital recognize ascharitycare in
Schedule Hof IRS Form 990?
Question7. Question: (TCO7) How do a highpercentage of Medicaidpatientsinfluence a
hospital'sprices?
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Coordination-o-46864
HSM 340 WEEK 2 Quiz
1. Question: A statementthatreportsinflowsandoutflowsof cashduringthe accounting
periodinthe categoriesof operations,investing,andfinancing,iscalleda(an):
Question2.Two majormethodsof assetvaluationare:
Question3._____ is the most importantfinancial metrictoreview todetermine long-termfinancial
viability.
7. Question4.What shouldbe a firm'sprimarylong-termfinancialobjective?
Question5 What are the major reasonsforaccrual accounting?
Question6.What is an audit(inthe contextof financial accounting)?
Question7The HC method,whichusesunadjustedhistorical costs,doesnottake intoaccount
depreciationexpenses,purchasingpower,andunrealizedgainsinreplacementvalue.Despitethese
weaknessesasa financial reportingmethod,the HCmethodisusedmore frequentlyforaccounting
purposesthanothermethods,suchasthe HC-GPL,CV,and CV-GPLmethods.Whyisthisso?
Question8.List anddescribe the three categoriesof netassets.
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statement-that-reports-57235
