BUSI 311 Quiz 5 Financing and Managing Costs in Healthcare solutions complete answers

BUSI 311 Quiz 5 Financing and Managing Costs in Healthcare solutions complete answers 

 

Using working capital to enhance "good will" toward the health care organization includes all except:

 

Physician reimbursement through Medicare will eventually be:

 

Charity care is:

 

Which of the following is NOT a characteristic of not-for-profit health care organizations?

 

Medicaid provides coverage for low-income individuals for all of the following, EXCEPT:



Quality of care is likely to be high for those covered by:



The CHIP program, developed under the leadership of former Secretary of State Clinton, provides for:



The following are all public insurance programs EXCEPT:



Setting prices in health care organizations involves consideration of all the following EXCEPT:

 

A high-deductible health plan with a savings option represents a form of consumer driven health plan that:

 

Quality is likely to be high for those covered by:

 

The growth in health insurance in the U.S. came about as a result of all of the following EXCEPT:

 

The primary reasons why materials management is so important to health care organizations include all of the following EXCEPT:

 

Which of the following indicates the need for more health care workers in the future?
Which of the following is an example of an "employee retention" function?
Incentive compensation is believed to have what effect on employee performance?
Performance appraisals are useful to
Not all HR functions are carried out exclusively by HR staff. Which of the following would be carried out by line managers?
Flexible benefits are helpful to employees because:
Recent information from the literature concerning employee perceptions suggests that:
Job analysis is necessary to:
A team is:
One of the ways to engage medical staff is to:
Some of the benefits of effective healthcare team are:
Which of the following is NOT correct about Cross Functional Teams (CFTs)?
Teamwork is taught in:
Participation in the VHA Medical Team Training program was associated with:
To convince higher level management that teamwork is worth the effort, one should point to:
Nursing turnover costs are about:
Select all the terms that can be used interchangeably with cultural competency.
Concerns with the term cultural competence include
The National Standards on Culturally and Linguistically Appropriate Services provide for:
A hospital can demonstrate inclusivity by community engagement through:
Public policies to address health disparities could include:
Vulnerable populations are more exposed to risks from:
Benefits of a diverse health care workforce include
By 2050, more than half the population of the U.S. will be comprised of minorities.
Which of the following is not a primary source of ethics?
What are the main sources of American law?
What are some of the ways in which healthcare organizations protect the rights of their patients?
A wrong against society as a whole, even if a particular individual is harmed, is considered a violation of which type of law?
Contract violations are generally considered to be part of which type of law?
Which of these elements is NOT necessary for a contract to be binding?
A wrongful act against a person or organization is considered what type of violation?
For a health provider's action to be considered negligent, which of the following factors is NOT necessary?
The investigative and enforcement authority to deal with fraud and abuse violations was granted to the Department of Health and Human Services (DHHS) through?
Examples of healthcare fraud and abuse include?
Violations of the Criminal Disclosure Provision of the Social Security Act include penalties of
An example of a Stark Law violation is:
Violations of the Emergency Medical Treatment and Active Labor Act (EMTALA) include all of the following, except:
The Anti-Kickback Statutes
Seven Essential Elements of An Effective Compliance Program include:
ORT is an acronym that stands for
Many of those who are uninsured:
A. Are workers who are employed in industries that do not provide health insurance
B. Do not have access to routine health care
C. Are American citizens
D. All of the above
Medicaid provides coverage for low-income individuals who
A. Receive Temporary Aid to Needy Families (TANF) assistance
B. Receive Supplemental Security Income (SSI) assistance
C. Are pregnant
D. Are elderly
E. All of the above
True or False? The majority of the uninsured population is comprised of adults aged 35 and older.
True
False
The Medicare Prescription Drug, Improvement & Modernization Act of 2003 includes provisions to:
A. Fund rural hospitals
B. Create Part D of Medicare
C. Increase prevention benefits for seniors
D. All of the above
Which type of managed care offers patients flexibility in accessing their physician of choice?
A. Preferred Provider Organization
B. Point of Service Plan
C. Health Maintenance Organization
D. All of the above
E. A and B above
CHIP is a program that provides for
A. Children covered by Medicare
B. All children
C. Children covered by Medicaid
D. Children in low income families who would not typically qualify under Medicaid
Which type of HMO offers the most flexibility for participating physicians?
A. Closed-panel HMO
B. Independent Practice Association
C. Open-panel HMO
D. None of the above
Cost sharing is required of those covered by:
A. HMOs
B. PPOs
C. Medicare
D. Medicaid
E. All of the above
The primary reason that healthcare managers should be concerned about healthcare financing and health insurance is:
A. It's the right thing to do
B. It's important to the organizations' bottom line and to organizational success
C. Employees are concerned about the increases in their share of premiums and other cost sharing
D. All of the above
Medicaid spending increases are the result of:
A. Expansion of services of many types
B. Expansion of eligibility to include all children
C. Rising unemployment and increases in the uninsured
D. A and C above
E. All of the above
Medicare includes coverage of all of the following EXCEPT:
A. Presceiption drugs under Part D
B. Mental health care under Part E
C. Inpatient hospital care under Part A
D. Physician services and outpatient care under Part B
Access to the care of specialist physicians is limited in which type of health plan?
A. Point of Service Plan
B. Conventional Plan
C. Health Maintenance Organization
D. Preferred Provider Organization
E. All of the above
Who bears the costs of providing care to the uninsured?
A. The uninsured
B. Philanthropic contributions
C. Local governments
D. Everyone, including all of the above
In purchasing health insurance, which of the following is NOT typically a consideration?
A. Liability
B. Deductibles and copays
C. Benefit package
D. Provider Choice
A. Preferred Provider Plans
B. Health Maintenance Organizations
C. Indemnity Plans
D. All of the above
Problems associated with the care of active military personnel and retirees include all of the following EXCEPT:
A. Access to care in rural areas
B. Access to medical centers in major metropolitan areas
C. Access to care for reservists and other temporary personnel
D. None of the above
The growth in health insurance in the U.S. came about as a result of:
A. The rising cost of health care
B. The increased government role in providing access to care
C. The involvement of unions and collective bargaining D. All of the above
A high deductible health plan with a savings option represents a form of consumer driven health plan that:
A. Encourages the purchaser to be more aware of the cost of care
B. Encourages the consumer to use preventive types of health care
C. Is usually lower cost than other types of plans
D. Requires the consumer to pay a large amount out-of-pocket before the plan kicks in
E. All of the above
Which of the following is characteristic of the way the uninsured utilize the health care system?
A. They delay seeking care, eventually ending up in emergency rooms
B. They can afford to pay for care out-of-pocket
C. They utilize preventive care to maintain wellness
D. They have a primary care physician
The Patient Protection and Affordable Care Act includes provisions for the following:
A. Improving quality.
B. Expanding Medicaid.
C. Allowing greater access to long-term care insurance coverage.
D. Providing access to health care for all Americans.
E. All of the above.
E. All of the above
A high deductible health plan with a savings option represents a form of consumer driven health plan that
of specialist physicians is limited in which type of health plan?
CHIP is a program that provides for
Cost sharing is required of those covered by:
Efforts to control the costs of Medicare have been undertaken via legislation mandated to create prospective payment systems for
In purchasing health insurance, which of the following is NOT typically a consideration?
Individuals who have coverage under the Medicare Program include:
Many of those who are uninsured:
Medicaid provides coverage for low-income individuals who
Medicaid spending increases are the result of:
Medicare includes coverage of all of the following EXCEPT:
Medicare spending has increased as a result of:
Private health insurance coverage includes the following types:
Problems associated with the care of active military personnel and retirees include all of the following EXCEPT:
The growth in health insurance in the U.S. came about as a result of:
The Medicare Prescription Drug, Improvement & Modernization Act of 2003 includes provisions to:
The Patient Protection and Affordable Care Act includes provisions for the following:
The primary reason that healthcare managers should be concerned about healthcare financing and health insurance is:
The TRICARE military healthcare system provides coverage for
Which of the following is characteristic of the way the uninsured utilize the health care system?
Which type of HMO offers the most flexibility for participating physicians?
Which type of managed care offers patients flexibility in accessing their physician of choice?
Who bears the costs of providing care to the uninsured?
True or False? Catastrophic health insurance coverage is the most commonly purchased type of health insurance today
True or False? Changes in the extent to which individuals have health insurance coverage in times of economic downturn tend to be absorbed by private health plans, rather than public ones.
True or False? Comprehensive health insurance coverage typically includes hospital coverage, but not physician services.
True or False? Elderly Medicaid beneficiaries account for the majority of the program's spending.
True or False? Enrollment in conventional indemnity health insurance plans has increased in the past 15 years.
True or False? Funding for the Medicare Program is derived only from federal taxes.
True or False? Health insurance policies have not used lifetime limits to control total exposure for the costs of care.
True or False? Medicaid and Medicare are private insurance programs administered by the federal government
True or False? Medicaid is a federally-mandated program that is administered by the states.
True or False? Medicaid programs are uniform across the states.
True or False? Public sources of funding accounted for slightly less than half of all expenditures for health care in 2008.
True or False? Risk is a concept in health insurance that involves a group sharing the costs of losses incurred by the members of the insurance pool.
True or False? The Centers for Medicare & Medicaid Services project that health spending will be 30% of GDP by 2012.
True or False? The health plans provided for under Part C of Medicare are sometimes referred to as Medicare Advantage (MA) plans.
True or False? The majority of the uninsured population is comprised of adults aged 35 and older.
True or False? The Patient Protection and Affordable Care Act of 2010 calls for changes that will impact insurers, businesses, consumers, and healthcare providers.
True or False? The VA has programs that cover children with certain birth defects born to female Vietnam Veterans.
True or False? The Veterans Health Administration is the largest health care system in the world.
 
A high deductible health plan with a savings option represents a form of consumer driven health plan that
Access to the care of specialist physicians is limited in which type of health plan?
CHIP is a program that provides for
Cost sharing is required of those covered by:
Efforts to control the costs of Medicare have been undertaken via legislation mandated to create prospective payment systems for
In purchasing health insurance, which of the following is NOT typically a consideration?
Individuals who have coverage under the Medicare Program include:
Many of those who are uninsured:
Medicaid provides coverage for low-income individuals who
Medicaid spending increases are the result of:
Medicare includes coverage of all of the following EXCEPT:
Medicare spending has increased as a result of:
Private health insurance coverage includes the following types:
Problems associated with the care of active military personnel and retirees include all of the following EXCEPT:
The growth in health insurance in the U.S. came about as a result of:
The Medicare Prescription Drug, Improvement & Modernization Act of 2003 includes provisions to:
The Patient Protection and Affordable Care Act includes provisions for the following:
The primary reason that healthcare managers should be concerned about healthcare financing and health insurance is:
The TRICARE military healthcare system provides coverage for
Which of the following is characteristic of the way the uninsured utilize the health care system?
Which type of HMO offers the most flexibility for participating physicians?
Which type of managed care offers patients flexibility in accessing their physician of choice?
Who bears the costs of providing care to the uninsured?
 

Medicaid provides coverage for low-income individuals who:

 

The determination of the total cost of producing a specified health care service through assigning costs into revenue-producing departments is referred to as:

 

Private health insurance coverage includes all of the following EXCEPT:

 

Question 1 The TRICARE military health care system provides coverage for

Question 2 Who bears the costs of providing care to the uninsured?

Question 3 The Medicare prospective payment system for reimbursing hospitals utilizes:

Question 4 The Patient Protection and Affordable Care Act includes provisions for the following:

Question 5 The Balanced Budget Act of 1997 implemented cost controls for Medicare expenditures in all of the following health care sectors EXCEPT:

Question 6 The difference between a hospital's charges for an inpatient stay in the facility and the amount the hospital has agreed to accept from the patient's insurance carrier is called:

Question 7 The commonly accepted method for valuing inventory that produces an inventory of newer items is referred to as:

Question 8 In the wake of health care reform, most health care executives believe that the new reform policies will:

Question 9 The type of budget that forecasts cash inflows and cash outflows for the next fiscal year is called the:

Question 10 The volume of production in units and sales of goods or services, where total costs equal total revenues, is called:

Question 11 In purchasing health insurance, which of the following is NOT typically a consideration?

Question 12 Current assets may include:

Question 13 Bad debt in health care finance is defined as:

Question 14 Efforts to control the costs of Medicare have been undertaken via legislation mandated to create prospective payment systems for:

Question 15 Medicare spending has increased as a result of:

Question 16 Capital budgets may include all of the following EXCEPT:

Question 17 Which of the following laws have had a major impact on social insurance in the U.S.?

Question 18 The primary reason that health care managers should be concerned about health care financing and health insurance is:

Question 19 Health care financial management involves:

Question 20 Primary sources of working capital include all of the following EXCEPT:

Question 21 Which of the following is NOT a possible outcome of the decision-making process in cost accounting in health care organizations?

Question 22 Accountable Care Organizations (ACOs) are built on the premise that:

Question 23 Using working capital to enhance "good will" toward the health care organization includes:

Question 24 CMI is an acronym that stands for:

Question 25 Which type of managed care plan offers patients flexibility in accessing their physician of choice?

Question 26 For-profit health care organizations are usually owned by:

Question 27 Unlike other organizations, health care organizations tend to generate very little immediate cash because of:

Question 28 CHIP is a program that provides for

Question 29 Charge setting is controlled by:

Question 30 Access to the care of specialist physicians is limited in which type of health plan?

 

Question 1 Access to the care of specialist physicians is limited in which type of health plan?

Question 2 Which type of HMO offers the most flexibility for participating physicians?

Question 3 The primary reasons why materials management is so important to healthcare organizations include all of the following except

Question 4 The commonly accepted method for valuing inventory that produces an inventory of newer items is referred to as

Question 5 The Medicare Prescription Drug, Improvement & Modernization Act of 2003 includes provisions to:

Question 6 The types of costs that change directly in relation to changes in volume are called

Question 7 The Medicare prospective payment system for reimbursing hospitals utilizes

Question 8 A high deductible health plan with a savings option represents a form of consumer driven health plan that:

Question 9 In the wake of health care reform, most health care executives believe that the new reform policies will:

Question 10 Private health insurance coverage includes the following types:

Question 11 The growth in health insurance in the U.S. came about as a result of:

Question 12 Using working capital to enhance "good will" toward the healthcare organization includes

Question 13 The volume of production in units and sales of goods or services, where total costs equal total revenues, is called

Question 14 Problems associated with the care of active military personnel and retirees include all of the following EXCEPT:

Question 15 The primary reason that healthcare managers should be concerned about healthcare financing and health insurance is:

Question 16 Bad debt in health care finance is defined as:

Question 17 The primary preparers of capital budget requests are the

Question 18 The difference between a hospital's charges for an inpatient stay in the facility and the amount the hospital has agreed to accept from the patient's insurance carrier is called

Question 19 Many of those who are uninsured:

Question 20 Medicaid provides coverage for low­income individuals who

Question 21 Which of the following is NOT a characteristic of not­for­profit healthcare organizations?

Question 22 Unlike other organizations, healthcare organizations tend to generate very little immediate cash because of

Question 23 Medicaid spending increases are the result of:

Question 24 The Patient Protection and Affordable Care Act includes provisions for the following:

Question 25 Efforts to control the costs of Medicare have been undertaken via legislation mandated to create prospective payment systems for

Question 26 Which of the following is characteristic of the way the uninsured utilize the health care system?

Question 27 In purchasing health insurance, which of the following is NOT typically a consideration?

Question 28 The primary goal of managing accounts receivable is to

Question 29 Current assets may include:

Question 30 The Balanced Budget Act of 1997 implemented cost controls for Medicare expenditures in all of the following healthcare sectors except

 

A high deductible health plan with a savings option represents a form of consumer driven health plan that
Access to the care of specialist physicians is limited in which type of health plan?
CHIP is a program that provides for
Cost sharing is required of those covered by:
Efforts to control the costs of Medicare have been undertaken via legislation mandated to create prospective payment systems for
In purchasing health insurance, which of the following is NOT typically a consideration?
Individuals who have coverage under the Medicare Program include:
Many of those who are uninsured:
Medicaid provides coverage for low-income individuals who
Medicaid spending increases are the result of:
Medicare includes coverage of all of the following EXCEPT:
Medicare spending has increased as a result of:
Private health insurance coverage includes the following types:
Problems associated with the care of active military personnel and retirees include all of the following EXCEPT:
The growth in health insurance in the U.S. came about as a result of:
The Medicare Prescription Drug, Improvement & Modernization Act of 2003 includes provisions to:
The Patient Protection and Affordable Care Act includes provisions for the following:
The primary reason that healthcare managers should be concerned about healthcare financing and health insurance is:
The TRICARE military healthcare system provides coverage for
Which of the following is characteristic of the way the uninsured utilize the health care system?
Which type of HMO offers the most flexibility for participating physicians?
Which type of managed care offers patients flexibility in accessing their physician of choice?
Who bears the costs of providing care to the uninsured?
 
The chief financial officer (CFO) of a hospital supervises all of the following officers except
A. The Independent Auditor
B. The Treasurer
C. The Controller
D. The Internal Auditor
The volume of production in units and sales of goods or services, where total costs equal total revenues, is called
A. Factoring receivables
B. Cash flow
C. The economic order quantity
D. The break-even point
Primary sources of working capital include all of the following except
A. Net income, or profits
B. Equipment
C. Inventory
D. Investments
The primary preparers of capital budget requests are the
A. CEO and CFO
B. Department managers
C. Facilities management staff
D. Accounting staff
The determination of the total cost of producing a specified healthcare service through assigning costs into revenue-producting departments is referred to as
A. Classifying costs
B. Assembling costs
C. Cost allocation
D. Activity-based costing
Setting prices in healthcare organizations involves consideration of all of the following except
A. The amount of current accounts receivable
B. Other competitors in the market
C. The perceived value of goods and services
D. Money actually spent
The difference between a hospital's charges for an inpatient stay in the facility and the amount the hospital has agreed to accept from the patient's insurance carrier is called
A. A contactual allowance
B. Uncompensated care
C. Capitation
D. Fee-for-service
The primary reasons why materials management is so important to healthcare organizations include all of the following except
A. Appropriate patient care
B. Improving the organization's profitability
C. Controlling costs of materials and inventory
D. Developing close relationships with vendors
The Balanced Budget Act of 1997 implemented cost controls for Medicare expenditures in all of the following healthcare sectors except
A. Skilled nursing facilities
B. Pharmaceutical companies
C. Home health agencies
D. Outpatient hospitals and clinics
Bad debt in health care finance is defined as:
A. billing for services rendered but no payment is received
B. debt that is owed by the health care organization
C. charity care provided by not-for profit organizations
D. patient care that is provided on a charity basis
In the wake of health care reform, most health care executives believe that the new reform policies will:
A. Have a negative financial impact on their facilities
B. Improve the bottom line of their organizations
C. Increase employee productivity
D. Not change the way that their finance departments are operated
The types of costs that change directly in relation to changes in volume are called
A. Indirect costs
B. Variable costs
C. Direct costs
D. Fixed costs
The type of budget that forecasts cash inflows and cash outflows for the next fiscal year is called the
A. Operating or cash budget
B. Capital budget
C. Statistics budget
D. Expense budget
Current assets may include:
A. Property
B. Accounts receivable
C. Cash on hand
D. A & C only
E. B & C only
The primary goal of managing accounts receivable is to
A. Reduce the collection period for payment for services
B. Collect revenue for investment opportunites
C. Generate "good will" for the organization
D. Increase the collateral for negotiating a line of credit with lenders
Capital budgets may include all of the following except
A. Information technology infrastructure
B. Net lending or borrowing needs of the organization
C. Land or facility acquisition
D. Recruitment of staff physicians
Health care financial management involves:
A. Oversight of day to day financial operations
B. Increasing revenues and decreasing costs
C. Planning the organizations long-range financial direction
D. None of the above
E. All of the above
CMI is an acronym that stands for:
A. Center for Mediation Issues
B. Centralized Management Inventory
C. Center for Medicare and Medicaid Innovation
D. Cost Management Industry
The commonly accepted method for valuing inventory that produces an inventory of newer items is referred to as
A. FIFO, or "first-in, first-out"
B. Weighted average
C. Specific identification
D. LIFO, or "last-in, last-out"
The Medicare prospective payment system for reimbursing hospitals utilizes
A. The RBRVS system
B. A "Cost Plus" charging system
C. DRGs
D. Per diem rates
 
True or False? Catastrophic health insurance coverage is the most commonly purchased type of health insurance today
True or False? Changes in the extent to which individuals have health insurance coverage in times of economic downturn tend to be absorbed by private health plans, rather than public ones.
True or False? Comprehensive health insurance coverage typically includes hospital coverage, but not physician services.
True or False? Elderly Medicaid beneficiaries account for the majority of the program's spending.
True or False? Enrollment in conventional indemnity health insurance plans has increased in the past 15 years.
True or False? Funding for the Medicare Program is derived only from federal taxes.
True or False? Health insurance policies have not used lifetime limits to control total exposure for the costs of care.
True or False? Medicaid and Medicare are private insurance programs administered by the federal government
True or False? Medicaid is a federally-mandated program that is administered by the states.
True or False? Medicaid programs are uniform across the states.
True or False? Public sources of funding accounted for slightly less than half of all expenditures for health care in 2008.
True or False? Risk is a concept in health insurance that involves a group sharing the costs of losses incurred by the members of the insurance pool.
True or False? The Centers for Medicare & Medicaid Services project that health spending will be 30% of GDP by 2012.
True or False? The health plans provided for under Part C of Medicare are sometimes referred to as Medicare Advantage (MA) plans.
True or False? The majority of the uninsured population is comprised of adults aged 35 and older.
True or False? The Patient Protection and Affordable Care Act of 2010 calls for changes that will impact insurers, businesses, consumers, and healthcare providers.
True or False? The VA has programs that cover children with certain birth defects born to female Vietnam Veterans.
True or False? The Veterans Health Administration is the largest health care system in the world.
The difference between a hospital's charges for an inpatient stay in the facility and the amount the hospital has agreed to accept from the patient's insurance carrier is called
Which of the following is NOT a possible outcome of the decision-making process in cost accounting in healthcare organizations?
The determination of the total cost of producing a specified healthcare service through assigning costs into revenue-producing departments is referred to as
The types of costs that change directly in relation to changes in volume are called
Private health insurance coverage includes the following types
The growth in health insurance in the U.S. came about as a result of:
In purchasing health insurance, which of the following is NOT typically a consideration?
Which type of HMO offers the most flexibility for participating physicians?
Which type of managed care offers patients flexibility in accessing their physician of choice?
Access to the care of specialist physicians is limited in which type of health plan?
Efforts to control the costs of Medicare have been undertaken via legislation mandated to create prospective payment systems for
The Medicare Prescription Drug, Improvement & Modernization Act of 2003 includes provisions to:
The chief financial officer (CFO) of a hospital supervises all of the following officers EXCEPT
The Medicare prospective payment system for reimbursing hospitals utilizes
Which of the following is NOT a characteristic of not-for-profit healthcare organizations?
The Balanced Budget Act of 1997 implemented cost controls for Medicare expenditures in all of the following healthcare sectors EXCEPT
The largest category of healthcare workers is:
Residency Training lasts from ___to ___, depending on the specialty.
Resident work hours have changed due to
Licensure is
Criminal Background Checks for nurses and physicians are
Board certification is:
CME is
Physician credentialing is: