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Describe the staffing competencies needed for hiring team members in the back-end revenue cycle of a healthcare organization

Discuss how cost accounting can be utilized to support healthcare organizational strategic decisions and goals related to departments, facilities, and services.

How can cost accounting be utilized to support healthcare organizational strategic decisions and goals related to departments, facilities, and services.

Standard costs are divided into which of the following components? A. price standard and quantity standard B. quality standard and quantity standard C. variance standard and quantity standard D. materials standard and labor standard   Which of the following activity bases would be the most appropriate for food costs of a hospital? A. how many MRI's are taken B. number of patients who stay in the hospital C. quantity of prescriptions filled D. number of nurses scheduled to work   To calculate income from operations, total service department charges are A. subtracted from operating expenses B. subtracted from income from operations before service department charges C. subtracted from gross profit margin D. added to income from operations before service department charges

Describe the importance of Revenue Cycle Management and the impact it can have on the healthcare organization

Create a cross volume profit chart. Select an item or product used in an healthcare organization and describe how you would calculate the break - even point. Describe why this break - even information is useful.

How does price transparency impact the role of a manager / administrators in a healthcare organization

How does having an effective payment model impact the role of a manager / administrators in a healthcare organization .

East Alabama Medical Center uses nonfinancial performance measures to track the following objectives: • Maintain and improve the quality of clinical services. • Improve patient service. • Enhance employee recruitment and retention. (a) Link each of these objectives to one of the four balanced scorecard perspectives. Objective   Perspective Maintain and improve the quality of clinical services    FinancialLearning & growthInternal business processesCustomer Improve patient service    Learning & growthInternal business processesFinancialCustomer Enhance employee recruitment and retention    Learning & growthCustomerInternal business processesFinancial (b) Identify where on a balanced scorecard you would most likely find the following metrics: Metric   Perspective • Patient satisfaction score    Internal business processesFinancialCustomerLearning & growth • Number of medication errors    Internal business processesLearning…

Cost Drivers for Support Department Allocations For each of the following support departments, select the cost driver listed that is most appropriate for allocating support department costs to responsible units. Your answer should include the number of the cost driver only. Cost drivers to choose from: Number of conference attendees Number of computers Number of employees trained Number of cell phone minutes used Number of purchase requisitions Number of sales invoices Number of payroll checks Number of travel claims Support Department Cost Driver a.  Accounts Receivable   b.  Central Purchasing   c.  Computer Support   d.  Conferences   e.  Employee Travel   f.  Payroll Accounting   g.  Telecommunications   h.  Training

PRINCIPLE OF HEALTHCARE FINANCE

Discuss how allocation of customer-related overhead cost can lead to better decision making within firms with reference to the case below. ‘An insurance company, A-Insure Limited, decided to use CPA to identify profitable and non-profitable customers after it grew concerned about the poor financial performance of one of its policy options. A-Insure collected customer data through original policy proposal forms which were stored electronically in a customer database. It was able to conduct a complex cross correlation between known cost drivers and the demographic and other characteristics of policy holders. The cost drivers were: • commission payments to financial advisers who sold the policy • early surrender of the policy by the policy holder • changing of bank details and consequent chasing of missed premiums • responding to customer queries. The analysis identified that the policy was unprofitable when sold to recently retired clients but was profitable when sold to other client…

expert of general account answer

Which option is the most effective for companies and employees: a flexible spending account (FSA) or a health savings accounts (HSAs)

how and why hospitals use Activity-based Costing?

The following list gives a number of measures associated with the Balanced Scorecard:a. Number of new customersb. Percentage of customer complaints resolved with one contactc. Unit product costd. Cost per distribution channele. Suggestions per employeef. Warranty repair costsg. Consumer satisfaction (from surveys)h. Cycle time for solving a customer problemi. Strategic job coverage ratioj. On-time delivery percentagek. Percentage of revenues from new productsRequired:1. Classify each performance measure as belonging to one of the following perspectives:financial, customer, internal business process, or learning and growth.2. Suggest an additional measure for each of the four perspectives.

The decision-making authority assigned to managers within the different responsibility centers (cost, profit and investment) will differ based on the type of center because the role of management’s responsibilities also differs. Therefore, the accounting information required for planning, control, and performance evaluation differs according to the nature of these responsibilities. In 400-600 words address the following: Distinguish among a cost center, a profit center, and an investment center. Provide an example of each for a multi-hospital corporation. What are some of the uses that management may make of accounting information about individual responsibility centers of the business?