Hospital Application Regulatory Agencies

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Hi, Please help with E18-1. It is 10 multiple choice questions. Thank you.

Which of these duties might a financial manager in a healthcare organization be responsible for?     Prepare a year to date trial balance report for the annual tax filing     Conduct data analysis to report to the board of directors on new revenue sources     Complete a medical supply inventory and submit it to the purchasing department     Submitting invoicing to an insurance company for payment

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White Valley Presbyterian Hospital is a nonprofit initial care facility. For the hospital’s calendar year ending December 31, 2019 journal entries to record the transactions listed in 1 through 14. below Third-parties payers and direct-pay patients were billed $6,500,000 at the hospital's established billing rates The hospital determined that certain of its patients qualified for charity care and that it would not seek to collect $950,000 at established billing rates from direct-pay patients The hospital estimated contractual adjustments for the year of $1,600,000 The hospital originally estimated uncollectible amounts from direct-pay patients to be $250,000 (recall that original estimated uncollectible amounts reduce revenue; only estimates specific to an individual patient are reported as bad debt expense). The hospital received capitation premiums of $2,500,000. It estimated that the cost of providing this care was $1,800,000 The hospital received payments from third-party payers…

Transactions (a) through (e) took place in Stoney Heights Private Hospital during the year ending December 31, 2019.a. Gross revenues of $5,000,000 were earned for service toMedicare patients.b. Expected contractual adjustments with Medicare, a third-party payor, are $2,500,000; and an allowance for contractual adjustments account is used by Stoney Heights.c. Medicare cleared charges of $5,000,000 with payments of $2,160,000 and total contractual allowances of $2,840,000 ($2,500,000 + $340,000).d. Interim payments received fromMedicare amounted to $250,000.e. The hospital made a lump-sum payment back toMedicare of $100,000.1. Record the transactions in the general journal.2. Calculate the amount of net patient service revenues.3. What is the net cash flow from transactions withMedicare?4. What adjustments must be made at year-end to settle up with Medicare and properly report the net patient service revenues after this settlement?

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“Financing Health Care in a Time of Insurance Restructuring” Please respond to the following:Analyze the impact of financing the present U.S. health care system and the consequential ramifications for citizens. Rationalize the use of dwindling funds to support the burgeoning U.S. health difficulties in a time of other competitive national interests.Evaluate the levels of affordability and accessibility of different health services protocols that apply to working Americans and senior citizens under the U.S. health insurance umbrella. Rationalize the use of taxpayers funding for uninsured and economically challenged individuals.

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Instructions: Complete the following. Calculating Medicare Payments, Write-Offs, Limiting Charges, and Allowed Amounts: Calculate the following amounts for a nonphysician practitioner who bills Medicare: Submitted charge (based on provider's regular fee for office visit) $75 ● MPFS allowed amount $60 Nonphysician practitioner allowed amount (100 percent of MPFS allowed amount) $ . ● ● ● Instructions: Complete the following. Calculating Medicare Payments, Write-Offs, Limiting Charges, and Allowed Amounts: Calculate the following amounts for a participating provider who bills Medicare: Medicare payment (80 percent of the MPFS allowed amount) $ • Submitted charge (based on provider's regular fee for office visit) $75 Medicare physician fee schedule (MPFS) allowed amount $60 ● Coinsurance amount (paid by patient or supplemental insurance) $12 • Medicare payment (80 percent of the MPFS allowed amount) $ Medicare write-off (not to be paid by Medicare or the beneficiary) $ Instructions:…

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What is certificate of need regulation?     The process of granting "permission" for healthcare professionals to practice     None of these     State programs that require providers to submit annual budgets     The approval required by many states before a new healthcare facility can be constructed

Question: Describe the accounting treatment by hospitals and health care organizations for each of the following: (A) Charity Care (B) Bad Debts (C) Contractual Adjustments

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What would be the total expense for the Routine Care department (this is the addition of direct department expenses and allocated indirect costs). Revenues Department Facilities (support dept) Accounting - Billing (support dept) Total for Support Departments Routine Care (patient services) Intensive Care (patient services) Diagnostic Services (patient services) Total for Patient Service Departments Grant Total Select one or more: □ a. $11,448,000 O b. $3,750,000 c. $1,448,000 d. $912,750 $ $ $ S $ Expenses $ 1,500,000 $ 2,000,000 S 3,500,000 30,000,000 $ 25,000,000 $ 20,000,000 $ 75,000,000 S 75,000,000 $ 10,000,000 8,000,000 6,000,000 24,000,000 27,500,000 Space (square Feet) Number of Procedure 10,000 20,000 30,000 150,000 100,000 75,000 325,000 355,000 500,000 450,000 375,000 1,325,000 1,325,000

The following nominal accounts were extracted from the December 31, 2018, adjusted trial balance of Prospect Private Hospital:(attached)Prepare a statement of activities for the year ended December 31, 2018.

1. Briefly explain The Information Flow.  2. How can social media help a hospital manage the patient experience? 3. Briefly explain the difference between short-term and long-term assets. 4. What are the major differences in Government Sourcesand Managed Care Source? 5. Explain the two types of disbursements for services. 6. What is the difference between direct and indirect costs? Explain.