HCA460Week3Quiz

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Ashford University - California *

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460

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Health Science

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Apr 3, 2024

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Uploaded by RUTGUT1216

Score for this attempt: 29 out of 30 Submitted Mar 20 at 12:24pm This attempt took 49 minutes. Question 1 1 / 1 pts When healthcare finance is considered “a method of getting money in and out of the business,” the successful manager is able to achieve the most beneficial outcome by adjusting the inflow and outflow through which actions? Organizing Controlling Decision making Planning All of these are correct. Question 2 1 / 1 pts The healthcare industry is primarily a(n): manufacturing industry. service industry. electronic information industry. managed care industry. Question 3 1 / 1 pts Managers within healthcare organizations must have one of two views: either financial or process. True False Question 4 1 / 1 pts Much of the strategic planning for the organization is performed by managers with a financial view of the organization.

True False Question 5 1 / 1 pts The purpose of an organization chart is to indicate how responsibility is assigned to managers and to certain outside third parties. True False Question 6 1 / 1 pts The manager with a clinical viewpoint: may be responsible for service delivery. may have direct interaction with patients. is responsible for clinical outcomes. All of these are correct. IncorrectQuestion 7 0 / 1 pts Flowsheets are useful because they portray who is responsible for what piece of information as it exits the system. True False Question 8 1 / 1 pts Quarterly reports and statistics are called “interim reports” and generally contain raw data. True False

Question 9 1 / 1 pts Of the four segments that make a healthcare financial system work, which one reports about the effect occurring from an event? The original records The information system The accounting system The reporting system Question 10 1 / 1 pts Of the four segments that make a healthcare financial system work, which segment records evidence that an event has occurred? The accounting system The reporting system The original records The information system Question 11 1 / 1 pts When communicating financial information effectively to others, it is important to place extensive detail within the body of the report. True False Question 12 1 / 1 pts The chart of accounts: is a map that the financial manager must and should understand.

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can be infinitely customized for an organization’s purposes. has generic examples available for reference purposes. All of these are correct. Question 13 1 / 1 pts Documenting assumptions adds validity to the final projected statements, and an overall process of information gathering underlies the assumptions themselves. True False Question 14 1 / 1 pts Performance measures are an integral part of the strategic planning cycle and its process flow. Which of the following statements about such performance measures is correct? Performance measures can be reported as outcomes. Accountability is achieved by reporting performance measures as outcomes. A single action plan is linked to a series of performance measures. All of these are correct. Question 15 1 / 1 pts Mission, vision, and value statements can recognize legislation that restricts activities of the organization. True False Question 16 1 / 1 pts In regard to strategic planning by agencies in the U.S. federal government, which of the following statements is correct? Agency performance plans are required.

Agency performance reports are required. Requirements make the strategic plan operational because they hold the agencies accountable. Unmet goals may require a performance improvement plan. All of these are correct. Question 17 1 / 1 pts Which of the following is NOT a method by which the manager of a hospital unit may contribute to a strategic planning project? serving on a planning committee or task force. gathering and/or analyzing data for the project. writing the organization’s mission statement. suggesting criteria for performance measures. Question 18 1 / 1 pts Within the strategic planning cycle, stakeholders can be both internal and external. True False Question 19 1 / 1 pts Within the planning cycle and process flow, broad goals become narrower objectives, and narrower objectives become detailed vision statements. True False Question 20 1 / 1 pts

Projections are based on assumptions that are expected to exist. They reflect actions that are expected to occur. True False Question 21 1 / 1 pts The federal government’s planning requirements are important because they provide guidance through regulated concepts and a framework for strategic planning. True False Question 22 1 / 1 pts A vision statement is the same as a mission statement. True False Question 23 1 / 1 pts Situational analysis: reviews the organization’s internal operations. explores the organization’s external environment. analyzes the organization’s situation. All of these are correct. Question 24 1 / 1 pts ____ are based on assumptions that are expected to exist and reflect actions that are expected to occur. Additionally, they are considered to be prospective financial statements. Financial forecasts

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Annual report Proforma Budgets Question 25 1 / 1 pts The retrospective payment system pays: before the service is provided. during the service delivery (real time). after the service is provided. None of these is correct. Question 26 1 / 1 pts The Quality Payment Program (QPP) is comprised solely of the Merit-Based Incentive Payment System. True False Question 27 1 / 1 pts Stakeholders in a health delivery system include: clinicians. administrators. patients. All of these are correct. Question 28 1 / 1 pts

Individuals performing healthcare finance functions have different titles. A treasurer is responsible for a higher level of activity, including assessing the organization’s financial liquidity. True False Question 29 1 / 1 pts The Medicare Access and Children’s Health Insurance Program (CHIP) Reauthorization Act (MACRA) put an end to the Sustainable Growth Rate (SGR), which was used by CMS to control spending by Medicare on physician services. True False Question 30 1 / 1 pts Some of the elements that a successful health system needs to function properly include: evidence-based policies. adequate funding. evidence-based policies and adequate funding. None of these is correct.

HCA460Week3Quiz

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