PLEASE ANSWER ALL QUESTIONS27 .Budgeting:A. Sets targets and objectives established by managementB. Is intended to control expensesC. Defines how revenue will be earnedD. Sets the organization's "rules of the road" for operating28. Hospitals are currently paid less if a patient is discharged and readmitted within 30 days for a related diagnosis. This is an example of:A. Payment for service providedB. Payment for quality measurementC. Payment for coinsuranceD. Payment for deductible29. Which of the following is not an emerging payment model?A. Patient Centered Medical HomeB. ACOC. Bundled PaymentD. DRG30. Which of the following is NOT an incentive to provide more services?A. CapitationB. Charge-based reimbursementC. Per diemD. Per procedure31. The party ultimately responsible for payment for healthcare services is:A. MedicaidB. The insurerC. The patientD. The provider accounts receivable staff32. Population health management challenges clinicians to shift their business model to all of the following EXCEPT:A. From solo practitioner to collaborative, multi-disciplinary colleagueB. From treatment volume to preventative health care in a populationC. From fee-for-service to payment for quality outcomesD. From physician practice to entrepreneur33. When using the accrual basis of accounting, revenue is recognized:A. At the time of claim generationB. At the time of cash receiptC. At the time services are performedD. At the time of discharge34. A "line of credit" from a bank is:A. A financial partnering strategy to strengthen an entity's financial positionB. A strategy for strengthening an entity's credit ratingC. A strategy for access to additional funding to meet immediate cash needsD. A financial strategy for balancing specific line items in a budget35. A budget, in terms of a healthcare entity, is a:A. Set of benchmarksB. Reporting toolC. Financial toolD. Management tool36. The term "cost" in health care can mean all of the following EXCEPT:A. The amount a patient owesB. The amount paid on an invoice for a supplyC. The amount paid to employees for salariesD. The amount paid for a service

Budgeting: Budgeting is the process of putting together a strategy for how you will spend your…

Answered: 27 .Budgeting: A. Sets targets and…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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PLEASE ANSWER ALL QUESTIONS

27 .Budgeting:

A. Sets targets and objectives established by management
B. Is intended to control expenses
C. Defines how revenue will be earned
D. Sets the organization's "rules of the road" for operating

28. Hospitals are currently paid less if a patient is discharged and readmitted within 30 days for a related diagnosis. This is an example of:

A. Payment for service provided
B. Payment for quality measurement
C. Payment for coinsurance
D. Payment for deductible

29. Which of the following is not an emerging payment model?

A. Patient Centered Medical Home
B. ACO
C. Bundled Payment
D. DRG

30. Which of the following is NOT an incentive to provide more services?

A. Capitation
B. Charge-based reimbursement
C. Per diem
D. Per procedure

31. The party ultimately responsible for payment for healthcare services is:

A. Medicaid
B. The insurer
C. The patient
D. The provider accounts receivable staff

32. Population health management challenges clinicians to shift their business model to all of the following EXCEPT:

A. From solo practitioner to collaborative, multi-disciplinary colleague
B. From treatment volume to preventative health care in a population
C. From fee-for-service to payment for quality outcomes
D. From physician practice to entrepreneur

33. When using the accrual basis of accounting, revenue is recognized:

A. At the time of claim generation
B. At the time of cash receipt
C. At the time services are performed
D. At the time of discharge

34. A "line of credit" from a bank is:

A. A financial partnering strategy to strengthen an entity's financial position
B. A strategy for strengthening an entity's credit rating
C. A strategy for access to additional funding to meet immediate cash needs
D. A financial strategy for balancing specific line items in a budget

35. A budget, in terms of a healthcare entity, is a:

A. Set of benchmarks
B. Reporting tool
C. Financial tool
D. Management tool

36. The term "cost" in health care can mean all of the following EXCEPT:

A. The amount a patient owes
B. The amount paid on an invoice for a supply
C. The amount paid to employees for salaries
D. The amount paid for a service

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27 .Budgeting: A. Sets targets and objectives established by management B. Is intended to control expenses C. Defines how revenue will be earned D. Sets the organization's "rules of the road" for operating