BUSN 340 Final Exam
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Points Received: 160 / 200 (80%)
Grade Details - All Questions
Question 1. Question : (TCO 2) What is the basic accounting equation?
Question 2. Question : (TCO 1) What are the primary responsibilities of the financial manager?
Question 3. Question : (TCO 1) What are the six stages of the revenue cycle?
Question 4. Question : (TCO 1) What is the False Claims Act and how does it impact providers of health care services?
Question 5. Question : (TCO 4) You have been asked to establish a pricing structure for radiology on a per-procedure basis. Present budgetary data is presented below:
Budgeted Procedures 10,000
Desired Profit $80,000
It is estimated that Medicare patients comprise 40 percent of total radiology volume and will pay on average $38.00 per procedure. Approximately 10 percent of the patients are cost payers. The remaining charge payers are summarized below:
Payer Volume % Discount %
Blue Cross 20 4
Unity PPO 15 10
Kaiser 10 10
Self Pay 5 40
What rate must be set to generate the required $80,000 in profit in the preceding example?
Question 6. Question : (TCO 3) Assume that a certain nursing home has two categories of payers. Medicaid pays $60.00 per day and private pay patients pay the established per diem, but approximately 10 percent of private-pay charges are not collected. If 50 percent of the patients are Medicaid and 50 percent are private pay, what rate must be set to generate $150,000 in profit? Variable costs are $45.00 per day and fixed costs are expected to be $1,000,000. Expected volume is 50,000 patient days.
Question 7. Question : (TCO 5) What are the advantages to a tax-paying entity in issuing debt as opposed to equity?
Question 8. Question : (TCO 6) What is the purpose of disbursement policies?