Question

Intro to Health Information: Identify the types or categories of revenue and expenses that would be required in a release of information function within a hospital or clinic. What assumptions are necessary before starting?

Answer 1

The types of categories of revenue and expenses that would be required in a release of information within a hospital or clinic are as follows -

• Labor Costs - The daily wages and benefits which are given to the employees or labor constitutes more than 50 % of hospital or clinic expenses.
• Insurance Billing - Hospitals and Clinics gets revenue from serving patients. Hospitals always includes many private health plans for there patients, and agrees to pay back to subscribed plan which can be of any type of medical service. In case money is not paid by insurance companies , patients are asked to pay bills.
• Tests and Technology - Improving Technology in medical field had helped doctors in better diagnosing. But using technology also brings up high expenses with it. Few of the examples of technology are MRI scan, CT scan, Surgical Robots, etc.
• Research and Teaching - Some Hospitals receives big funding to carry out studies and experiments.
• Liability Cost - Liability cost is also a part of expenditure of hospitals. Mistakes can take place any moment and can happen from anybody, Hence hospitals needs to protect themselves and liability cost is incurred.