Question

HA 440                  GRADED Assignment # 2               Name _____________________________

Completion

Complete each statement.

            1.   Expenses are ________________________ costs that have been __________________________ while doing business

            2.   Three categories of healthcare expenses are ______________________________, ________________________________ and Operations Expenses

            3.   A program can be defined as a __________________________ that has its own objectives

            4.   _____________________ costs can be specifically associated with a particular unit, department or patient

            5.   A Responsibility Center makes a manager responsible for both the __________________________ and the ____________________________ sides of a department, division, unit or program.

            6.   Period Costs are not connected with the ______________________________ process

            7.   Examples of expenses include salary expense for labor performed, __________________________________ for electricity and __________________________________________ for the use of money

            8.   Cost is the __________________________________________ expended in consideration of goods or services received or to be received

            9.   Expenses can be grouped by _________________________________________ which recognizes the different sites at which services are delivered

          10.   A program is usually funded _________________________________________ and for a ______________________________________ of time

          11.   The somewhat vague definition of a _______________________________________ is any unit for which a separate cost measurement is desired.

          12.   ______________________________________ are incurred for the sole benefit of a particular operating unit.

          13.   The concept of product costs assumes that a product has been _______________________________ and ______________________________________________ while waiting to be sold.

          14.   If Revenues are grouped by ___________________________________ or by Service Lines then Expenses should also be grouped by theses categories.

          15.   Program expenses should be grouped in such a way that they are _______________________________

          16.   The important thing is that direct costs can be ________________________. Indirect costs, on the other hand, cannot be specifically associated with a particular _____________________________

          17.   _________________________ Costs are incurred for the overall operation and not for any one unit.

          18.   In Revenue Centers, managers are responsible for generating _________________________ or _________________________________

          19.   The concept of _______________________ Costs assumes that a product has been manufactured and placed in inventory while waiting to be sold.

          20.   In healthcare organizations, product costs can be viewed as __________________________ to the cost object of the department, __________________________ or _______________________________

          21.   _________________________ represents the amount earned by an organization.

          22.   Revenue is generally defined as the value of ______________________________________________, expressed at the facility’s full established rates.

          23.   The traditional payment method in health care is that of payment ____________________________________________________

          24.   The truly traditional U.S. method of receiving revenue for services is _________________________

          25.   _______________________________________________ are the differences between the full established rate and the agreed-upon contractual rate that will be paid.

          26.   Medicare’s _____________________________________, Part ______ is the prescription drug benefit.

          27.   The __________________________________________ is the largest U.S. Government Program providing funds for medical and health-related services for the poor.

          28.   Generally speaking, conventional indemnity insurers or _______________________________________, simply pay for the eligible health services used by those individual who pay premiums for healthcare insurance.

          29.   Grouping revenue by _________________________________________ recognizes the different sites at which services are delivered.

          30.   _____________________________________________________ represents a variation on the original fee for service where a contracted discount is agreed upon

Answer 1

1. operating and non operating costs.........incurred

2.general services and support

3. Project

4. Operation cost

5. revenue side and expenses side

6. manufacturing

7. utility expense and saving, interest expense

8. prepaid expense

9.care setting

10. Separately and for finite periods

11. cost object

12. direct cost

13.manufactured and placed in inventory

14. Care setting

15. Distinguishable

16.can be directly tied to a production of specific goods........unit or facility

17. Indirect costs

18. Revenue or volume

19. Product costs

20. Traceable ......unit

21. Earning

22. Value of services rendered

23. After service is delivered

24. Fee for service

25. Contractual allowances

26. Fourth part.....D

27. Medicaid program

28. Commercial insurer

29.care setting

30.discounted fee for service