1.Which of the following is one of the most commonly used means to determine which cost...

1.Which of the following is one of the most commonly used means to determine which cost variances to investigate? A. Control chart B. Dashboarding C. Benchmarking D. Cost analysis

2.Measuring which of the following has become increasingly important in the healthcare industry as a result of the emphasis on cost containment?

A. Efficiency

B. Productivity

C. Variability

D. Reliability

3.What type of variance may not be controllable by the providers and may be a reflection of the nature of the insured population?

A. Volume variance

B. Efficiency variance

C. Utilization variance

D. Case-mix variance

Solutions

Expert Solution

1.) The correct option is option A . Control chart.

The control chart is used to monitor the actual physical process and it compares actual output observation with the predetermined standards. If the actual output observation falls between the predetermined upper limit and lower limit of control chart then it is assumed that actual process is in control limits.If the actual process is outside the predetermined lower and upper limit than variance are subjected to investigation.

2.) The correct option is B. Productivity.

Rising of the cost of hospital industry and increase in competition cultural environment of hospital is changed. Hospital now concentrating on cost cutting and increase productivity .Increase in productivity is only key to generate more revenue. Increase in productivity will help in cost cutting 3.) The correct answer is option D. Case mix variance

Case mix variance shows changes in cost per unit. But this change in cost per unit is not because of change in efficiency but this change cost per unit is because of change in case of mix of seen patients in health care industry.This type of variances may not be controlled by the services provider and may be a reflection of nature of insured population.

ekkarill92 answered 11 months ago

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