The purpose of a not-for-profit healthcare facility is to - ANS-provide healthcare services
to the community.
What are the five management functions? - ANS-Planning, organizing, staffing,
controlling, directing
The
...
The purpose of a not-for-profit healthcare facility is to - ANS-provide healthcare services
to the community.
What are the five management functions? - ANS-Planning, organizing, staffing,
controlling, directing
The purpose of healthcare financial management is to - ANS-provide accounting and
financial information that assists the manager in achieving the
organization's purpose.
What is the highest level of education most CFOs have completed? - ANS-Master's
degree
Accounting is generally divided into what major areas? - ANS-Financial accounting and
managerial accounting
The purpose of financial accounting is to provide - ANS-historic accounting information
to external users, such as stakeholders.
The purpose of managerial accounting is to provide - ANS-current or prospective
accounting information to internal users, including managers
Healthcare financial managers follow which of the following common measures? - ANSAverage length of stay
Cost accounting is defined as the - ANS-study of costs, including methods for
classifying, allocating, and identifying costs.
Historically, the purpose of finance was to - ANS-borrow and invest the funds necessary
for the organization to achieve its purpose
Today, the purpose of finance is to - ANS-analyze information provided by managerial
accounting to evaluate past decisions and make
sound decisions in the future.
The most important objective of healthcare financial management is to - ANS-generate
income
Direct measures of quality assume that - ANS-an organization can define and measure
quality itself.
Direct measures of quality include - ANS-goal-based, connoisseurship, responsive, and
decision-making measures
Indirect measures of quality assume that - ANS-an organization can define and
measure the results of quality.
Indirect measures of quality include - ANS-resource, outcome, value-added, and
reputational measures.
Who established the National Patient Safety Goals? - ANS-The Joint Commission
Managers typically represent a __________ view of ethics, whereas clinicians typically
represent a _________ view of ethics. - ANS-utilitarian; deontological
Healthcare expenditures as a percent of gross domestic product are about - ANS-18
percent
By the type of service, the largest healthcare expenditure are - ANS-hospitals
By source of funds, the largest healthcare payer is - ANS-private health insurance
Which of the following should be monitored by the healthcare financial managers? -
ANS-Admissions, average daily census, average length of stay (all of the above)
The three management connective processes are - ANS-communication, coordinating,
and decision making
The worst example of conflict of interest is - ANS-conflict between the manager's duties
to the organization and when managers use their positions of authority for personal
gains (Bother b and c)
Which of the following is important to financial management as a direct measure of
quality? - ANS-Decision making
Which of the following elements will NOT profoundly affect the financial situation of a
healthcare organization? - ANS-Decrease in the number of individuals without
insurance
According to Rose Dunn, organizing includes which of the following? - ANS-Establishing
a unity of command, departmentalization, specialization (All the above)
The governing body of a healthcare organization is responsible for - ANS-proper
development, utilization, and maintenance of all resources
A finance committee typically - ANS-monitors the CEO's performance in financial
activities...
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