HSMA 4055 Midterm || 100% Correct Answers.
The following is a function of management
Planning
Organizing
Staffing
Directing & Controlling
All of the above correct answers All of the above
In the course we will be focusing on which branch of accounting?
Managerial accounting
Cost accounting
Forensic accounting
Financial accounting
Managerial and financial accounting correct answers Managerial and financial accounting
Total cost can be derived by
Adding variable cost and flexible costs
Multiplying number of visits by fixed costs
Adding fixed costs and variable costs
Multiplying fixed costs and variable costs correct answers Adding fixed costs and variable costs
Variable costs are largely driven by
Volume
Fixed costs
Flexible costs
Financial accounting correct answers Volume
Which of the following special interest was initially a proponent of universal health coverage but
later turned against universal health insurance movement? correct answers
The Health Information Technology for Economic and Clinical Health (HITECH) Act, enacted
as part of the American Recovery and Reinvestment Act of 2009, was signed into law on
February 17, 2009, to: correct answers
According to the assigned reading, the first national wide movement for universal health
insurance coverage was first launched in: correct answers
The progression of health reform goals has developed over the years to cover three areas: The
health care costs, healthcare access, and healthcare quality. According to your reading, which the
correct order of the progression (starting with the earliest goal to the latest goal added to the
reform efforts). correct answers
, The Federally Qualified Health Centers must meet certain creteria. Which of the following is a
criterion they must meet to qualify for federal funds to operate: correct answers
Key stakeholders in the health care system include providers who are identified as persons and
organizations that deliver health care services to patients. All the following are providers except
correct answers suppliers, consumers, and regulators
Which of the following statements about healthcare providers is incorrect? correct answers There
are many more hospitals than there are nursing homes, but nursing homes tend to have a greater
number of beds.
Which of the following statements about hospitals is most correct? correct answers The majority
of hospitals are public or not-for-profit (as opposed to investor owned).
True or false: Many studies have demonstrated that integrated delivery systems are able to
provide higher-quality care at lower cost than can stand-alone specialized provider organizations.
correct answers False
The Patient Protection and Affordable Care Act (ACA) is also known as Obamacare because it
was legislated during the presidency of President Barak Obama. correct answers True
The ACA is to be phased in over 10 years. The initial impetus and primary focus of the ACA
was correct answers All of the above
The U.S. government is a major stakeholder and participant in health care as payer, provider, and
supporter of research, education, and training. correct answers True
ACA stipulates which of the following entities are eligible to participate as ACOs: correct
answers All the above
Which of the following is not a finance activity? correct answers Facilities management
The ACA was challenged in court in 2010 when over 25 states sued the Federal government and
lost over the constitutionality of the individual mandates and Medicaid expansion correct
answers True
Which of the following statements about finance, accounting, or financial management is most
correct? correct answers The primary role of finance is to plan for, acquire, and use resources to
maximize the efficiency (and value) of the enterprise
Which of the following statements about the finance department at a large healthcare
organization is most correct? correct answers All of the above statements are correct.
Which of the following statements about regulatory and legal issues is most correct? correct
answers For most providers, the primary legal concern is professional liability.
The following is a function of management
Planning
Organizing
Staffing
Directing & Controlling
All of the above correct answers All of the above
In the course we will be focusing on which branch of accounting?
Managerial accounting
Cost accounting
Forensic accounting
Financial accounting
Managerial and financial accounting correct answers Managerial and financial accounting
Total cost can be derived by
Adding variable cost and flexible costs
Multiplying number of visits by fixed costs
Adding fixed costs and variable costs
Multiplying fixed costs and variable costs correct answers Adding fixed costs and variable costs
Variable costs are largely driven by
Volume
Fixed costs
Flexible costs
Financial accounting correct answers Volume
Which of the following special interest was initially a proponent of universal health coverage but
later turned against universal health insurance movement? correct answers
The Health Information Technology for Economic and Clinical Health (HITECH) Act, enacted
as part of the American Recovery and Reinvestment Act of 2009, was signed into law on
February 17, 2009, to: correct answers
According to the assigned reading, the first national wide movement for universal health
insurance coverage was first launched in: correct answers
The progression of health reform goals has developed over the years to cover three areas: The
health care costs, healthcare access, and healthcare quality. According to your reading, which the
correct order of the progression (starting with the earliest goal to the latest goal added to the
reform efforts). correct answers
, The Federally Qualified Health Centers must meet certain creteria. Which of the following is a
criterion they must meet to qualify for federal funds to operate: correct answers
Key stakeholders in the health care system include providers who are identified as persons and
organizations that deliver health care services to patients. All the following are providers except
correct answers suppliers, consumers, and regulators
Which of the following statements about healthcare providers is incorrect? correct answers There
are many more hospitals than there are nursing homes, but nursing homes tend to have a greater
number of beds.
Which of the following statements about hospitals is most correct? correct answers The majority
of hospitals are public or not-for-profit (as opposed to investor owned).
True or false: Many studies have demonstrated that integrated delivery systems are able to
provide higher-quality care at lower cost than can stand-alone specialized provider organizations.
correct answers False
The Patient Protection and Affordable Care Act (ACA) is also known as Obamacare because it
was legislated during the presidency of President Barak Obama. correct answers True
The ACA is to be phased in over 10 years. The initial impetus and primary focus of the ACA
was correct answers All of the above
The U.S. government is a major stakeholder and participant in health care as payer, provider, and
supporter of research, education, and training. correct answers True
ACA stipulates which of the following entities are eligible to participate as ACOs: correct
answers All the above
Which of the following is not a finance activity? correct answers Facilities management
The ACA was challenged in court in 2010 when over 25 states sued the Federal government and
lost over the constitutionality of the individual mandates and Medicaid expansion correct
answers True
Which of the following statements about finance, accounting, or financial management is most
correct? correct answers The primary role of finance is to plan for, acquire, and use resources to
maximize the efficiency (and value) of the enterprise
Which of the following statements about the finance department at a large healthcare
organization is most correct? correct answers All of the above statements are correct.
Which of the following statements about regulatory and legal issues is most correct? correct
answers For most providers, the primary legal concern is professional liability.
