HSMA 4055 Ch 1- 5 quiz questions and answers.
which of the following statements about regulatory and legal issues is most correct?
A. States require licensure of certain healthcare providers to limit the number of providers.
B. The goal of certificate-of-need (CON) regulation is to ensure that there are a sufficient
number of clinical workers at each hospital and nursing home.
C. Clinicians who are employees of hospitals do not require personal licenses, as they can
practice under the umbrella of the hospital's license.
D. For most providers, the primary legal concern is professional liability.
E. Healthcare managers must grapple with several legal issues, but there are virtually no ethical
issues that arise. correct answers D
The ACA is to be phased in over 10 years. The initial impetus and primary focus of the ACA
was:
increasing access to care
improving quality of care
containing costs
All of the above correct answers All of the above
In the United States, the highest proportion of healthcare expenditures is for correct answers
hospital care
True or False: 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
Which of the following is not a finance activity?
Planning and budgeting
Revenue cycle management
Financial reporting
Financial risk management
Facilities management correct answers Facilities management
, True or False: Key stakeholders in the health care system include providers, nurses, suppliers,
hospitals, and retail clinics. correct answers True
True or False: The Patient Protection and Affordable Care Act (ACA) is also known as
Obamacare because it was legislated during the presidency of President Barack Obama. correct
answers True
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
A considerable barrier to obtaining insurance for young adults was originally addressed with the
ACA in the mandatory requirement of insurance for all. to that end, the law specifically
provided: correct answers coverage for young adults between 19 and 26 on their parents' policies
ACA stipulates which of the following entities are eligible to participate as ACOs:
Professionals in group practice arrangements and networks of individual practices of
professionals
Partnerships or joint ventures between hospitals and health professionals or hospitals employing
professionals
Other groups of providers of services and suppliers as the Secretary determines appropriate
All of the above correct answers All of the above
True or False: The role of finance in healthcare organizations has increased in importance over
time because the finance function must support a multitude of activities such as cost
containment, payer negotiations, and joint venture activities. correct answers True
True or False: 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
True or false: The four Cs (character, capability, charisma, and courtesy) as described in the
textbook summarize the attributes needed to be a good financial manager. correct answers False
Which of the following statements about the finance department at a large healthcare
organization is most correct?
The department is headed by the chief financial officer (CFO) (sometimes called the vice-
president finance).
The CFO typically reports directly to the chief executive officer (CEO).
which of the following statements about regulatory and legal issues is most correct?
A. States require licensure of certain healthcare providers to limit the number of providers.
B. The goal of certificate-of-need (CON) regulation is to ensure that there are a sufficient
number of clinical workers at each hospital and nursing home.
C. Clinicians who are employees of hospitals do not require personal licenses, as they can
practice under the umbrella of the hospital's license.
D. For most providers, the primary legal concern is professional liability.
E. Healthcare managers must grapple with several legal issues, but there are virtually no ethical
issues that arise. correct answers D
The ACA is to be phased in over 10 years. The initial impetus and primary focus of the ACA
was:
increasing access to care
improving quality of care
containing costs
All of the above correct answers All of the above
In the United States, the highest proportion of healthcare expenditures is for correct answers
hospital care
True or False: 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
Which of the following is not a finance activity?
Planning and budgeting
Revenue cycle management
Financial reporting
Financial risk management
Facilities management correct answers Facilities management
, True or False: Key stakeholders in the health care system include providers, nurses, suppliers,
hospitals, and retail clinics. correct answers True
True or False: The Patient Protection and Affordable Care Act (ACA) is also known as
Obamacare because it was legislated during the presidency of President Barack Obama. correct
answers True
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
A considerable barrier to obtaining insurance for young adults was originally addressed with the
ACA in the mandatory requirement of insurance for all. to that end, the law specifically
provided: correct answers coverage for young adults between 19 and 26 on their parents' policies
ACA stipulates which of the following entities are eligible to participate as ACOs:
Professionals in group practice arrangements and networks of individual practices of
professionals
Partnerships or joint ventures between hospitals and health professionals or hospitals employing
professionals
Other groups of providers of services and suppliers as the Secretary determines appropriate
All of the above correct answers All of the above
True or False: The role of finance in healthcare organizations has increased in importance over
time because the finance function must support a multitude of activities such as cost
containment, payer negotiations, and joint venture activities. correct answers True
True or False: 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
True or false: The four Cs (character, capability, charisma, and courtesy) as described in the
textbook summarize the attributes needed to be a good financial manager. correct answers False
Which of the following statements about the finance department at a large healthcare
organization is most correct?
The department is headed by the chief financial officer (CFO) (sometimes called the vice-
president finance).
The CFO typically reports directly to the chief executive officer (CEO).
