DLM (ASCP) Exam/ 216 questions
with correct answers/ Verified and
Graded A+
Project Volumes (forecasting stage) - -based on expert opinion,
stats, historical data, shifts in patient mix, changes in medical
staff composition, changes in inflation/reimbursement ratws,
expansion/cutbacks, population fluctuations based on economy
-Steps to creating a budget - -1. project volumes
2. convert volumes to revenue
3. convert volumes into expense requirements
4. Adjust revenue/ expenses as necessary to meet budget margin
-gross revenue - -Rates x Production Unit (Billable test volume)
-Expenses - -salaries/wages, reference service, instrument lease,
maintenance contracts, education/travel
-Financial Statements - -convey the financial status of an
organization
4 main types - income statement, balance sheet statement of
changes in equity and statement of cash flows.
-income statement - -summarizes the operations of an
organization with a focus on its revenues, expenses, and
profitability. contains operational results over a period of time.
-depreciation - -noncash charge against earnings on income
statement that reflect the "wear and tear" on a business' fixed
assets (property and equipment). loss of value
, -salvage value - -amount received when final disposition occurs
at end of the asset's useful life.
-annual depreciation - -(initial cost - salvage value)/ useful life
-Profit - -net income -expense
-cashflow - -net income + depreciation
-Total Profit Margin - -Net income divided by total revenues. It
measures the amount of total profit per dollar of total revenues.
-fixed costs - -cost not related to the volume of services
delivered (ex. facilities cost, lab admin, instrument leases,
maintenance contracts)
-variable cost - -directly related to the volume of services
delivered (ex. supplies, labor costs)
-Profit Analysis - -technique use to analyze the effects of volume
changes on profit. can also be used to analyze effects of volume
changes on costs.
-Total Costs - -fixed costs + variable costs
Variable costs = variable cost rate x volume
-contribution margin - -difference between per unit revenue and
per unit variable cost. gives the amount left to cover the fixed
costs. after fixed costs are covered what's left contributes to the
profit.
-accounting breakeven - -Volume needed to produce zero profit.
Revenues cover all accounting costs.
,Total Revenue (cost x volume) - Total Variable (variable cost rate
x volume) - fixed costs = $0
-economic breakeven - -occurs when all accounting costs plus a
profit target are covered
total revenue - total variable cost- fixed cost = profit
-Surcharge/Cost Plus - -used for reference/send out testing.
Determine cost of doing a procedure then add markup factor to
get appropriate price.
-weight value basis - -each test performed is assigned a weight
based on cost of performing the test in relation to the procedure.
-patient day factor - -the number of patients in a hospital on a
given day.
(average patient day/ daily census for the year) x 365
-tests per patient days - -test volume/ patient days
-revenue per test - -gross revenue/test volume
-direct costs - -test-specific costs (Variable)
examples - supplies, instrumentation, reagents, tech time
-indirect cost - -remain constant
examples - lab admin, medical records, house keeping, utilities,
etc. (fixed/semi-variable)
-unit costs - -total direct + indirect expenses
-Employment cycle - -covers all stages in the process of
employing staff:
1. recruitment and acquisition costs (pre-employment screen)
, 2. training/developmental costs (ongoing)
3. productive/operational periods
4. termination/separation of employee from institution costs
-analyze labor costs - -institutional labor cost evaluation
(employment cycle)
technical evaluation of labor cost - assign labor costs to
production activities that generate expenses. helps manager
identify where efforts are being expended and productivity
accounting and budgeting labor analysis - helps monitor staffing
levels, productivity and management performance against budget
objectives
-preanalytical time - -specimen collection, prep, instrument
-analytical time - -performing/resulting tests
-post analytical time - -reporting and routine maintenance
-total hours - -productive hours + nonproductive hours
-productive hours - -actual worked hours includes overtime and
training
-nonproductive hours - -compensated but not worked. sick leave,
vacation, bereavement, etc.
-Full-time equivalent (FTE) - -An employee who works full-time,
40 hours per week, 2080 hours per year (total number of hours
paid/ 2080)
171 or 177 hours - per month
-Productivity Measurement - -workload unit (WLU)/ labor units
with correct answers/ Verified and
Graded A+
Project Volumes (forecasting stage) - -based on expert opinion,
stats, historical data, shifts in patient mix, changes in medical
staff composition, changes in inflation/reimbursement ratws,
expansion/cutbacks, population fluctuations based on economy
-Steps to creating a budget - -1. project volumes
2. convert volumes to revenue
3. convert volumes into expense requirements
4. Adjust revenue/ expenses as necessary to meet budget margin
-gross revenue - -Rates x Production Unit (Billable test volume)
-Expenses - -salaries/wages, reference service, instrument lease,
maintenance contracts, education/travel
-Financial Statements - -convey the financial status of an
organization
4 main types - income statement, balance sheet statement of
changes in equity and statement of cash flows.
-income statement - -summarizes the operations of an
organization with a focus on its revenues, expenses, and
profitability. contains operational results over a period of time.
-depreciation - -noncash charge against earnings on income
statement that reflect the "wear and tear" on a business' fixed
assets (property and equipment). loss of value
, -salvage value - -amount received when final disposition occurs
at end of the asset's useful life.
-annual depreciation - -(initial cost - salvage value)/ useful life
-Profit - -net income -expense
-cashflow - -net income + depreciation
-Total Profit Margin - -Net income divided by total revenues. It
measures the amount of total profit per dollar of total revenues.
-fixed costs - -cost not related to the volume of services
delivered (ex. facilities cost, lab admin, instrument leases,
maintenance contracts)
-variable cost - -directly related to the volume of services
delivered (ex. supplies, labor costs)
-Profit Analysis - -technique use to analyze the effects of volume
changes on profit. can also be used to analyze effects of volume
changes on costs.
-Total Costs - -fixed costs + variable costs
Variable costs = variable cost rate x volume
-contribution margin - -difference between per unit revenue and
per unit variable cost. gives the amount left to cover the fixed
costs. after fixed costs are covered what's left contributes to the
profit.
-accounting breakeven - -Volume needed to produce zero profit.
Revenues cover all accounting costs.
,Total Revenue (cost x volume) - Total Variable (variable cost rate
x volume) - fixed costs = $0
-economic breakeven - -occurs when all accounting costs plus a
profit target are covered
total revenue - total variable cost- fixed cost = profit
-Surcharge/Cost Plus - -used for reference/send out testing.
Determine cost of doing a procedure then add markup factor to
get appropriate price.
-weight value basis - -each test performed is assigned a weight
based on cost of performing the test in relation to the procedure.
-patient day factor - -the number of patients in a hospital on a
given day.
(average patient day/ daily census for the year) x 365
-tests per patient days - -test volume/ patient days
-revenue per test - -gross revenue/test volume
-direct costs - -test-specific costs (Variable)
examples - supplies, instrumentation, reagents, tech time
-indirect cost - -remain constant
examples - lab admin, medical records, house keeping, utilities,
etc. (fixed/semi-variable)
-unit costs - -total direct + indirect expenses
-Employment cycle - -covers all stages in the process of
employing staff:
1. recruitment and acquisition costs (pre-employment screen)
, 2. training/developmental costs (ongoing)
3. productive/operational periods
4. termination/separation of employee from institution costs
-analyze labor costs - -institutional labor cost evaluation
(employment cycle)
technical evaluation of labor cost - assign labor costs to
production activities that generate expenses. helps manager
identify where efforts are being expended and productivity
accounting and budgeting labor analysis - helps monitor staffing
levels, productivity and management performance against budget
objectives
-preanalytical time - -specimen collection, prep, instrument
-analytical time - -performing/resulting tests
-post analytical time - -reporting and routine maintenance
-total hours - -productive hours + nonproductive hours
-productive hours - -actual worked hours includes overtime and
training
-nonproductive hours - -compensated but not worked. sick leave,
vacation, bereavement, etc.
-Full-time equivalent (FTE) - -An employee who works full-time,
40 hours per week, 2080 hours per year (total number of hours
paid/ 2080)
171 or 177 hours - per month
-Productivity Measurement - -workload unit (WLU)/ labor units
