HCAD 5301 Exam #5 Questions with Detailed Verified Answers

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HCAD 5301 Exam #5 Questions with Detailed
Verified Answers

Question: patient ledger

Ans✅ ✅: account of the charges rendered to an individual patient

Question: general ledger

Ans✅ ✅: technically, the record of all the firm's transactions; the term often refers
to the fixed and collective assets, such as depreciation, that must be allocated to
operational units

Question: pro forma

Ans✅ ✅: a forecast of financial statements establishing the future financial position
of the organization for a given set of operating conditions of decisions

Question: gross revenue

Ans✅ ✅: An entry to the patient ledger of the charge for a specific healthcare
service; no longer a meaningful measure.

Question: net revenue

Ans✅ ✅: Actual revenue received, as opposed to that initially posted; equal to gross
revenue minus adjustments for bad debts, charity, and discounts to third parties
("contractual allowance").

Question: bad debt

Ans✅ ✅: Cost for patients who were expected to pay for care but did not.

Question: nonoperating revenue

Ans✅ ✅: Income generated from non-patient-care activities, including investments
in securities and earnings from unrelated businesses.