UAMS Lab. Management exam 3
Study online at https://quizlet.com/_bzyi4l
1. what is financial ac- dedicated to recording the "bottom line" financial position of the orga-
counting? what financial nization; often referred as the scored keeping function
document is used? - balance sheet
2. What is cost account- tracks where expenses are incurred and assign responsibility for their
ing(managerial ac- expenditure.
counting)?what finan- -budget
cial document is used?
3. source of revenue: Cap- tests in which the patients have no choice of location. This usually means
tive Revenue Tests procedures requested through the hospital for inpatients, outpatients,
and emergency room patients
4. source of revenue: dis- the client may select the location. Pt may be referred by physicians,
cretionary test outpatient departments, insurance companies, or industrial outreach
programs.
5. Cash accounting basis Bills are paid as they are presented and revenue is counted when it is
actually received
6. accrual accounting ba- an accounting method that attempts to measure net income for a par-
sis ticular period by "matching" expenses against revenues
7. Diagnostic Related A federal government-established payment system for hospitals based
Groups (DRGs) on diagnosis. includes: medicare,medicaid, all inpatients
8. Master Charge Descrip- a menu of procedures and prices for services offered by a laboratory
tion File Listing (MCDFL)
9. hourly rate Used to set charges for the use of specialized areas.
-the total cost of the department and projection of the total hours service
will be used are calculated to establish the amount of revenue necessary
to cover the expenses of the department/
1/8
, UAMS Lab. Management exam 3
Study online at https://quizlet.com/_bzyi4l
10. surcharge/cost-plus most common for establishing a charge.
A markup is added to the cost of an item to arrive at a charge
11. Weighted-value basis a weighted value is assigned to a test and then multiplied by a
cost-per-weighted-unit factor
-used by ancillary services like lab and rad depts.
12. historical method current prices are increased by a specified percentage, based on esti-
mated changes in costs and inflation
13. salary and wage cost Examines personnel in terms of employment relationships.
evaluation: 4 stages:
Institutional labor cost 1. recruitment and acquisition costs
evaluation 2. training or development
3. productive or operational periods
4. Costs associated with the termination and separation of employees
from the institution.
14. salary and wage cost looks at work flow and tasks performed that generate expenses.
evaluation: 1.preanalytical time
technical evaluation of 2. analytical times
labor costs 3. postanalytical time
-
15. salary and wage cost evaluates the actual labor costs of the lab. involved in delivering a ser-
evaluation: vice.
accounting and budget -total paid hours
perspective -productive(worked) hours
-nonproductive(benefits) hours
16. Full-time equivalent
(FTE)
2/8
Study online at https://quizlet.com/_bzyi4l
1. what is financial ac- dedicated to recording the "bottom line" financial position of the orga-
counting? what financial nization; often referred as the scored keeping function
document is used? - balance sheet
2. What is cost account- tracks where expenses are incurred and assign responsibility for their
ing(managerial ac- expenditure.
counting)?what finan- -budget
cial document is used?
3. source of revenue: Cap- tests in which the patients have no choice of location. This usually means
tive Revenue Tests procedures requested through the hospital for inpatients, outpatients,
and emergency room patients
4. source of revenue: dis- the client may select the location. Pt may be referred by physicians,
cretionary test outpatient departments, insurance companies, or industrial outreach
programs.
5. Cash accounting basis Bills are paid as they are presented and revenue is counted when it is
actually received
6. accrual accounting ba- an accounting method that attempts to measure net income for a par-
sis ticular period by "matching" expenses against revenues
7. Diagnostic Related A federal government-established payment system for hospitals based
Groups (DRGs) on diagnosis. includes: medicare,medicaid, all inpatients
8. Master Charge Descrip- a menu of procedures and prices for services offered by a laboratory
tion File Listing (MCDFL)
9. hourly rate Used to set charges for the use of specialized areas.
-the total cost of the department and projection of the total hours service
will be used are calculated to establish the amount of revenue necessary
to cover the expenses of the department/
1/8
, UAMS Lab. Management exam 3
Study online at https://quizlet.com/_bzyi4l
10. surcharge/cost-plus most common for establishing a charge.
A markup is added to the cost of an item to arrive at a charge
11. Weighted-value basis a weighted value is assigned to a test and then multiplied by a
cost-per-weighted-unit factor
-used by ancillary services like lab and rad depts.
12. historical method current prices are increased by a specified percentage, based on esti-
mated changes in costs and inflation
13. salary and wage cost Examines personnel in terms of employment relationships.
evaluation: 4 stages:
Institutional labor cost 1. recruitment and acquisition costs
evaluation 2. training or development
3. productive or operational periods
4. Costs associated with the termination and separation of employees
from the institution.
14. salary and wage cost looks at work flow and tasks performed that generate expenses.
evaluation: 1.preanalytical time
technical evaluation of 2. analytical times
labor costs 3. postanalytical time
-
15. salary and wage cost evaluates the actual labor costs of the lab. involved in delivering a ser-
evaluation: vice.
accounting and budget -total paid hours
perspective -productive(worked) hours
-nonproductive(benefits) hours
16. Full-time equivalent
(FTE)
2/8
