HSM 340 COMPLETE COURSE DEVRYTo purchase this, visit
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COURSE - DEVRY (ALL ASSIGNMENTS - DQS - QUIZEZ - MIDTERM AND FINAL
EXAM)week 1Finance and the Regulatory Components (graded)a) Are
there any other types of information besides financial that may be
useful in making financial decisions?b) Identify the major
components of a corporate compliance plan, including the
establishment of internal controls relating to the finances of an
organization.c) How does legal and regulatory issues shape and
define good financial management of a health care
organization?Reimbursement and Payment Determination (graded)a)
Discuss the major reimbursement methods used in health care.b)
Discuss the major aspects of Medicare benefits.c) List some of the
important considerations when negotiating a health plan
contract.wek 2Accounting Conventions and Methods (graded)Discuss
the accounting conventions that affect the application of
accounting principles.Financial Performance (graded)Explain why it
is important to know the scope of business being reviewed when
using financial statements.week 3Cost Categories (graded)Discuss
the four types of costs that might be relevant when considering
alternative projects.Cost Information (graded)Describe how cost
information relates to the three key activities of management:
planning, budgeting, and control.weeek 4Financial Sources
(graded)List the major nonhospital and nonphysician sectors of the
healthcare industryFinancial Theories and Concepts (graded)Describe
the two major theories used for the detection of out-of-control
costs.This section lists options that can be used to view
responses.week 5 discussionCapital Investments (graded)List some of
the kinds of information that is needed to evaluate a capital
investment project.Future and Present Value (graded)List some of
the pros and cons of retiring debt early.week 6Cash and Assets
(graded)List and describe where cash is generated by an
organization and where an organization uses its cash.Cash Resources
(graded)List and explain the criteria that should be used when
investing an organization's cash in the short term.week 7HMO, MCO
and Health Plans (graded)Discuss legal and regulatory issues that
affect MCOs.Financial Policy (graded)Describe the relationship
between financial planning and strategic planning.This section
lists options that can be used to view responses.week 1
assignment1. What are four general phases of the working capital
cycle?2. What are the three primary sources of short-term funds?3.
An organization's short-term investment options for idle cash
include what four areas? List and provide their characteristics.4.
Discuss the term floatourse AssignmentCapital Budgeting
ProcessComplete an APA-formatted two-page paper (not including the
title and reference pages) answering the following questions.1.
Organizations that decide to issue bonds generally go through a
series of steps. Discuss the six steps.2. An alternative to
traditional equity and debt financing is leasing. Leasing is
undertaken primarily for what purposes?3. Discuss the two major
types of leases.4. Discuss the terms short-term borrowing and
long-term financing.5. What are the primary sources of equity
financing for not-for-profit healthcare organizations?6. The
capital budgeting process occurs in several stages, but generally
includes what?7. Discuss and list the three discounted cash flow
methods.week 6 assignmentCOURSE ASSIGNMENTCash and Working
CapitalComplete an APA-formatted two-page paper (not including the
title and reference pages) answering the following questions.1.
What are four general phases of the working capital cycle?2. What
are the three primary sources of short-term funds?3. An
organization's short-term investment options for idle cash include
what four areas? List and provide their characteristics.4. Discuss
the term float.Submit your assignment to the Dropbox located on the
silver tab at the top of this pagequiz 2TCO 2) A statement that
reports inflows and outflows of cash during the accounting period
in the categories of operations, investing, and financing, is
called a(an):Income statementStatement of retained earningsBalance
sheetStatement of cash flowsReport of managementQuestion 2.
Question :(TCO 2) Two major methods of asset valuation are::
historical cost and future costhistorical cost and acquisition
costhistorical cost and replacement costacquisition cost and future
costQuestion 3. Question :(TCO 2) _____ is the most important
financial metric to review to determine long-term financial
viability.Return on equityTotal marginDays cash on handHospital
cost indexNone of the aboveComments:Question 4. Question :(TCO 2)
What should be a firm's primary long-term financial
objective?Profit growthDebt growthAsset growthEquity growthQuestion
5. Question :(TCO 2) Explain the difference between the accrual
basis of accounting and the cash basis of accounting.?Question 6.
Question :(TCO 2) What is an accounting entity?Question 7. Question
:(TCO 2) The HC method, which uses unadjusted historical costs,
does not take into account depreciation expenses, purchasing power,
and unrealized gains in replacement value. Despite these weaknesses
as a financial reporting method, the HC method is used more
frequently for accounting purposes than other methods, such as the
HC-GPL, CV, and CV-GPL methods. Why is this so?Question 8. Question
:(TCO 2) Define and describe the purpose of fund accounting (now
called net assets).quiz 3TCO 3) When considering how changes in
volume affect total fixed costs, it is important to consider:the
relevant rangethe variable cost per unitpriceboth A and Bboth B and
CQuestion 2. Question :(TCO 3) To maximize the amount of profit
realized from a rate increase, charges should be increased most in
departments with:High charge payer mix/high write-offs for bad
debt, charity, & discountsLow charge payer mix/low write-offs
for bad debt, charity, & discountsHigh charge payer mix/low
write-offs for bad debt, charity, & discountsLow charge payer
mix/high write-offs for bad debt, charity, & discountsQuestion
3. Question :(TCO 3) Your controller has told you that the marginal
profit of DRG 209 (major joint procedure) for a Medicare patient
exceeds the marginal profit for an average charge patient. Why
might this occur?High fixed costs of treatmentLow Medicare
paymentHigh pricesLow pricesQuestion 4. Question :(TCO 3)Your
hospital has been approached by a major HMO to perform all their
DRG 225 cases (foot surgeries). They have offered a flat payment of
$8,000 per case. You have reviewed your charges for DRG 225 during
the last year and found the following profile:Average Charge:
$11,300Average LOS: 4.5
Daysdata:image/png;base64,R0lGODlhWQACAHcAMSH+GlNvZnR3YXJlOiBNaWNyb3NvZnQgT2ZmaWNlACH5BAEAAAAALAEAAQBXAAEAgAAAAAAAAAIIjI+py+0PWwEAOw==Cost/Charge
Variable Cost
%data:image/png;base64,R0lGODlhFQACAHcAMSH+GlNvZnR3YXJlOiBNaWNyb3NvZnQgT2ZmaWNlACH5BAEAAAAALAEAAAAUAAEAgAAAAAAAAAIEjI+ZBQA7
data:image/png;base64,R0lGODlhHgACAHcAMSH+GlNvZnR3YXJlOiBNaWNyb3NvZnQgT2ZmaWNlACH5BAEAAAAALAAAAAAeAAEAgAAAAAAAAAIFjI+pawUAOw==Routine
Charge $3,200 0.75 65Operating Room 1,850 0.7 80Anesthesiology 210
0.7 75Lab 575 0.65 40Radiology 275 0.65 50Medical Supplies 3,220
0.6 85Pharmacy 955 0.55 85Other Ancillary 1,015 0.75 55Total
Ancillary $8,100 0.7 75In the above data set, assume that the
hospitals cost-to-charge ratio is 0.75 for routine services and
0.70 for Total Ancillary services. Using this information, what
would the average cost of DRG 225 be? (Your answer might be
slightly different due to rounding. Pick the
closest.)$7,613$8,100$7,613$8,000$8,070Instructor Explanation:
Chapter 15Points Received: 0 of 5Comments:Question 5. Question
:(TCO 3) David Jones, the new administrator for a surgical clinic,
was trying to determine how to allocate his indirect expenses. His
staff was complaining that the current method of taking a
percentage of revenues was unfair. He decided to try to allocate
utilities based on square footage of each department,
administration based on direct costs, and laboratory based on
tests. Use the information in the chart below to answer the
question.Square Footage Direct Expenses Lab TestsUtilities
200,000Administration 2,000 500,000Laboratory 2,000 625,000Day-op
Suite 3,000 1,400,000 4,000Cystoscopy 1,500 350,000 500Endoscopy
1,500 300,000 500Total 10,000 3,375,000 5,000Based on the scenario
above, what are the Day Op Suite's total expenses?2342769Instructor
Explanation:What are the Day Op Suites total expenses?What are the
Cystoscopy Departments total expenses?What are the Endoscopy
Departments total expenses?Question 6. Question :(TCO 3) Your
hospital has been approached by a major HMO to perform all their
MS-DRG 470 cases (major joint procedures). They have offered a flat
price of $10,000 per case. You have reviewed your charges for
MS-DRG 470 during the last year and found the following
profile:Average Charge $15,000Average LOS 5 DaysRoutine Charge
$3,600 Cost/Charge 0.80 Variable Cost % 60Operating Room 2,657 0.80
80Anesthesiology 293 0.80 80Lab 1,035 0.70 30Radiology 345 0.75
50Medical Supplies 4,524 0.50 90Pharmacy 1,230 0.50 90Other
Ancillary 1,316 0.80 60Total Ancillary $11,400 0.75 50The HMO in
the above example has indicated that their doctors use less
expensive joint implants. If this less expensive implant were used,
your medical supply charges would be reduced by $2,000. What is the
estimated reduction in variable cost?If medical supply charges
would be reduced by $2,000, estimated reduction in variable cost
will be $900Question 7. Question :(TCO 3) How are costs
classified?quiz 7Page 1Question 1.1. (TCO 7) Employee covered
health plans are most likely to be? (Points : 5)High deductible
health plans with a savings option.HMOs.PPOs.Traditional indemnity
plansQuestion 2.2. (TCO 7) Capitation plans are more common for
physician payment because: (Points : 5)they can better control
utilization.physicians want more risk in their payment plans.they
are concerned about adverse selection.physicians have larger
reserves and can assume more risk.Question 3.3. (TCO 7) The James
Clinic is an organization of 100 physicians in a variety of
specialties. They recently contracted with Prudential Health Plan
on a capitated basis to provide all medical services to
Prudential's members for the next three years. This HMO model would
be defined as a: (Points : 5)Staff ModelGroup ModelIndividual
Practice Association ModelNetwork ModelQuestion 4.4. (TCO 7)
Suppose that AT&T had made an offer to acquire Merck
Pharmaceuticals. Ignoring potential antitrust problems, this merger
would be classified as a: (Points : 5)Cross-border mergerHorizontal
mergerConglomerate mergerVertical mergerQuestion 5. 5. (TCO 7) An
HMO has a Point of Service (POS) option for its members, but will
pay only 80 percent of approved charges. If a member goes out of
network for a medical procedure with a charge of $2,000, of which
$1,200 is approved, how much must the member pay? (Points :
10)Question 6. 6. (TCO 7) A hospital incurs $10 million of cost to
treat Medicaid patients and receives $7 million in payment. Actual
charges for these Medicaid patients were $20 million. The net
community benefit expense that would be reported in Schedule H of
IRS Form 990 would be? (Points : 10)Question 7. 7. (TCO 7) How is
charity care usually defined? (Points : 10)midtermDevry HSM340
MidtermMidterm Exam page 1Question 1.1. (TCO 4) Budgets normally
cover a period of: (Points : 5)5 years2 years3 years1 yearQuestion
2.2. (TCO 4) Which budgetary issue causes the most strife in all
areas of a health care organization? (Points : 5)Setting volume
levelsSetting pricesAllocation of indirect costsDeciding whether to
use a fixed or flexible budgetQuestion 3.3. (TCO 4) Efficiency is a
relationship between: (Points : 5)Outputs and organizational
goalsInputs and outputsInputs and organizational goalsNone of the
aboveQuestion 4.4. (TCO 3) Which of the following is the first step
in any budgetary process? (Points : 5)Define standard treatment
protocolsDefine required departmental volumesDefine standard cost
profilesDefine volumes of patientsQuestion 5.5. (TCO 3) Assume that
the clinic used the price that they need to exactly break even at
10,000 shots. Fewer people than expected showed up and purchased
the flu shot. The clinic would: (Points : 5)earn a profit.have a
loss.break-even.have a reduced unit contribution margin.none of the
above.Question 6.6. (TCO 2) A statement that reports inflows and
outflows of cash during the accounting period in the categories of
operations, investing, and financing, is called a(an): (Points :
5)Income statementStatement of retained earningsBalance
sheetStatement of cash flowsReport of managementQuestion 7.7. (TCO
2) _____ is the most important financial metric to review to
determine long-term financial viability. (Points : 5)Return on
equityTotal marginDays cash on handHospital cost indexNone of the
aboveMidterm Exam page 2Question 1. 1. (TCO 4) What is the amount
of variance that can be attributed to the difference between
budgeted and actual volume?Use the following data to calculate the
variances.The following information has been prepared for a home
health agency.BudgetActualWage Rate per Hour $16.00 $17.00Fixed
Hours 320 320Variable Hours per RelativeValue Unit (RVU) 1.0
1.1Relative Value Units (RVUs) 1,000 1,200Total Labor Hours 1,320
1,640Labor Costs $21,120$27,880Cost per RVU $21.12 $23.23Budgeted
costs at actual volume would be $25,344 ($21.12 1,200), and the
total variance to be explained is $2,536 Unfavorable ($27,880 -
$25,344). Be sure to specify whether the variance is favorable or
unfavorable. (Points : 5)Question 2. 2. (TCO 2) Explain the
difference between the accrual basis of accounting and the cash
basis of accounting.? (Points : 10)Question 3. 3. (TCO 2) What is
an accounting entity? (Points : 10)Question 4. 4. (TCO 1) What are
social responsibility and ethics as they relate to
business-oriented organizations? How should social responsibility
and ethics affect the decisions of even for-profit companies?
(Points : 20)Question 5. 5. (TCO 2) Define and describe the purpose
of fund accounting (now called net assets). (Points :
20)final1.(TCO 4) When would it make sense to use a flexible budget
as compared to aforecastbudget? (Points : 30)Question 2. 2. (TCO 7)
Explain the difference between a horizontal merger and a vertical
merger. (Points : 30)Question 3. 3. (TCO 1) Describe the Outpatient
Code Editor. (Points : 30)Question 4. 4. (TCO 1) What is the
primary provision of the EMTALA. (Points : 3Question 5.5.(TCO 3)Use
the following data to calculate the variances in problem.
Your hospital has been approached by a major HMO to perform all
their MS-DRG 470 cases (major joint procedures). They have offered
a flat price of $10,000 per case. You have reviewed your charges
for MS-DRG 470 during the last year and found the following
profile:Estimate the variable cost per MS-DRG 470 using the
departmental cost/charge ratios and variable cost
percentages.(Points : 10)Question 6. 6. (TCO 2) How are revenues
and expenses defined under accrual accounting? (Points :
10)Question 7. 7. (TCO 2) What is an accounting entity? (Points :
10)