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Quiz Health Care Management Part 2 of 2

Quiz Health Care Management Part 2 of 2

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Published by MedShare
Quiz Health Care Management Part 2 of 2
Quiz Health Care Management Part 2 of 2

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Published by: MedShare on Apr 15, 2009
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07/29/2014

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Health Care Management Part 2 14Mar2009DO NOT DISTRIBUTE - 1 -
HCM #1 – Medical Practice Management: Financial Success
1) Which of the following is NOT a response to change in medical practice?a) Health plan consolidation b) Pay for performancec) Physician-driven health insuranced) Changes in delivery systeme) Technology2) In Pennsylvania, what is the cost for insuring children who qualify for the Children’sHealth Insurance Plan (CHIP)?a) $1000 / year  b) $100 / monthc) 10% of parent’s incomed) 5% of parent’s incomee) Free3) According to the Modern Physician’s Compensation Survey in 2006-07, which of thefollowing did NOT see a large average increase in total annual compensation?a) Oncology b) Pathologyc) Psychiatryd) Family practicee) Orthopedic surgeryf) Neurology4) According to the 2007 Cejka Search and ACPE Physician Executive CompensationSurvey, which of the following degrees is the most common at nearly 20% of physicians?a) MBA b) MPHc) MMMd) MHA5) TransforMED is a program to implement a patient-centered, collaborative model for which type of physicians?a) Internal medicine b) Family practicec) Anesthesiologyd) Cardiologye) Pathology6) Which of the following phrases best describes handling financial accounting inmedical practice?a) You win some, you lose some b) That which gets measured, gets managedc) If you want quick and effective results you must put money ind) Sometimes your best investments are the ones you don’t makee) Show me the money7) Which of the following describes net income, which contains operational results over aspecified period of time?a) Expenses + Revenues = Net Income b) Expenses - Revenues = Net Income
 
Health Care Management Part 2 14Mar2009DO NOT DISTRIBUTE - 2 -c) Revenues + Expenses = Net Incomed) Revenues - Expenses = Net Incomee) Revenues * Expenses = Net Income8) Which of the following describes capitation?a) Amount shown is less than clinic’s gross charges for services provided b) Services are paid on the basis of utilizationc) Premium revenue reported at start of each contractd) Interest on investments, contributions, consultinge) Net gain9) Which of the following ist he dominant portion of a clinic’s cost structure?a) Labor  b) Medical suppliesc) Purchased medical servicesd) Depreciation expensee) Provision for bad debtsf) Interest expenses10) What is the most important piece of information on an income statement (profit andloss statement)?a) Net income b) Income before taxesc) Operating profitd) Selling expensese) Profitability11) Financial condition depends, at least in the short run, more on _____ into and out of the business than reported ____.a) Net income; Cash flow b) Cash flow; Net incomec) Rough estimate; Cash flowd) Cash flow; Rough estimatee) Rough estimate; Net income12) A balance sheet gives a snapshot of the financial position of an organization at agiven point of time and involves assets, liabilities, and equity. Which of the followingdescribes assets?a) Liabilities + Equity = Assets b) Liabilities - Equity = Assetsc) Equity - Liabilities = Assetsd) Equity * Liabilities = Assetse) Liabilities / Equity = Assets13) Long-term investments is money invested in securities whose maturities exceed whattime frame?a) 1 day b) 1 monthc) 1 quarter d) 1 year e) 1 decade14) Which of the following describes profit margin?
 
Health Care Management Part 2 14Mar2009DO NOT DISTRIBUTE - 3 -a) Net income + Total revenues = Profit margin b) Net income - Total revenues = Profit marginc) Total revenues - Net income = Profit margind) Total revenues * Net income = Profit margine) Net income / Total revenues = Profit margin15) Which of the following describes return on investment?a) Net income + Total assets = Return on investment b) Net income - Total assets = Return on investmentc) Total assets - Net income = Return on investmentd) Total assets * Net income = Return on investmente) Net income / Total assets = Return on investment16) Which of the following describes current ratio?a) Current assets + Current liabilities = Current ratio b) Current assets - Current liabilities = Current ratioc) Current liabilities - Current assets = Current ratiod) Current liabilities * Current assets = Current ratioe) Current assets / Current liabilities = Current ratiof) Current liabilities / Current assets = Current ratio17) Which of the following describes days cash on hand?a) Cash - Short-term investments / (Expenses - non-cash expenses) / 365 b) Cash - Short-term investments / (Expenses + non-cash expenses) / 365c) Cash + Short-term investments / (Expenses - non-cash expenses) / 365d) Cash + Short-term investments / (Expenses + non-cash expenses) / 36518) Which of the following (in standard deviations) is defined as 3.4 defects per millionopportunities?a) One Sigma b) Two Sigmac) Three Sigmad) Four Sigmae) Five Sigmaf) Six Sigma19) About how many sigmas (standard deviations) is 99%, which would mean 50,000incorrect surgical operations per year and 200,000 wrong drug prescriptions each year?a) One b) Twoc) Threed) Four e) Five20) For accounts receivable (A/R) to be within normal limits, it would have to be lessthan ____ total gross charges.a) One month b) Two monthsc) Three monthsd) Four monthse) Five months21) What is a good goal for adjusted collection rates?

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