Hsm 340 Midterm Exam Solution Health Services Finance

HSM 340 Midterm Exam Solution Health Services Finance
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HSM 340 Midterm Exam Solution Health Services Finance

Question 1.1. (TCO 4) Which of the following is part of a statistics budget?

Output expectations
Responsibility for estimation
Estimation methodology
All of the above


Question 2.2. (TCO 4) Which budgetary issue causes the most strife in all areas of a health care organization?

Setting volume levels
Setting prices
Allocation of indirect costs
Deciding whether to use a fixed or flexible budget


Question 3.3. (TCO 4) Effectiveness is a relationship between:

Outputs and organizational goals
Inputs and outputs
Inputs and organizational goals
None of the above.


Question 4.4. (TCO 3) Estimate the total variable cost (i.e., including both routine and ancillary) per MSDRG 505 using the departmental cost/charge ratios and variable cost percentages. (Your answer might be slightly different due to rounding. Pick the closest.)

$5,213
$3,892
$7,613
$5,452
$8,070


Question 5.5. (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 treatment
Low Medicare payment
High prices
Low prices


Question 6.6. (TCO 2) A statement that reports the financial position (assets, liabilities, and stockholders’ equity) of an accounting entity at a point in time is called a(an):

Income statement
Statement of retained earnings
Balance sheet
Statement of cash flows
Report of management




Question 7.7. (TCO 2) Which of the following is the BEST example of a financial metric?

Degree of innovation
Employee empowerment
Accreditation by the Joint Commission on Accreditation of Healthcare Organizations
Total margin
Length of stay


1. (TCO 4) Based on...