For-profit hospital management must strike a balance between their fiduciary responsibilities to the owners of the company and their mission of providing acceptable-quality healthcare services to the community. Select one: O True False
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- Suppose you were the financial manager of a not-for-profit business (a not-for-profit hospital). What kinds of goals do you think would be appropriate?The following questions concern the appropriate accounting for a private not-for-profit health care entity. Write complete answers for each question. What is a third-party payor, and how have third-party payors affected the development of accounting principles for health care entities? What is a contractual adjustment, and how does a health care entity record this figure? How does a not-for-profit health care entity account for donated materials and services? How does a not-for-profit health care entity account for donated materials and services?The practice of for-profit hospitals transferring charity patients to not-for-profit hospitals is known as? A. Dumping B. Cost plus accounting C. Diagnosis related groups D. Cost shifting
- Community benefits serve as justification for a non-profit healthcare organization's tax-exempt status. True or FalseWhat have been the consequences of BC/BS conversion from not-for-profit to for-profit status in terms of market share, patient access, quality of care, and cost of care?Which of the following entities would consider portions of the AICPA Audit and Accounting Guide: Health Care Entities category b authoritative guidance? A business-type government hospital. A not-for-profit hospital. A for-profit hospital. All of the above.
- A nonprofit hospitals revenues and expenses are reported on its statement of activities TRUE or FALSE?Which of he following stalements is CORRECT about benefits provided by a Basic Hospital and Surgical policy? A.They are lower than he actual expenses incurred B.They are subject to large deductibles C.They are higher than those provided by Major Medical policies D.They are unlimited.Which is Idemenity Plan and which is Managed Care Plan? Insureds create contract with an insurer who does not provide health care services The higher the deductible, the lower the premium Insured receive health care services from a designated group of providers May not even involve an insurance company No annual deduction is incurred, but a small co-payment may be required I most value the freedom of choice and am willing to pay for it. Cost is my most important consideration. I’d rather have the flexibility of either having the insurance company reimburse me or directly paying the health care provider.
- “Financing Health Care in a Time of Insurance Restructuring” Please respond to the following:Analyze the impact of financing the present U.S. health care system and the consequential ramifications for citizens. Rationalize the use of dwindling funds to support the burgeoning U.S. health difficulties in a time of other competitive national interests.Evaluate the levels of affordability and accessibility of different health services protocols that apply to working Americans and senior citizens under the U.S. health insurance umbrella. Rationalize the use of taxpayers funding for uninsured and economically challenged individuals.A Voluntary Health & Welfare NFP would include which of the following financial statements in its basic financial statements? Statement of financial position and statement of activities Statement of financial position, statement of activities, and statement of cash flows Statement of financial position, statement of activities, statement of cash flows, and statement of functional expenses Statement of financial position, statement of activities, and statement of functional expenses Choose oneWhich of the following statements is true regarding postretirement health care benefit obligations and their accounting? a. The estimates involved in accounting for such benefits are generally less complex than those associated with accounting for pensions. b. Such benefits are usually provided as part of a defined contribution postretirement benefits plan. c. Employers usually offer multiple varying tiers of coverage based on beneficiaries’ length of service with the company. d. The gross cost of providing such coverage is commonly offset by government-provided health insurance.