Simple variance is calculated by determining:

• A. Revenue after operating expenses are subtracted
• B. The differences between the budget projection and the actual results
• C. Actual gross revenue subtracted from budgeted gross net revenue
• D. Actual net revenue divided by the budgeted revenue

Which of the following Medicare programs cover only prescription drugs?

• A. Part D
• B. Part C
• C. Part B
• D. Part A

The new business models appearing in today's environment call for organizations to have a solid understanding of:

• A. Revenue optimization and cost
• B. Cost and utilization of healthcare resources
• C. Consumer demands and preferences
• D. The evolving role of technology

What are net assets or equity?

• A. That which is available for expenses
• B. That which is owed
• C. That which is owned
• D. That which is kept after liabilities

Providers of care brought together in one group to manage the care of a select population of patients to reduce the cost of care for those patients while improving the quality is known as:

• A. Integrated patient care
• B. A medical home
• C. An integrated care organization

• D. An Accountable Care Organization

Volume variance is calculated using this formula:

• A. (Actual volume – Budgeted volume) x Budgeted rate
• B. (Actual volume + Adjusted budgeted volume ) x Budgeted rate
• C. (Adjusted budgeted volume x Budgeted rate) + Actual volume
• D. (Actual volume + Adjusted budgeted volume) x Adjusted budgeted rate

Total cost =

• A. Total expense - Variable costs
• B. Net revenue - Fixed costs
• C. Annual expenses
• D. Fixed costs + Variable costs

A cost shifting price strategy involves:

• A. Focusing on reducing indirect costs
• B. Critically assessing indirect costs to provide a service and looking to reduce those costs or shift those costs to other customers who are willing to pay a higher price per unit of service
• C. Establishing a sliding price scale in which the price drops when a minimum profit threshold is reached in an attempt to grow volume

• D. Negotiating with suppliers and vendors on pricing that drives down direct costs in order to provide competitive pricing and access to markets for the vendor

(Actual rate or price – budget rate or price) x actual volume is the calculation for:

• A. Net revenue variation
• B. Rate variation
• C. Adjusted pricing variation
• D. Volume variation

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