The following questions concern the appropriate accounting for a private not-for-profit health care entity. Write complete answers
Question:
a. What is a third-party payor, and how have third-party payors affected the development of accounting principles for health care entities?
b. What is a contractual adjustment, and how does a health care entity record this figure?
c. How does a not-for-profit health care entity account for donated materials and services?
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Step by Step Answer:
a A thirdparty payor is an organization such as Medicare or an insurance company that pays a portion or all of a patients medical expenses Because of ...View the full answer
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Related Book For 
Advanced Accounting
ISBN: 978-0077431808
10th edition
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
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