Question: What is a third party payor and how does the presence
What is a third-party payor, and how does the presence of such payors affect the financial accounting of a health care organization?
Answer to relevant QuestionsWhat is a contractual adjustment? How does a health care organization account for a contractual adjustment?What is the difference between an unconditional promise to give and an intention to give?Under Lennon Hospital’s rate structure, it earned patient service revenue of $9 million for the year ended December 31, 2010. However, Lennon did not expect to collect this entire amount because it deemed $1.4 million to ...During Year 1, the organization received a gift of $80,000. The donor specified that this money be invested in government bonds with the interest to be used to pay the salaries of the organization’s employees. The gift was ...Go to the Web site of a private not-for-profit college or university such as Duke (www.duke.edu), Vanderbilt (www.vanderbilt.edu), Notre Dame (www.nd.edu), or Georgetown (www.georgetown.edu) and locate the latest set of ...
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