Question: 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.
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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