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DLM (ASCP) Exam 2024/2025 (100% verified)
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DLM (ASCP) Exam 2024/2025 (100% verified)
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DLM (ASCP) ExamProject Volumes (forecasting stage) - ANSbased on expert opinion, stats, historical data, shifts
in patient mix, changes in medical staff composition, changes in inflation/reimbursement ratws,
expansion/cutbacks, population fluctuations based on economy
Steps to creating a budget - ANS1. project volumes
2. convert volumes to revenue
3. convert volumes into expense requirements
4. Adjust revenue/ expenses as necessary to meet budget margin
gross revenue - ANSRates x Production Unit (Billable test volume)
Expenses - ANSsalaries/wages, reference service, instrument lease, maintenance contracts,
education/travel
Financial Statements - ANSconvey the financial status of an organization
4 main types - income statement, balance sheet statement of changes in equity and statement
of cash flows.
income statement - ANSsummarizes the operations of an organization with a focus on its
revenues, expenses, and profitability. contains operational results over a period of time.
depreciation - ANSnoncash charge against earnings on income statement that reflect the "wear
and tear" on a business' fixed assets (property and equipment). loss of value
salvage value - ANSamount received when final disposition occurs at end of the asset's useful
life.
annual depreciation - ANS(initial cost - salvage value)/ useful life
Profit - ANSnet income -expense
cashflow - ANSnet income + depreciation
Total Profit Margin - ANSNet income divided by total revenues. It measures the amount of total
profit per dollar of total revenues.
fixed costs - ANScost not related to the volume of services delivered (ex. facilities cost, lab
admin, instrument leases, maintenance contracts)
variable cost - ANSdirectly related to the volume of services delivered (ex. supplies, labor costs)
,Profit Analysis - ANStechnique use to analyze the effects of volume changes on profit. can also
be used to analyze effects of volume changes on costs.
Total Costs - ANSfixed costs + variable costs
Variable costs = variable cost rate x volume
contribution margin - ANSdifference between per unit revenue and per unit variable cost. gives
the amount left to cover the fixed costs. after fixed costs are covered what's left contributes to
the profit.
accounting breakeven - ANSVolume needed to produce zero profit. Revenues cover all
accounting costs.
Total Revenue (cost x volume) - Total Variable (variable cost rate x volume) - fixed costs = $0
economic breakeven - ANSoccurs when all accounting costs plus a profit target are covered
total revenue - total variable cost- fixed cost = profit
Surcharge/Cost Plus - ANSused for reference/send out testing. Determine cost of doing a
procedure then add markup factor to get appropriate price.
weight value basis - ANSeach test performed is assigned a weight based on cost of performing
the test in relation to the procedure.
patient day factor - ANSthe number of patients in a hospital on a given day.
(average patient day/ daily census for the year) x 365
tests per patient days - ANStest volume/ patient days
revenue per test - ANSgross revenue/test volume
direct costs - ANStest-specific costs (Variable)
examples - supplies, instrumentation, reagents, tech time
indirect cost - ANSremain constant
examples - lab admin, medical records, house keeping, utilities, etc. (fixed/semi-variable)
unit costs - ANStotal direct + indirect expenses
Employment cycle - ANScovers all stages in the process of employing staff:
1. recruitment and acquisition costs (pre-employment screen)
2. training/developmental costs (ongoing)
3. productive/operational periods
4. termination/separation of employee from institution costs
, analyze labor costs - ANSinstitutional labor cost evaluation (employment cycle)
technical evaluation of labor cost - assign labor costs to production activities that generate
expenses. helps manager identify where efforts are being expended and productivity
accounting and budgeting labor analysis - helps monitor staffing levels, productivity and
management performance against budget objectives
preanalytical time - ANSspecimen collection, prep, instrument
analytical time - ANSperforming/resulting tests
post analytical time - ANSreporting and routine maintenance
total hours - ANSproductive hours + nonproductive hours
productive hours - ANSactual worked hours includes overtime and training
nonproductive hours - ANScompensated but not worked. sick leave, vacation, bereavement,
etc.
Full-time equivalent (FTE) - ANSAn employee who works full-time, 40 hours per week, 2080
hours per year (total number of hours paid/ 2080)
171 or 177 hours - per month
Productivity Measurement - ANSworkload unit (WLU)/ labor units
time studies - ANStime required for handling, testing, recording and reporting, daily and periodic
activities, maintenance and repair, and direct technical supervision.
paid productivity - ANStests/ number paid hours
number of tests performed per paid hour.
worked productivity - ANStests/ number worked hours
number of tests performed per worked hour
projected salary - ANStotal paid hours x average hourly rate
average hourly rate - ANSsalary expense/ paid hours
supplies - ANSmeet specific time and price criteria. have shelf life of less than a year.
economic ordering quantity (EOQ) - ANSOptimum amount to order at one time
economic ordering point (EOP) - ANSbase/safety level for reordering
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