100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
DLM(ASCP) EXAM ACTUAL EXAM 230 REAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES $11.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. 2024/2025
  4.  
  5. 2024/2025

Exam (elaborations)

DLM(ASCP) EXAM ACTUAL EXAM 230 REAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES
 0 view  0 purchase
  • Course
  • 2024/2025
  • Institution
  • 2024/2025

DLM(ASCP) EXAM ACTUAL EXAM 230 REAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES Project Volumes (forecasting stage) - Answer️️ -based on expert opinion, stats, historical data, shifts in patient mix, changes in medical staff composition, changes in inflation/reimbursement ...

[Show more]

Preview 4 out of 35  pages

Document information

  • September 18, 2024
  • 35
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • dlmascp exam actual exam 230 real exam

Written for

  • 2024/2025
  • 2024/2025

Seller

avatar-seller
EmillyCharlotte

Reviews received

Content preview

TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024


DLM(ASCP) EXAM 2024-2025 ACTUAL EXAM
230 REAL EXAM QUESTIONS AND CORRECT
DETAILED ANSWERS WITH RATIONALES

Project Volumes (forecasting stage) - Answer✔️✔️-based 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 - Answer✔️✔️-1. 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 - Answer✔️✔️-Rates x Production Unit (Billable test volume)

Expenses - Answer✔️✔️-salaries/wages, reference service, instrument lease,

maintenance contracts, education/travel

Financial Statements - Answer✔️✔️-convey the financial status of an organization

4 main types - income statement, balance sheet statement of changes in equity and

statement of cash flows.

,TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024

income statement - Answer✔️✔️-summarizes the operations of an organization with a

focus on its revenues, expenses, and profitability. contains operational results over a

period of time.

depreciation - Answer✔️✔️-noncash 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 - Answer✔️✔️-amount received when final disposition occurs at end of the

asset's useful life.

annual depreciation - Answer✔️✔️-(initial cost - salvage value)/ useful life

Profit - Answer✔️✔️-net income -expense

cashflow - Answer✔️✔️-net income + depreciation

Total Profit Margin - Answer✔️✔️-Net income divided by total revenues. It measures the

amount of total profit per dollar of total revenues.

fixed costs - Answer✔️✔️-cost not related to the volume of services delivered (ex.

facilities cost, lab admin, instrument leases, maintenance contracts)

variable cost - Answer✔️✔️-directly related to the volume of services delivered (ex.

supplies, labor costs)

Profit Analysis - Answer✔️✔️-technique use to analyze the effects of volume changes on

profit. can also be used to analyze effects of volume changes on costs.

Total Costs - Answer✔️✔️-fixed costs + variable costs

,TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
Variable costs = variable cost rate x volume

contribution margin - Answer✔️✔️-difference 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 - Answer✔️✔️-Volume 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 - Answer✔️✔️-occurs when all accounting costs plus a profit target

are covered

total revenue - total variable cost- fixed cost = profit

Surcharge/Cost Plus - Answer✔️✔️-used for reference/send out testing. Determine cost

of doing a procedure then add markup factor to get appropriate price.

weight value basis - Answer✔️✔️-each test performed is assigned a weight based on

cost of performing the test in relation to the procedure.

patient day factor - Answer✔️✔️-the number of patients in a hospital on a given day.

(average patient day/ daily census for the year) x 365

tests per patient days - Answer✔️✔️-test volume/ patient days

revenue per test - Answer✔️✔️-gross revenue/test volume

direct costs - Answer✔️✔️-test-specific costs (Variable)

, TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024
examples - supplies, instrumentation, reagents, tech time

indirect cost - Answer✔️✔️-remain constant

examples - lab admin, medical records, house keeping, utilities, etc. (fixed/semi-

variable)

unit costs - Answer✔️✔️-total direct + indirect expenses

Employment cycle - Answer✔️✔️-covers 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 - Answer✔️✔️-institutional 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 - Answer✔️✔️-specimen collection, prep, instrument

analytical time - Answer✔️✔️-performing/resulting tests

post analytical time - Answer✔️✔️-reporting and routine maintenance

total hours - Answer✔️✔️-productive hours + nonproductive hours

productive hours - Answer✔️✔️-actual worked hours includes overtime and training

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller EmillyCharlotte. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $11.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

75323 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$11.49
  • (0)
  Add to cart