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MHA 706 Midterm- Lord Questions and Answers (Graded A)
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MHA 706 Midterm- Lord Questions and Answers (Graded A)MHA 706 Midterm- Lord Questions and Answers (Graded A)MHA 706 Midterm- Lord Questions and Answers (Graded A)MHA 706 Midterm- Lord Questions and Answers (Graded A) Proprietorships & Partnerships: Pros & Cons - ANSWER-Pros: Ease of Information, S...

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  • October 10, 2024
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • mha 706 midterm lord questions and answers grade
  • mha 706 midterm lord questions and answers
  • proprietorships partnerships pros cons ans

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MHA 706 Midterm- Lord Questions

and Answers (Graded A)


Proprietorships & Partnerships: Pros & Cons - ANSWER-Pros: Ease of

Information, Subject to a few regulations, no corporation income taxes.

Cons: Limited life, difficult to transfer, unlimited life, difficult to raise capital.




Corporations: Pros & Cons - ANSWER-Pros: Unlimited life, easy transfer of

ownership, limited liability, ease of raising capital.

Cons: Cost of formation and reporting, double or triple taxes must be paid.




Non-profit Organization - ANSWER-Exempt from taxes. Goal is to improve

community.




For-profit Organizations - ANSWER-(Investor Owned) Goal is to maximize

shareholder return. Owe taxes.

,Medicare reimbursement for different types of providers - ANSWER-Medicare

parts A, B & C.




Medicare Part A (aka Hospital Insurance or HI) - ANSWER-Provides hospital

insurance automatically at age 65 (if FICA qualified) at no fee but may have

deductible & co-pay.




Medicare Part B - ANSWER-The part of the Medicare program that pays for

physician services, outpatient hospital services, durable medical equipment,

and other services and supplies.




Medicare Part C (Medicare Advantage) - ANSWER-•Replaces and covers

expenses found in Part A and B

•Medicare private fee-for-service plans (PFFS)

•Medicare managed care plans (HMOs and PPOs)

•Medicare specialty plans




Medicare—Part D Prescription Drug Coverage - ANSWER-a United States

federal-government program to subsidize the costs of prescription drugs and

prescription drug insurance premiums for Medicare beneficiaries.

, Agency Problem - ANSWER-the possibility of conflict of interest between the

stockholders and management of a firm.




Example: Hire someone to carry out a job function, but they go out of their

interests instead of best interests of company/organization.




Third-party payor system in the US (i.e. private vs public) - ANSWER-Private:

Blue Cross Blue Shield, Commercial Insurers, Self-Insurers. (AETNA)




Public: Medicare and Medicaid-both offer services to different levels. "Safety

net" Lowest reimbursement rates.




Reimbursement methods (fee-for-service vs. capitation) - ANSWER-Fee for

Service: payment is tied to amount of services provided. (Decades ago)

*Dental industry*




Capitation: payment is tied to the size of the covered population (number of

enrollees) Payment is based on per # per month. *Decreasing utilization*

Population is healthier.




Accounting Equation - ANSWER-Assets = Liabilities + Equity

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