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CMOM Module 3 Test Questions with Answers
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CMOM Module 3 Test Questions with Answers Considerations for forecasting revenue for new services - Answer--number of projected new services for the year -fee schedule for individual services Forecasted Revenue - Answer-(# of new services) x (fee schedule) Fixed Costs - Answer-expenditures ...

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  • August 2, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • CMOM
  • CMOM

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CMOM Module 3 Test Questions
with Answers

Considerations for forecasting revenue for new services - Answer--number of projected
new services for the year
-fee schedule for individual services

Forecasted Revenue - Answer-(# of new services) x (fee schedule)

Fixed Costs - Answer-expenditures that do not change in the short term

Variable Costs - Answer-expenditures that will change according to how many times the
service is performed

Cost Factors for medical office - Answer--administrative
-support personnel
-supplies
-physician

Cost per procedure - Answer-Calculated by determining the cost to perform a procedure
once

Characteristics Suggested by High Overhead - Answer--low patient volume
-inefficient administrative management
-overstaffing, inefficient staffing
-poorly negotiated managed care contracts
-lack of discipline to manage expenses
-lack of strategic planning

Characteristics Suggested by Low Overhead - Answer--inequitable high fees
-lack of proper patient management
-failure to deliver high-quality medical care
-understaffing and low benefit and salary standard

Accounts Receivable Report - Answer-indicates the effectiveness of the collections
department

Flash Report - Answer-an excellent method of communicating patient stats and financial
information
-should be no longer than one page
-aka Dashboard

, Net Collection Ratio - Answer-this number reflects the ratio of dollars that are actually
collected versus what should have been collected

Expense to Earning Ratio - Answer-this number may vary on practice locality, speciality,
payers and number of providers
-50% or (1:2) ratio is considered to be fairly efficient

Common Credit adjustments - Answer--contractual adjustment
-credit posting error
-bad debt adjustment
-returned check credit
-deceased account adjustments
-medicaid recoupment


Gross Collection Ratio - Answer-(Total Collections) / (gross charges)

Average Months in A/R - Answer-(Total A/R for the past month) / (average monthly
billing for the past 12 months)

Total Expenses Per patient - Answer-(Total Expense) / (Total Number of patients)

Average Billing per Patient - Answer-(Total billing per month or year) / (total number of
patients by month or year)

Average Net Collections Per Patient - Answer-(total net collections per month or year) /
(Total number of patients by month or year)

Average Cost Per patient - Answer-(Total Variable expenses per month or year) / Total
number of patients by month or year)

Net Collection Ratio - Answer-(Total Collections) / (Total Charges - adjustments)

Expense to Earnings Ratio (Overhead Ratio) - Answer-(Expenses) / (Net Collections)

Average Collection Period - Answer-(Accounts Receivable) / Average Daily Charges

Budget - Answer--assists the practice in measuring projected financial goals with the
actual financial performance
-projects revenue expenditures
-helps determine cost containment and revenue requirements

Aspects to consider for establishing goals - Answer--number of providers
-services provided
-facility
-support personnel
-patient load

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