LSUS MHA 706 Midterm Questions and Answers Graded A+
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Course
LSUS MHA 706
Institution
LSUS MHA 706
LSUS MHA 706 Midterm Questions and
Answers Graded A+
Question: What is the primary goal of healthcare financial management?
Answer: The primary goal of healthcare financial management is to ensure that healthcare
organizations have the financial resources to provide high-quality patient ca...
needs, plan for capital investments, manage cash flow, and prepare for potential changes in
revenue or expenses, ensuring the long-term financial stability of the organization.
Question: How do healthcare organizations determine the price of services?
Answer: ✔✔ Pricing is determined by analyzing the costs of providing services, considering
market rates, understanding payer reimbursement rates, and factoring in the organization’s
financial goals and the need to remain competitive.
Question: What is the importance of a break-even analysis in healthcare?
Answer: ✔✔ Break-even analysis is crucial for determining the point at which revenue from
services covers the costs of operations, helping administrators make informed decisions about
pricing, service expansion, and cost control.
Question: How does Medicare reimbursement impact healthcare providers?
Answer: ✔✔ Medicare reimbursement impacts providers by setting standard rates for services,
which may be lower than those from private insurers, requiring providers to manage costs
efficiently and potentially influencing the mix of services offered to maximize reimbursement.
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