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MHA 706 Module 1 (LSUS MHA 706) with Complete SolutionsMHA 706 Module 1 (LSUS MHA 706) with Complete SolutionsMHA 706 Module 1 (LSUS MHA 706) with Complete SolutionsMHA 706 Module 1 (LSUS MHA 706) with Complete SolutionsHealthcare Finance - ANSWER-is the practice of finance, including both accounti...

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  • October 10, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • mha 706 module 1 lsus mha 706 with complete solu
  • mha 706 module 1 lsus mha 706 stuvia
  • healthcare finance answer is the practice of fin

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MHA 706 Module 1 (LSUS MHA

706) with Complete Solutions


Healthcare Finance - ANSWER-is the practice of finance, including both

accounting and financial management, within health services (provider)

organizations




Accounting - ANSWER-concerns the measurement, in financial (dollar) terms,

of events that reflect the resources, operations, and financing of an

organization




Financial managment - ANSWER-provides the theory, concepts, and tools

necessary to help managers make better financial decisions




Business characteristics - ANSWER--obtains financing from the marketplace

-uses the funds to buy assets

-operates the assets to provide goods or services

-sells the goods or services to create revenue

, Disadvantages of corporations - ANSWER-cost of formation and reporting and

double taxation for investor-owned corporations




Limited liability partnership LLP - ANSWER-◦Partners share general business

liability, but partners are liable only for their own malpractice actions




Limited liability company LLC - ANSWER-Members are taxed like partners

and Liability like stockholders




Pure Charity - ANSWER-refers to an undertaking for a charitable purpose

only. The relief of poverty, advancement of education, advancement of

religion, promotion of health, the obtaining of good government, and the

accomplishment of that which is beneficial to the community in any other

respect are pure charities.




Primary role of finance - ANSWER-is to plan for, acquire, and utilize resources

to maximize the efficiency (and hence value) of the enterprise.




The Four C's - ANSWER-cost minimization

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