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HSML 6209 EXAM 1 (SOLVED) CORRECTLY WITH A GUARANTEED PASS!!
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HSML 6209 EXAM 1 (SOLVED) CORRECTLY WITH A GUARANTEED PASS!!
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HSML 6209 EXAM 1 (SOLVED) CORRECTLYWITH A GUARANTEED PASS!!
Board of Trustees Answer - -responsible for the duties of the corporation
-day to day responsibilities given to CEO
-have finance committee on board (financial oversight, goals)
Chief Financial Officer (CFO) Answer - -report to the CEO
-3 main groups report to them: controller, Chief Revenue Officer, and others
Branches reporting to Controller Answer - -general ledger
-payroll
-accounts payable and fixed assets
Controller Answer - the chief accounting officer in an organization
responsible for financial, managerial, tax, patient accounting, and internal
auditing
report to the CFO
General Accounting/financial reporting Answer - process journal entries
produce internal and external financial statements
prepare supporting schedules for financial statements
,work with external auditors
Accounts payable Answer - establish payment relations with vendors (equip,
food) including tax info
process payments to vendors (pay bills)
Payroll Answer - supply and monitor time clock reporting
process paychecks for employees
pay taxes and benefits on your behalf
Purchasing Answer - manage the purchase order process, approve and make
purchases
secure best prices
monitor GPO relationships and contracts
ensure bidding processes are followed
Materials Management Answer - manage inventory and supplies (order &
deliver)
supplies may be kept in a warehouse or they might use just in time delivery
,Fixed assets Answer - manage all construction projects
maintain database (subledger) or fixed assets and calculate depreciation
monitor disposal of assets
coordinate personal property taxes
Budget Answer - prepare quarterly or annually operating budgets
update the capital budget
Financial analysis Answer - calculate variance analysis
calculate special project budgets
GME Cost Report Analyst Answer - if academic; about having residents and
fellows training in your organization, which have to be accounted for separately
Research Accounting Answer - if research based; whole separate piece of
accounting, very strict guidelines because receiving $$ on research grants
Chief Revenue Officer Answer - specific to healthcare provider organizations;
reports to the CFO
, includes contracting, admissions and scheduling, medical records,
chargemaster, accounts receiveable
Contracting Answer - people who negotiate revenue contracts between the
provider and insurance companies
receives reimbursement from insurance companies
work with insurers to facilitate problem-solving
monitor and analyze performance reports
Admissions and Scheduling Answer - making appointments and pre-admission
work
pre-certification and authorization
Cashiers Office Answer - collect discharge payments for patients going home
Medical Records Answer - use clinical documentation to determine coding
look in medical records and assign codes to it
scanning and attaching to the EMR when files come from outside entities
Chargemaster Answer - update new items and establish prices in databases
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