Hfma test 1 - Study guides, Class notes & Summaries

HFMA Test Part 1: Questions & Verified Answers

HFMA TEST 1

Definition of cost - Answer Can be the amount paid for the service. It can also be the amount paid for salaries or to other vendors Direct Cost - Answer Are the costs that can be traced directly to a department, product, or service (Salaries, Employee benefits, medications, supplies, aging and equipment maintenance contract Direct cost in a health Plan - Answer Would be the actual claims payments made by the plan on behalf of its members indirect costs - Answer Are the cost nece...

HFMA TEST 1

HFMA TEST 1

HFMA Test Part 1 (109 questions) with correct answers

HFMA TEST 1

HFMA Test 7: Contracts | Questions and Correct Answers | Latest Update 2024/2025 Purpose of Contracts - Answer -Purpose Contracts will be used to define terms between two or more parties for the provision of a service or product. In health care, contracts are used for: Health plan or payer agreements. Construction projects. Collection services. Maintenance on equipment. Leasing space. Employment of contracted staff, and a variety of other itemsFor a contract to be valid, individual m...