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OMIS 695 Exam 1 Question and answers correctly solved

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OMIS 695 Exam 1 Question and answers correctly solved OMIS 695 Exam 1 Reasons organizations need earnings to exceed costs - correct answer 1. maintain or grow facilities and services 2. receive the lowest cost of capital, through bonds or loans 3. invest in new equipment and technologies,...

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  • November 6, 2024
  • 17
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • omis 695 exam 1
  • omis 695 exam 1 question and answers correctly sol

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OMIS 695 Exam 1
Reasons organizations need earnings to exceed costs - correct answer ✔1.
maintain or grow facilities and services
2. receive the lowest cost of capital, through bonds or loans
3. invest in new equipment and technologies, or
4. compete effectively


Factors driving increased costs - correct answer ✔1. consumers live longer
and utilize more health services
2. cost of medical technology and equipment continues to rise
3. labor costs are growing steadily
4. pharmaceutical supply expenses are constantly increasing, and consuming
a greater percentage of health resources
5. a strict managed care approach, which limits access and reimbursement,
has diminished somewhat


difficulties in running healthcare facilities - correct answer ✔1. lack of clarity
2. complex organizational structures
3. ambiguous working relationships
4. power struggles


primary roles of operations managers - correct answer ✔1. reduce costs
2. reduce variability and improve logistical flow
3. improve productivity
4. provide higher quality services
5. improve business procedures

,1. standardization 2. optimization 3. resource tracking systems - correct
answer ✔What is/are the evolving trend for reducing costs?


1. integrated service delivery 2. analytics 3. supply chain management -
correct answer ✔What is/are the evolving trends for reducing variability and
improving logistical flow?


IT ROI - correct answer ✔What is/are the evolving trends for improving
productivity?


1. evidence based healthcare 2. six sigma - correct answer ✔What is/are the
evolving trends to provide higher quality services?


1. outsourcing 2. globalization - correct answer ✔What is/are the evolving
trends for improving business processes?


historical view of a hospital - correct answer ✔a facility to service those who
require overnight stays or surgeries; a place to die


current view of a hospital - correct answer ✔an entity organized around the
observation, diagnosis, and treatment of patients


Integrated Delivery Network (IDN) - correct answer ✔any combination or
integration between a hospital and other providers, that works together
collaboratively across a spectrum of care to provide more competitive and
comprehensive services


community hospitals - correct answer ✔generally deal with acute care
situations

, federal hospitals - correct answer ✔department of veterans affairs


general hospitals - correct answer ✔providing a broad range of services


specialty hospitals - correct answer ✔focused on a specific condition


rehabilitation hospitals - correct answer ✔restoring health after initial
hospitalization


psychiatric hospital - correct answer ✔providing behavioral services


teaching hospitals - correct answer ✔usually larger, wider array of more
complex services, mission is to teach and train new doctors and healthcare
professionals


Trends healthcare industry has created - correct answer ✔1. shift to
managed care which has created pricing pressure
2. reimbursement caps have necessitated hospital changes


Required revenues and finances - correct answer ✔1. health care
organizations command large amounts of resources and therefore finances
2. to fully utilize operations management, it is necessary to be able to trace all
costs and revenues for processes back to the general ledger


Medicare - correct answer ✔federal program for the elderly, disabled, and
persons with ESRD

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