Hadm 3351 Study guides, Class notes & Summaries

What accounting structure is used for small practices? - Cash Basis What accounting structure is used for larger practices? - Accrual Basis What is capitation? - Method of payment where the third-party payer (HMO or insurance) pays the provider group a set rate per member per month for a specific set of medical services. What is the purpose of gross collection percentage? - Measures the percentage of gross charges for which cash payments are received What are Stark Laws? - prohibits ...

HADM 3351 TEST 2 What accounting structure is used for small practices? - ANS Cash Basis What accounting structure is used for larger practices? - ANS Accrual Basis What is capitation? - ANS Method of payment where the third-party payer (HMO or insurance) pays the provider group a set rate per member per month for a specific set of medical services. What is the purpose of gross collection percentage? - ANS Measures the percentage of gross charges for which cash payments a...

HADM 3351 Test RBRVS is made up of which 3 objectives? - ANS 1. Professional work 2. Practice expense 3. Malpractice Understanding Cash and accrual and who might use each one. - ANS - The cash basis recognizes revenue when payment is received and records expenses when paid, the cash basis standard most likely had its roots in small practices and sole proprietorship. - The accrual method recognizes revenue when earned and records expenses when incurred, the large number of med...

QUESTIONS AND ANSWERS

QUESTIONS AND ANSWERS

HADM 3351 - Extensive Exam 1 Review is the provision of health care services by a group of at least three licensed physicians engaged in a formally organized and legally recognized entity: sharing equipment, facilities, common records, and personnel involved in both patient care and business management." - ANS Medical group practice;A group practice involves two or more physicians who all provide medical care within the same facility. - ANS Medical group practice;What type of group p...

HADM 3351 Test 3 Clayton Act - ANS Defines unethical business practices, such as prefixing, monopolies, and various rights groups How does physician training condition physicians to think about patient care? - ANS Helps them think of quality management and evaluation and how it reflects on the care of the patients If you have a shared partnership model, what should the focus of the partnership be? Does that focus include hospitals and physicians to meet with a shared strategy? -...