In the accounting for health care providers, what are third-party payors?a. Doctors who reduce fees for indigent patients.b. Charities that supply medicines to hospitals and other health care providers.c. Friends and relatives who pay the medical costs of a patient.d. Insurance companies and other groups that pay a significant portion of the medical fees in the United States.

In the accounting for health care providers, what are third-party payors?a. Doctors who reduce fees for indigent patients.b. Charities that supply medicines to hospitals and other health care providers.c. Friends and relatives who pay the medical costs of a patient.d. Insurance companies and other groups that pay a significant portion of the medical fees in the United States.

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter5: Deductions For And From Agi

Section: Chapter Questions

Problem 1MCQ

See similar textbooks

Similar questions

In the accounting for health care providers, what are third-party payors? Doctors who reduce fees for indigent patients. Charities that supply medicines to hospitals and other health care providers. Friends and relatives who pay the medical costs of a patient. Insurance companies and other groups that pay a significant portion of the medical fees in the United States.
What stakeholders are most interested in the financial condition of a health care business? Why is this important? What have generally accepted accounting principles (GAAP)? What is the purpose of GAAP? Explain the difference between cash accounting and accrual accounting? Why is this important?
What government programs are available to cover long-term care expenditures in the United States? How do the government programs affect the demand for private long-term care insurance by families who are currently ineligible for government-financed long-term care insurance?
Discuss the key differences between cash and accrual accounting? Explain why most health entities use accrual accounting
What is a third-party payor, and how does the presence of such payors affect the financial accounting of a health care entity?
Medicaid is provided to certain individuals and families with low income or resources. Which of the following items is not counted towards the income requirements? a. Housing assistance provided by the federal government O b. Social Security benefits O c. Pension Income O d. Veteran's benefits provided by the federal government.
State True or False: Health care in most high-income, developed nations is organized on a fee-forservice basis as it is in the United States.
8. What is the difference between a copay and coinsurance? a. Copay is typically a percentage of the health care service, coinsurance is a flat fee b. Copay is typically a flat fee, coinsurance is a percentage of the health care service c. Copay is paid by the individual when receiving a health care service, coinsurance is paid by the insurance company
When creating an Income Statement and calculating Net Patient Service Revenue, which of the accounts do you actually record as a line item on the Income Statement? O Discounts Charity Care Accounts Receivable Bad Debt
Which of the following are deductible medical expenses? Select all that apply. Nonprescription drugs (i.e., over the counter drugs) Vitamins and other health supplements A gym membership Visiting a dentist for a teeth clearning Prescription Drugs Transportation and lodging related to medical care
Please describe factors that influence the financial viability of a healthcare organization and discuss the major aspects of Medicare benefits? and how do legal and regulatory issues shape and define the good financial management of an HCO?
What are the types of social insurance that provided by Saudi insurance companies?