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- In accruing patient charges for the current month, which one of the following accounts should a hospital credit? Accounts Payable. Deferred Revenue. Public Support Revenue. O Patient Service Revenues. O Accounts Receivable. Question 31 4 pt Which of the following types of health care entities follow FASB Accounting Standards Codification for preparing financial statements? MacBook AirStudents may wish to refer to the chapters on the introduction to the revenue cycle and patient encounter and billing information in this workbook for a review of math for the following problems. Dr. Augustino is a Medicare participating provider. Dr. Brunner is a Medicare nonparticipating provider who accepts assignment. Dr. Charles is a Medicare nonparticipating provider who does not accept the assignment. The following table shows the fees each doctor charges as well as the Medicare Fee. Dr. A Dr. B Dr. C Medicare 99201 OV New 45.00 42.50 48.00 36.00 99204 OV New 60.00 57.50 65.00 48.25 99212 OV Established 40.00 38.00 45.00 32.00 99213 OV Established 45.00 40.00 48.00 35.75 71046 Chest X-ray 165.00 162.50 174,00 73.25 36415 Venipuncture 17.00 12.00 20.00 8.00 Audrey Appel who is covered by Medicare, as well as a Medigap policy, is a new patient of Dr. Augustino. She is seen in the office for…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.
- 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.Which of the following statements regarding the Patient Protection and Affordable Care Act (ACA) is true? Group of answer choices a. The ACA eliminates lifetime limits on total health care insurance payments by insurers. b. The ACA limits the total number of surgeries for the insurers. c. The ACA requires employers to reimburse the cost of hospital stays of the insured. d. The ACA decides the insurance payments for dependents. e. The ACA provides major medical insurance with low deductibles to protect against catastrophic illnesses.QUESTION 10 With a DRG, Medicare pays for a hospitalization based on _____. how long the patient was hospitalized the diagnosis the patient was hospitalized to treat how much the hospital did to treat the patient how much the hospital spent caring for the patient.
- Course Name: Principle of Healthcare Finance How does Medicare reimburse hospitals for inpatient stays?Common coverage of HMOs include Annual Check-ups, confinements, laboratory fees, doctor's fees and dental care TRUE OR FALSEWhen 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
- A sub-capitation payment is a: a. fixed amount per month paid to a provider for only the care that an individual needs from that provider b. payment system that reimburses physicians based on the physician's work, practice expenses, and malpractice insurance expenses c. method of reimbursement whereby the health care provider is paid for individual services charged d. method of reimbursement for medical services whereby the provider accepts preestablished payments for providing care to patients for a certain period of time Which is a tax-deferred account used for qualified health care expenses in which unused funds roll over from year to year?An important distinction in health insurance is between the list price (PL) and out-of-pocket price (PP) of a medical good or service. The list price is the official price that the provider charges the insurance company, while the out-of-pocket price is the price that the insurance customer faces. Sometimes, the out-of-pocket price depends on the list price. Now assume the consumer is part of a partial insurance plan with a coinsurance provision. Her insurance pays 50% of all medical expenses. Consider again the relationship between PL and PP and plot a coinsurance plan demand curve in PL - Q space. Label this curve D3. Finally, assume the consumer is part of a partial insurance plan with a copayment provision. Her insurance pays all expenses above and beyond her copayment of $25 for each unit of Q. Consider again the relationship between PL and PP and plot a copayment-plan demand curve in PL - Q space. Label this curve D4.What is a contractual adjustment? An increase in a patient’s charges caused by revisions in the billing process utilized by a health care entity. A year-end journal entry to recognize all of a health care entity’s remaining receivables. A reduction in patient service revenues caused by agreements with third-party payors that allows them to pay a health care entity based on their determination of reasonable costs. The results of a cost allocation system that allows a health care entity to determine a patient’s cost by department.