#1
What is the meaning of 'EBITDA' in healthcare finance?
Earnings Before Interest, Taxes, Depreciation, and Amortization
ExplanationFinancial metric indicating operating performance.
#2
What does 'Capitation' refer to in healthcare financial terms?
A payment arrangement for healthcare services
ExplanationPayment model based on fixed fees per person.
#3
What is 'Cost-Sharing' in healthcare finance?
A practice where healthcare providers share costs with patients
ExplanationFinancial responsibility shared by provider and patient.
#4
What does 'HIPAA' stand for in healthcare finance?
Health Insurance Portability and Accountability Act
ExplanationRegulation ensuring privacy and security of healthcare information.
#5
What is 'DRG' in healthcare finance?
Diagnosis-Related Group
ExplanationClassification system for patient types.
#6
What does 'COBRA' stand for in healthcare finance?
Consolidated Omnibus Budget Reconciliation Act
ExplanationLegislation regarding continuation of health coverage.
#7
Which of the following is NOT a component of the healthcare revenue cycle?
Hospital operations
ExplanationOperational aspect unrelated to revenue generation.
#8
What is 'Fee-for-Service' payment in healthcare finance?
A payment model where services are reimbursed based on a predetermined fee
ExplanationPayment based on services rendered.
#9
What does 'MACRA' stand for in healthcare finance?
Medicare Access and CHIP Reauthorization Act
ExplanationLegislation affecting Medicare payments.
#10
Which of the following is a common measure of healthcare financial performance?
Revenue per bed
ExplanationIndicator of revenue generation efficiency.
#11
What is the purpose of a 'Balance Sheet' in healthcare finance?
To provide a snapshot of a healthcare organization's financial position at a specific point in time
ExplanationSummary of assets, liabilities, and equity.
#12
What is 'Capitation Rate' in healthcare finance?
A fixed payment per patient to cover a range of services for a specified period
ExplanationFixed fee per patient for a set of services.
#13
What is the 'Days Sales Outstanding (DSO)' metric used for in healthcare finance?
To measure the average number of days it takes to collect payment after a service is provided
ExplanationIndicator of efficiency in collecting payments.
#14
What is 'Value-Based Purchasing' (VBP) in healthcare finance?
A payment model that rewards healthcare providers for the quality of care they provide
ExplanationPayment based on care quality and outcomes.
#15
What is 'Cost Allocation' in healthcare finance?
The process of assigning indirect costs to specific services or departments
ExplanationAssigning shared costs to particular services.
#16
What is 'Underwriting' in healthcare finance?
The process of assessing risk and setting premiums for insurance policies
ExplanationAssessing risk for insurance coverage.
#17
What is 'Utilization Review' in healthcare finance?
A process of evaluating the necessity and appropriateness of medical services
ExplanationAssessing the efficiency and necessity of medical services.