Answered: 2. Briefly explain the difference…

Business

Finance

2. Briefly explain the difference between short-term and long-term assets.

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter11: Planning For Health Care Expenses

Section: Chapter Questions

Problem 3LTAI

See similar textbooks

Related questions

Q: ost effective care to patients?

A: In the United States, managed care or managed health care refers to a set of actions aimed at…

Q: Group of answer choices a. type of care

A: Grooming/personal hygiene, clothing, toileting/continence, transferring/ambulating, and eating are…

Q: What is a contractual adjustment? Choose the correct.a. An increase in a patient’s charges caused by…

A: Contractual adjustment is a reduction in patient service revenues caused by agreements with…

Q: ported by hospitals, and what measure of charity care are hospitals required to disclose in the…

A: In return for providing charity care and other community services, hospitals can apply for nonprofit…

Q: Describe the unique aspects of accounting for health care entities.

A: Accounting: It refers to recording the financial transaction of an organization and presenting the…

Q: What is a third-party payor, and how does the presence of such payors affect the financial…

A: Third party payor in healthcare entities is the payer, insurance company or health agency not…

Q: When a company pays employee healthcare, that is usually considered what kind of activity? a.…

A: Cash activities related to net income are included in operating activities.Cash activities related…

Q: What are various costs of quality incurred by multispecialty hospital ?

A: The question is based on the concept of explaining the cost incurred to maintain quality in any…

Q: How might the structure and roles of finance departments in different healthcare settings differ?…

A: The role of healthcare financial department in the health care settings are different in accordance…

Q: you Justify in 800 words , the importance of Asset accounting in hospi

A: Hospital asset accounting is a very scientific and cost-effective strategy to planning, acquiring,…

Q: Select all that apply to a saving account Your answer: O emergency fund

A: Saving account is an interest bearing deposit account with a bank.

Q: A hospital should report earnings from endowment funds that are restricted to a specific operating…

Q: Have we made the payment structure of health care to complicated?

A: Health care providers are paid based on the quality of care they provide rather than…

Q: How does Medicare reimburse hospitals for inpatient stays?

A: Reimbursement of expenses is the process through which the out-of-pocket expenses are compensated by…

Q: ategies that a hospital must do to achieve financ

A: Financial health is necessary for any organization and this is very important to maintain and grow…

Q: For-profit hospital management must strike a balance between their fiduciary responsibilities to the…

A: We can basically divide the hospitals into two categories, that are; for-profit hospitals and…

Q: Using the proper name of the funds, what is the best fund to report the following: McNeese sends in…

A: Funds means accumulation of small money on a periodic basis for future uncertain liabilities. Funds…

Q: 1. What is the difference between co-pay and coinsurance? a. They mean the same thing and used by…

A: 1. Difference between co-pay and coinsurance To know the difference between copay and…

Q: How will you, as a health care manager, be engaged in the long-term finance of your organization?…

A: As a health manager, I'll be involved in long-term funding decisions for my organization, and I'll…

Q: Which of these duties might a financial manager in a healthcare organization be responsible for?…

A: answer: Conduct data analysis to report to the board of directors on new revenue sources

Q: Is it possible for one hospital to have an income and expenditure account whereas another has a…

A: Is it possible for one hospital to have an income and expenditure account whereas another has a…

Q: Medigap insurance is a government medical insuran needy.

A: Private insurance companies sell and administer Medicare supplemental insurance, or Medigap. They…

Q: A hospital has three revenue-controlling accounts: Patient Service Revenues, Other Operating…

A: Health care revenues: Revenues and expenses gains and losses increases or decreases the net assets…

Q: A nonprofit hospitals revenues and expenses are reported on its statement of activities TRUE or…

A: Non-profit organisation , here in the question hospitals , are the organisation which are not driven…

Q: Give three examples of : Liabilities in a Healthcare organization (name the organization you are…

A: We know that Liabilities are of two types Current Liabilities: These are the liabilities which are…

Q: Which is Idemenity Plan and which is Managed Care Plan? Insureds create contract with an insurer…

A: Only managing the funds, not about financial planning. Financial planning also includes the steps…

Q: Indicate whether the statement is true or false, and justify your answer.In the 2010 American health…

A: The health care reform law passed in 2010 march. The rule has 3 main goalmouths: The law delivers…

Q: Write down the importance of time value of money for healthcare organization.

A: TVM is the concept which states that worth of money today is more than its worth in the future.

Q: Please describe the importance of financial information in healthcare organizations and list the…

A: Healthcare organizations, contrary to popular belief, need and require financial information in…

Q: Suppose you were the financial manager of a not-for-profit business (a not-for-profit hospital).…

A: The objectives are many possible and broad some given are below.

Q: what is the dilemma faced by health care finance managers in light of the ultimate goals of health…

A: Solid financial performance is linked to a better patient-reported experience of treatment, which is…

Q: How does Average Length of Stay affect the revenue cycle in a long-term care facility?

A: Revenue Cycle Management (RCM) refers to the process of identifying, retrieving, and managing…

Q: Which of he following stalements is CORRECT about benefits provided by a Basic Hospital and Surgical…

A: The answer for the multiple choice question and relevant explanation are presented hereunder : What…

Q: gal and regulatory issues shape and define the good financial management of an HCO?

A: Few developments in the structure of health care in the United States have sparked as much attention…

Q: Examples of health insurance offsets include all of the following, EXCEPT: a) Co-pays b)…

A: The question is based on the concept of health insurance and cover under the health policy.

Concept explainers

Trends in the Industry

We all know that we live in a dynamic environment that keeps changing with no break. Earlier, we used to visit banks for any work, but now you can do any work online. Similarly, shopping is also no more physical. You need an excuse to buy something, and there you go shopping online. All these changes are the need of the hour, and to make these changes feasible and possible industry needs to change its trend.

Question

1. How can social media help a hospital manage the patient experience?

2. Briefly explain the difference between short-term and long-term assets.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.

Similar questions

1. Briefly explain The Information Flow. 2. How can social media help a hospital manage the patient experience? 3. Briefly explain the difference between short-term and long-term assets. 4. What are the major differences in Government Sourcesand Managed Care Source? 5. Explain the two types of disbursements for services. 6. What is the difference between direct and indirect costs? Explain.
1. What are the four elements of financial management? 2. Briefly explain The Information Flow. 3. How can social media help a hospital manage the patient experience? 4. Briefly explain the difference between short-term and long-term assets. 5. What are the major differences in Government Sourcesand Managed Care Source? 6. Explain the two types of disbursements for services. 7. What is the difference between direct and indirect costs? Explain.
Write down the importance of time value of money for healthcare organization.
Give three examples of : Liabilities in a Healthcare organization (name the organization you are thinking of)
Please describe the importance of financial information in healthcare organizations and list the users of financial information? and what is the role of coding information in healthcare organizations in claim generation?
How will you, as a health care manager, be engaged in the long-term finance of your organization? Give specific instances of what you're talking about.
What is forecasting in a healthcare business. Provide an example of how forecasting is conducted in a healthcare organization.
How will I, as a health care manager, be involved in long-term financing for your organization? Provide examples.
Give three example of : Assets in a Healthcare organization (name the organization you are thinking of)
Strategies that a hospital must do to achieve financial healthiness
How can CVP Analysis be used to predict future cost and profitability? How can CVP analysis be used in a hospital setting?
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?