Healthcare Financial Professional Exam Set Questions And Answers

Charge {Ans: The dollar amount a provider sets for services rendered before negotiating any discounts. It can be different from the amount paid.}Benchmarking {Ans: the comparison of key performance measures relative to best practices or to other organizations.}Visits per Day {Ans: (Total Pt Visits during Pd.)/(Total Days in Operation during Pd)}Billing {Ans: refers to the process of creating a bill (or claim) from charges, diagnosis information, procedure data and demographic information and submitting it electronically or (less frequently) on a paper claim form to the health plan.}Bundled payments {Ans: a single prospective payment by a health plan to all providers involved in a patient's episode of care where the providers divide the payment among themselves.}Occupancy % {Ans: (Total Pt. Days)/(Available Bed Days)}Bond issue {Ans: a long-term debt instrument issued by a debtor and sold to investors. The interest rate is often lower than for a bank loan.}# Breakeven Units (Formula) {Ans: Fixed Cost/CM per Unit}Balance billing {Ans: occurs when a healthcare provider bills a patient for charges (other than copayments, coinsurance, or any amounts that may remain on the patient's annual deductible) that exceed the health plan's payment for a covered