Associate Level Material Financial Concepts and Reports Consult Ch. 1 & 2 and the glossary of Health Care Finance as well as other outside sources as necessary to complete the assignment form below. Part 1: For each term in Column A‚ select the correct definition from Column B on the right. Write the corresponding letter of the definition next to the term. |Column B – Definitions | |
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| |HCA/270 Version 3 | |Financial Matters for Health Care Professionals | Copyright © 2011‚ 2009‚ 2007 by University of Phoenix. All rights reserved. Course Description This course is designed as an introduction to the terminology‚ processes‚ functions‚ and financial reports commonly encountered in health care operations. This course introduces the concepts of basic managerial financial functions
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Present and Future Value HCA 270 Calculate the future value of the following: * $5‚000 compounded annually at 6% for 5 years $6‚691.13 * $5‚000 compounded semiannually at 6% for 5 years $6719.58 * $5‚000 compounded quarterly at 6% for 5 years $6734.28 * $5‚000 compounded annually at 6% for 6 years $7092.60 Answer the following: The conclusion that can be drawn about the frequency of compounding interest is that the more frequency the better. The conclusion
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Appendix C - HCA/270 Health Care Finance | PART III - Grouping Expenses by Cost Center | Background: Cost centers are used in an organization to group expenses. For example‚ the patient registration department would be a cost center. All costs associated with operating the patient registration department would be grouped into this cost center. Items such as paper‚ copier rental‚ education and training for new employees‚ and computers used by the registration employees would be allocated to this
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the organization that does not produce or add money to the company but is still crucial to running that company. an example of this is the marketing department and customer service. | Shadow cost centers | Shadow cost centers provide detailed reports for cost center departments‚ division‚ and extensions. An example of this is depreciation of equipment.
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Axia College Material Appendix D Costs and Cost Control Part I—Costs: Briefly define the following terms‚ and provide examples where appropriate. Term | Definition and example | Direct costs | These are costs that incurred directly as a result of providing a specific good or service. (Example) A patient is in the hospital and all of the services are included in the cost. | Indirect costs | These are those that cannot be tied directly to the patient as they stay in the hospital. (Example)
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Date: February 8‚ 2013 To: Dr. Harland Hodges From: Kacie Burton Subject: Evaluation of HCA’s financials The following is an analysis of HCA’s financial statements and an explanation of changes in revenue; cost of goods sold to sales; selling‚ general‚ and administrative to sales; accounts receivable turnover; inventory turnover; plant property‚ and equipment; and accounts payable turnover. Income Statement During the past year‚ total revenue increased by 5.9%‚ a near $1.6 billion
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Axia Material Cost Classifications Consult Ch. 6 & 7 of Health Care Finance and other sources to complete the form. This worksheet requires you to match the definitions and examples of types of cost‚ and the types of centers where costs occur. Part 1: For each term in Column A‚ select the correct definition from Column B on the right. Write the corresponding letter of the definition next to the term. |Column A | |F |Indirect costs
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Associate Level Material Comparative Data Resource: Ch. 14 of Health Care Finance Complete the following table by writing responses to the questions. Cite the sources in the text and list them at the bottom of the table. |What criterion must be met |Consistency: Important when comparing data to make sure the data compared was prepared the correct way and done the same each time. | |for true comparability? |
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Just in time (JIT): is a production strategy that strives to improve a business’ return on investment by reducing in-process inventory and associated carrying costs. To meet JIT objectives‚ the process relies on signals or Kanban between different points‚ which are involved in the process‚ which tell production when to make the next part. Kanban are usually ’tickets’ but can be simple visual signals‚ such as the presence or absence of a part on a shelf. Implemented correctly‚ JIT focuses on continuous
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