Answer all ..
- Question 1
You are the administrator of a major regional not-for profit hospital. At the latest board meeting, certain members of the board noted that an increasing amount of the competitor hospitals are pursuing “other sources of revenue”. In turn, certain board members wanted to know more about this strategy and if we should pursue the same thing. Please explain what other sources of revenue are. In addition, please discuss at least one strength, weakness, opportunity and challenge associated the medical center pursing this strategy.
Please ensure to use the strengths, weakness, opportunities, and challenges as subheading in your response
- Question 2
According to healthcare financial management theory, fixed costs are costs which are easily modifiable.
- Question 3
When a hospital/health system category care as “bad debt” it can potential affect the organization’s bottom line.
- Question 4
The average cost per test is calculated by dividing total costs by volume.
- Question 5
With accrual accounting, economic events are recognized when the financial transaction occurs.
- Question 6
As you move down the asset section of the balance sheet, assets become more liquid.
