Hsm-340 Health Services Finance Midterm Exam Answers Essay

6607 Words Jun 13th, 2015 27 Pages
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HSM-340 Health Services Finance Midterm Exam Answers Follow Link Below To Get Tutorial https://homeworklance.com/downloads/hsm-340-health-services-finance-midterm-exam-answers/ HSM-340 Health Services Finance Midterm Exam Answers Question 1.1. (TCO 4) Which of the following is part of a statistics budget? (Points : 5) Output expectations Responsibility for estimation Estimation methodology All of the above Question 2.2. (TCO 4) Which budgetary issue causes the most strife in all

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(TCO 4) Based on the below information, what dollar effect did the increased admission rate have on cost?

You have been asked by management to explain the variances in costs under your inpatient capitated contract. The following data is provided. Use the following data to calculate the variances.

Budget Actual

Inpatient Costs $12,568,500 $16,618,350

Members 42,000 42,000

Admission Rate 0.070 0.095

Case Mix Index 0.90 0.85



(Points : 10)





Question 2.2. (TCO 4) Based on the information below, what rate must be set to generate the required $80,000 in profit in the preceding example?

You have been asked to establish a pricing structure for radiology on a per-procedure basis. Present budgetary data is presented below:

Budgeted Procedures $10,000

Budgeted Cost $400,000

Desired Profit $80,000















(Points : 10)





Question 3.3. (TCO 4) What is the amount of variance that is attributed to the change in labor productivity?

Use the following data to calculate the variances.

The following information has been prepared for a home health agency.

Budget Actual

Wage Rate per Hour $16.00 $17.00

Fixed Hours 320 320

Variable Hours per Relative

Value Unit (RVU) 1.0 1.1

Relative Value Units (RVUs) 1,000 1,200

Total Labor Hours 1,320 1,640

Labor Costs $21,120 $27,880

Cost per RVU $21.12 $23.23

Budgeted costs at actual volume would be $25,344 ($21.12 × 1,200), and
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