Deck 10: Healthcare Business Essentials: a Primer for Advanced Nurses

Question 1

The Affordable Care Act (ACA) was signed into law in 2010. Which describe key provisions to this law?

A) Expand access to insurance coverage
B) Emphasize prevention and wellness
C) Curb rising health costs
D) All of these are correct.

Answer 1

D

Question 2

A payor who focuses on preventive services such as smoking cessation or weight loss is _____________.

A) Preferred Provider Organization (PPO)
B) Medicaid
C) Health Maintenance Organization (HMO)
D) Private health insurance

Answer 2

C

Question 3

The advance practice nurse is providing financial support for RNs who would like to attend a cardiovascular specialty conference. From which budget would these funds be withdrawn?

A) Expense budget
B) Capital budget
C) Operating budget
D) Revenue budget

Answer 3

A

Question 4

The Centers for Medicare and Medicaid Services (CMS) initiated a rewards program paying acute care hospitals for high quality care provided. Specific measures are identified and include all of the following except:

A) Patient safety
B) Provider satisfaction
C) Efficacy and cost reduction
D) Healthcare-associated infections

Question 5

___________ is the driving factor in calculating anticipated revenue.

A) Reimbursement rates
B) Location
C) Volume
D) Expenses

Question 6

Government programs pay a higher percentage of charges when compared to a commercial insurance company.

Question 7

Medicaid is a government program for individuals with low income.

Question 8

To calculate patient days, multiply admissions by length of stay. (Number of admissions x length of stay=patient days)

Question 9

How would a nurse manager provide for staffing when full or part time nurses are on vacation or taking a leave of absence?

Question 10

Discuss the differences between an operating budget, expense budge, revenue budget, and capital budget.

Question 11

What are some specific measures you would look for when demonstrating the impact of nursing on clinical outcomes and the organization's bottom line?

Question 12

What are some of the factors that should be reviewed before beginning the budget process?

Question 13

You have been appointed to the annual budgeting committee for a new, state-of-the-art health care facility and the committee is discussing the best method to start the budgeting process. A committee member from the accounting department who has experience developing budgets for a similar organization is pushing baseline budgeting, but you believe this new facility should use zero-based budgeting (ZBB). Defend your position.

Question 14

Other than price, what are some of the other components that affect supply cost?

Question 15

Describe the various characteristics that an advanced nurse should review when evaluating a product or device.