Deck 3: The Financial Environment of Health Care Organizations

Question 1

The difference between a health care provider's stated charge and the payment agreed to with a third-party payer is called a ____________________.

Answer 1

Contractual allowance

Question 2

All third party payers are private insurance companies.

Answer 2

False
Medicare and Medicaid are public third party payers.

Question 3

Do health care providers record as revenue what they charge customers, or the net amount after contractual allowances?

Answer 3

They record the net amount after contractual allowances as revenue.

Question 4

Discuss two significant details of the Patient Protection and Affordable Care Act of 2010.