Question 1

Gas,electricity,and telephone costs are considered:

Accepted Answer

A) fixed costs 
B) variable costs 
C) direct expenses 
D) indirect expenses 
A) fixed costs 
B) variable costs 
C) direct expenses 
D) indirect expenses D

Question 2

An expense that is associated with patient care is:

Accepted Answer

A) fixed 
B) indirect 
C) direct 
D) variable 
A) fixed 
B) indirect 
C) direct 
D) variable C

Question 3

Which of the following are part of the "Four Ps of marketing"? Select all that apply.

Accepted Answer

A) price 
B) product 
C) plan 
D) patient 
A) price 
B) product 
C) plan 
D) patient A,B,D

Question 4

Sick time,vacation time,and holiday time are not considered to be which of the following? Select all that apply.

Accepted Answer

A) productive time 
B) unproductive time 
C) direct expenses 
D) variable costs 
A) productive time 
B) unproductive time 
C) direct expenses 
D) variable costs

Question 5

You are a new manager for an ambulatory surgical facility.Part of your job is to develop and maintain budgets for expenses.Medical and surgical supplies,drugs,laundry,and food are considered what type of expense?

Accepted Answer

A) fixed costs 
B) variable costs 
C) direct expenses 
D) indirect expenses 
A) fixed costs 
B) variable costs 
C) direct expenses 
D) indirect expenses

Question 6

Obtaining information concerning average income would be considered:

Accepted Answer

A) competitive analysis 
B) demographic information 
C) strategic initiatives 
D) regulatory influences 
A) competitive analysis 
B) demographic information 
C) strategic initiatives 
D) regulatory influences

Question 7

Which of the following are strategies that can be used to positively affect budget dashboards? Select all that apply.

Accepted Answer

A) ensure that staff have the right tools that are able be used when needed 
B) participate in the development of action plans to increase patient satisfaction 
C) enhance productivity by taking additional patient assignments 
D) analyze staff time management and efficiency 
A) ensure that staff have the right tools that are able be used when needed 
B) participate in the development of action plans to increase patient satisfaction 
C) enhance productivity by taking additional patient assignments 
D) analyze staff time management and efficiency

Question 8

A(n)_____ is a plan that provides formal quantitative expressions for the acquisition and disbursement of monies over a specified period of time.

Accepted Answer

A) accounting 
B) budget 
C) mission 
D) vision 
A) accounting 
B) budget 
C) mission 
D) vision

Question 9

A budget that outlines anticipated revenue and expenses over a specified time period is called:

Accepted Answer

A) operational 
B) capital 
C) construction 
D) accounting 
A) operational 
B) capital 
C) construction 
D) accounting

Question 10

A department manager's budget concerned with the income and expenses associated with day-to-day activities of a unit is called a(n)_____ budget.

Accepted Answer

A) operational 
B) capital 
C) construction 
D) balanced 
A) operational 
B) capital 
C) construction 
D) balanced

Question 11

Obtaining information on Medicare services is considered:

Accepted Answer

A) demographic information 
B) regulatory information 
C) strategic information 
D) competitive information 
A) demographic information 
B) regulatory information 
C) strategic information 
D) competitive information

Question 12

____ is responsible for the administration of Medicare and Medicaid.

Accepted Answer

A) The Health Care Financing Administration (HCF
A)  
B) Social Security Department 
C) Tax Equity and Fiscal Responsibility Act (TEFR
A)  
D) Congress 
A) The Health Care Financing Administration (HCF
A)  
B) Social Security Department 
C) Tax Equity and Fiscal Responsibility Act (TEFR
A)  
D) Congress

Question 13

A payment classification system used for reimbursement of health care cost by Medicare is:

Accepted Answer

A) managed care contracts 
B) penetration rate revenue 
C) diagnosis-related groups 
D) length-of-stay records 
A) managed care contracts 
B) penetration rate revenue 
C) diagnosis-related groups 
D) length-of-stay records

Question 14

A _____ business has no stockholders.

Accepted Answer

A) for-profit 
B) not-for-profit 
C) monopoly 
D) fiefdom 
A) for-profit 
B) not-for-profit 
C) monopoly 
D) fiefdom

Question 15

Nursing costs bundled into one type charge for a patient is incorrect because:

Accepted Answer

A) it makes critical care units lose money 
B) it makes it difficult to plan a budget 
C) it assumes every patient needs the same type of care 
D) it assumes all nurses make the same salary 
A) it makes critical care units lose money 
B) it makes it difficult to plan a budget 
C) it assumes every patient needs the same type of care 
D) it assumes all nurses make the same salary

Question 16

A strategy that can be used by staff to positively affect the budget is:

Accepted Answer

A) increase patient charge items 
B) maintain patient length of stay 
C) maintain productivity 
D) evaluate staff downtime 
A) increase patient charge items 
B) maintain patient length of stay 
C) maintain productivity 
D) evaluate staff downtime

Question 17

The mission statement of an organization serves to:

Accepted Answer

A) establish long range goals 
B) articulate where the organization is going 
C) direct decision making about the organization 
D) develop a strategic plan 
A) establish long range goals 
B) articulate where the organization is going 
C) direct decision making about the organization 
D) develop a strategic plan

Question 18

Third-party payers negotiate fees for services.If it cost the hospital $2,000 for costs associated with placing a PICC line and the insurance company has negotiated to pay 40% of the cost,how much will the hospital receive?

Accepted Answer

A) $900 
B) $800 
C) $1,000 
D) $700 
A) $900 
B) $800 
C) $1,000 
D) $700

Question 19

In the budget preparation phase,obtaining information regarding a competitor's performance is considered:

Accepted Answer

A) demographic information 
B) regulatory influences 
C) strategic initiatives 
D) competitive analysis 
A) demographic information 
B) regulatory influences 
C) strategic initiatives 
D) competitive analysis

Question 20

Nurse Z is the manager of a busy medical-surgical inpatient unit at her local hospital.Nurse Z needs to provide information regarding unit expenditures,customer satisfaction and services,and staffing to her director for reporting purposes.What tool should the director use to provide a snapshot of what is going on in this facility?

Accepted Answer

A) dashboard 
B) capital budget 
C) competitive analysis 
D) strategic planning 
A) dashboard 
B) capital budget 
C) competitive analysis 
D) strategic planning

Gas,electricity,and telephone costs are considered:

An expense that is associated with patient care is:

Which of the following are part of the "Four Ps of marketing"? Select all that apply.

Sick time,vacation time,and holiday time are not considered to be which of the following? Select all that apply.

You are a new manager for an ambulatory surgical facility.Part of your job is to develop and maintain budgets for expenses.Medical and surgical supplies,drugs,laundry,and food are considered what type of expense?

Obtaining information concerning average income would be considered:

Which of the following are strategies that can be used to positively affect budget dashboards? Select all that apply.

A(n)_____ is a plan that provides formal quantitative expressions for the acquisition and disbursement of monies over a specified period of time.

A budget that outlines anticipated revenue and expenses over a specified time period is called:

A department manager's budget concerned with the income and expenses associated with day-to-day activities of a unit is called a(n)_____ budget.

Obtaining information on Medicare services is considered:

____ is responsible for the administration of Medicare and Medicaid.

A payment classification system used for reimbursement of health care cost by Medicare is:

A _____ business has no stockholders.

Nursing costs bundled into one type charge for a patient is incorrect because:

A strategy that can be used by staff to positively affect the budget is:

The mission statement of an organization serves to:

Third-party payers negotiate fees for services.If it cost the hospital $2,000 for costs associated with placing a PICC line and the insurance company has negotiated to pay 40% of the cost,how much will the hospital receive?

In the budget preparation phase,obtaining information regarding a competitor's performance is considered:

Nursing Leadership,Management,and Motivation

The Health Care Environment

Nursing Today

Decision Making, Critical Thinking, Technology, and Informatics

Inter-Professional Teamwork and Collaboration

Change, Innovation, and Conflict

Power and Politics

Delegation of Patient Care

Effective Staffing

Strategic Planning and Organizing of Patient Care for Quality and Safety

Time Management and Setting Patient Care Priorities

Quality Improvement and Evidence Based Patient Care

Legal Aspects of Health Care

Ethical Aspects of Health Care

Culture, Generational Differences, and Spirituality

NCLEX-RN Preparation and Your First Job

Career Planning and Achieving Balance

Filters

Exam 10: Budget Concepts for Patient Care

Gas,electricity,and telephone costs are considered:

An expense that is associated with patient care is:

Which of the following are part of the "Four Ps of marketing"? Select all that apply.

Sick time,vacation time,and holiday time are not considered to be which of the following? Select all that apply.

You are a new manager for an ambulatory surgical facility.Part of your job is to develop and maintain budgets for expenses.Medical and surgical supplies,drugs,laundry,and food are considered what type of expense?

Obtaining information concerning average income would be considered:

Which of the following are strategies that can be used to positively affect budget dashboards? Select all that apply.

A(n)_____ is a plan that provides formal quantitative expressions for the acquisition and disbursement of monies over a specified period of time.

A budget that outlines anticipated revenue and expenses over a specified time period is called:

A department manager's budget concerned with the income and expenses associated with day-to-day activities of a unit is called a(n)_____ budget.

Obtaining information on Medicare services is considered:

____ is responsible for the administration of Medicare and Medicaid.

A payment classification system used for reimbursement of health care cost by Medicare is:

A _____ business has no stockholders.

Nursing costs bundled into one type charge for a patient is incorrect because:

A strategy that can be used by staff to positively affect the budget is:

The mission statement of an organization serves to:

Third-party payers negotiate fees for services.If it cost the hospital $2,000 for costs associated with placing a PICC line and the insurance company has negotiated to pay 40% of the cost,how much will the hospital receive?

In the budget preparation phase,obtaining information regarding a competitor's performance is considered:

Nursing Leadership,Management,and Motivation

The Health Care Environment

Nursing Today

Decision Making, Critical Thinking, Technology, and Informatics

Inter-Professional Teamwork and Collaboration

Change, Innovation, and Conflict

Power and Politics

Delegation of Patient Care

Effective Staffing

Strategic Planning and Organizing of Patient Care for Quality and Safety

Time Management and Setting Patient Care Priorities

Quality Improvement and Evidence Based Patient Care

Legal Aspects of Health Care

Ethical Aspects of Health Care

Culture, Generational Differences, and Spirituality

NCLEX-RN Preparation and Your First Job

Career Planning and Achieving Balance

Filters