Final Review! Flashcards
(62 cards)
What is the revenue cycle? What is revenue?
The revenue cycle is the process in which a company from a service gains revenue. Revenue is money derived from a company’s core business.
What’s the average number of days of revenue in accounts receivable for US hospitals?
46 days
What’s a benchmark?
A benchmark is national average or standard against which a company can measure itself.
Who is the audience for the primary performance indicators?
The board
Who is the audience for secondary perormance indicators
The staff
What’s the formula for profitability?
net income/net revenue = profit margin
What’s the formula for productivity?
Units of service/FTE (full time equivilants)
FTE = 2080 hours (40 a week x 52 weeks)
How do you figure out net income?
Gross Revenue
* Deductions from Gross Revenue
1. Bad Debt
2. Charity Care
3. Contractual Allowance
Net Revenue = Gross Revenue - Deductions
Expenses
* SWB (most of the expenses)
* Supplies, depreciation, etc.
Net income = Net Revenue - Expenses
In healthcare, what does “ambulatory” mean?
Outpatient
When, by whom and in what state was the first ASC begun?
1970 by some anesthesiologists in Arizona.
What’s the nosocomial rate in hospitals as opposed to ACSs?
4% in hospitals, .5% in ASCs
What are the 6 types of scope-based tech that are used in surgical procedures?
Arthroscopy Endoscopy Laparoscopy Laryngoscopy Colonoscopy Sigmoidoscopy
What’s a CASC admin?
A certified administrator of surgery centers
Who owns the highest percentage of freestanding ASCs?
Physicians…duh.
ASCs are not allowed to markup _____?
Inplants
How many inpatient beds do ASCs have?
None!
About how many acute care hospitals are there in the US?
About 5,500
What is acute care?
Medical care for the ill or injured. Short term care.
What advocacy organizations represent:
Non-for-profit hospitals?
For-profit hospitals?
AHA (American Hospital Association)
FAH (Federation of American Hospitals)
What does triage mean?
Triage means to separate cases into the 3/4 levels of care/acuity: Primary Secondary Tertiary Quaternary
What are the levels of care and where do they most commonly occur?
Primary = diagnosing and planning for treatment (physicians office, ER)
low acuity
Secondary = Anything for which you are admitted into a hospital. Admitted surgery with a medium acuity.
Tertiary = Level of care that requires at least one-on-one nursing. Generally takes place in an ICU. High acuity.
Quaternary = Experimental procedures and research not yet approved by FDA. Must be approved by IRB. Considered a kind of off-shoot of tertiary care
What does CMS stand for?
Centers for Medicare and Medicaid Services
What are the 4 parts to the Medicare program?
Part A - Inpatient Services
Part B - Outpatient and Physician Services
Part C - Medicare advantage. Contract with 3rd party insurance. A+B
Part D - Drugs!
A critical access hospital may not have more than ___ inpatient beds.
25
