Flashcards in Final Review! Deck (62):
What's the average number of days of revenue in accounts receivable for US hospitals?
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 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?
Who is the audience for secondary perormance indicators
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?
* Deductions from Gross Revenue
1. Bad Debt
2. Charity Care
3. Contractual Allowance
Net Revenue = Gross Revenue - Deductions
* SWB (most of the expenses)
* Supplies, depreciation, etc.
Net income = Net Revenue - Expenses
In healthcare, what does "ambulatory" mean?
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?
What's a CASC admin?
A certified administrator of surgery centers
Who owns the highest percentage of freestanding ASCs?
ASCs are not allowed to markup _____?
How many inpatient beds do ASCs have?
About how many acute care hospitals are there in the US?
What is acute care?
Medical care for the ill or injured. Short term care.
What advocacy organizations represent:
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:
What are the levels of care and where do they most commonly occur?
Primary = diagnosing and planning for treatment (physicians office, ER)
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.
Disproportionate Share Hospitals care for more than the national average of _____ patients.
What is the OAA and when was it enacted?
The Older Americans Act in 1965.
Identify the 4 levels of long term care (from least to most intense)
Skilled Nursing Facility (SNF)
What is an ADL and what 5 are there?
Activities of Daily Living
What's the biggest source of payment for LTC?
What percentage of LTC is paid by Medicare?
What's the biggest operational challenge in LTC?
HR, for sure. There's large turnover and issues of pay and benefits.
Why do we treat rehab facilities as different from LTC?
Rehab is more about the acute care side of LTC. They have their own conditions of participation and are focused specifically on rehab.
Think PT, OT, ST and RT
What are the 5 things physicians value?
What percent of group practices are HOGs?
What are the 8 managerial challenges of medical group practice?
American Board of Medical Specialties
American College of Healthcare Executives
American College of Obstetricians and Gynecologists
American Hospital Association
Average Length of Stay
American Medical Association
American Nurses Association
Ambulatory Surgical Center Association
Certified Registered Nurse Anesthetist
Department of Health and Human Services
Durable Medical Equipment
Doctor of Osteopathy
Doctor of Podiatric Medicine
Food and Drug Administration
Hospital Financial Management Association
Health Insurance Portability and Accountability Act
Health Maintenance Organization
Hospital Outpatient Department
Healthcare Supply Chain Association
Institutional Review Board
International Organization of Standards
Neo-natal Intensive Care Unity
Outpatient Prospective Payment System
Post anesthetic payment system
Primary Care Physician
Periodic Interim Payment