Admin & Finance: Financial Reports & Managing the Schedule

Question 1

Open Access scheduling includes all of the following components EXCEPT:

Answer 1

Multi-location efficiency

Question 2

Open Access scheduling includes:

Answer 2

1. Open times in blocks
2. Designated days/times for same-day appointments
3. Fit to community and practice needs
4. Walk-ins worked in

Question 3

What is depreciation?

Answer 3

Depreciation describes the reduction in value of an asset over time.

Question 4

The Income Statement is also known as:

Answer 4

Profit and Loss Statement

Question 5

What is the largest expense in most RHCs?

Answer 5

Payroll

Question 6

If no deductible is applied, what percentage of the encounter rate will Medicare pay?

Answer 6

80%

Question 7

What RHC scheduling method could reduce phone calls and staff scheduling actions?

Answer 7

Portal Self Scheduling

Question 8

True or False: A trial balance is required to be presented quarterly for the cost reporting period being reported.

Answer 8

True

Question 9

What is a key difference between the Income Statement and the Balance Sheet?

Answer 9

The Income Statement measures financial performance over a period of time, whereas the Balance Sheet is a snapshot.

Question 10

The clinic fee schedule should be set at a level:

Answer 10

That maximizes payments from commercial payers.

Question 11

True or False: Template Use Scheduling has less flexibility than other types of scheduling methods.

Answer 11

True

Question 12

True or False: Utilization Rate is calculated using no-show visits vs. visits scheduled.

Answer 12

False

Question 13

What two reports are combined in order to make up the Trial Balance?

Answer 13

Income Statement & Balance Sheet