MGMT 340 Business Systems Analysis Week 2 Quiz Answers – Homeworkmade

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(TCO 2) A statement that reports the financial position (assets, liabilities, and stockholders’ equity) of an accounting entity at a point in time is called a(an):

(TCO 2) Two major methods of asset valuation are:

(TCO 2) Which of the following is the BEST example of a financial metric?

(TCO 2) Which of the following is not one of the four critical questions that must be answered for dashboard reporting?

(TCO 2) What are the major reasons for accrual accounting?

(TCO 2) What are the double-entry accounting system and the duality concept? How are they related?

(TCO 2) The HC method, which uses unadjusted historical costs, does not take into account depreciation expenses, purchasing power, and unrealized gains in replacement value. Despite these weaknesses as a financial reporting method, the HC method is used more frequently for accounting purposes than other methods, such as the HC-GPL, CV, and CV-GPL methods. Why is this so?

(TCO 2) What is the basic accounting equation?

MGMT 340 Business Systems Analysis Week 3 Quiz Answers – Homeworkmade

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(TCO 3) The breakeven point occurs where:

(TCO 3) Increasing marginal volume for cost payers makes economic sense if:

(TCO 3) You increased rates by 10 percent across all services and profits decreased by 5 percent. Cost per unit remained constant. What could account for this change?

(TCO 3) Which of the following is the first step in any budgetary process?

(TCO 3) David Jones, the new administrator for a surgical clinic, was trying to determine how to allocate his indirect expenses. His staff was complaining that the current method of taking a percentage of revenues was unfair. He decided to try to allocate utilities based on square footage of each department, administration based on direct costs, and laboratory based on tests. Use the information in the chart below to answer the question.

(TCO 3) Your hospital has been approached by a major HMO to perform all their MS-DRG 470 cases (major joint procedures). They have offered a flat price of $10,000 per case. You have reviewed your charges for MS-DRG 470 during the last year and found the following profile: Average Charge $15,000 Average LOS 5 Days Routine Charge $3,600 Cost/Charge 0.80 Variable Cost % 60 Operating Room 2,657 0.80 80 Anesthesiology 293 0.80 80 Lab 1,035 0.70 30 Radiology 345 0.75 50 Medical Supplies 4,524 0.50 90 Pharmacy 1,230 0.50 90 Other Ancillary 1,316 0.80 60 Total Ancillary $11,400 0.75 50 In the above data set, assume that the hospital’s cost to charge ratio is 0.80 for routine services and 0.75 for all other ancillary services. Using this information, what would the average cost of MS-DRG 470 be?

(TCO 3) Describe and explain the difference between fixed costs and variable costs?

MGMT 340 Business Systems Analysis Week 4 Midterm Exam Answers – Homeworkmade

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(TCO 4) ________________ is a phase of management that is longer than budgeting, but shorter than planning.

(TCO 4) The following is an example of a _____________ budget:
“The budget for the radiology department is different at 90 percent occupancy than at 80 percent occupancy.”

(TCO 4) Efficiency is a relationship between:

(TCO 3) Which of the following is the first step in any budgetary process?

(TCO 3) Your controller has told you that the marginal profit of DRG 209 (major joint procedure) for a Medicare patient exceeds the marginal profit for an average charge patient. Why might this occur?

(TCO 2) A statement that reports inflows and outflows of cash during the accounting period in the categories of operations, investing, and financing, is called a(an):

(TCO 2) The _____ is a way for organizations to improve the collection and communication of financial and operating information.

(TCO 4) Based on the below information, what dollar effect did the increased admission rate have on cost?

(TCO 4)Based on the information below, assume that the only change in the original example data is that Blue Cross raises their discount to 20 percent. What price should be set? You have been asked to establish a pricing structure for radiology on a per-procedure basis. Present budgetary data is presented below: Budgeted Procedures $10,000 Budgeted Cost $400,000 Desired Profit $80,000 It is estimated that Medicare patients comprise 40 percent of total radiology volume and will pay on average $38.00 per procedure. Approximately 10 percent of the patients are cost payers. The remaining charge payers are summarized below: Payer Volume% Discount% Blue Cross 20 4 Unity PPO 15 10 Kaiser 10 10 Self Pay 5 40 50%

(TCO 4) What is the amount of variance that can be attributed to the difference between budgeted and actual volume? Use the following data to calculate the variances. The following information has been prepared for a home health agency. Budget Actual Wage Rate per Hour $16.00 $17.00 Fixed Hours 320 320 Variable Hours per Relative Value Unit (RVU) 1.0 1.1 Relative Value Units (RVUs) 1,000 1,200 Total Labor Hours 1,320 1,640 Labor Costs $21,120 $27,880 Cost per RVU $21.12 $23.23 Budgeted costs at actual volume would be $25,344 ($21.12 × 1,200), and the total variance to be explained is $2,536 Unfavorable ($27,880 – $25,344). Make sure to calculate the Budgeted Fixed Cost per Unit first. Be sure to specify whether the variance is favorable or unfavorable.

(TCO 2) What are the major reasons for accrual accounting?

(TCO 2) What is an audit (in the context of financial accounting)?

(TCO 1) What are social responsibility and ethics as they relate to business-oriented organizations? How should social responsibility and ethics affect the decisions of even for-profit companies?

(TCO 2) List and describe the three categories of net assets.

MGMT 340 Business Systems Analysis Week 7 Quiz Answers – Homeworkmade

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(TCO 7) A High Deductible Health Plan with a Savings Option does not include the following?

(TCO 7) Which of the following is not a factor promoting the growth of Integrated Delivery Systems:

(TCO 7) A medical group includes a provision in its contract with an HMO to receive larger PMPM payments if the HMO members are chronically ill. This type of provision is referred to as a:

(TCO 7) Suppose that HCA and Tenet were to merge. Ignoring potential antitrust problems, this merger would be classified as a:

(TCO 7) A hospital has contracted with an HMO to provide acute care inpatient services for $1,000 per day, subject to a 10 percent withhold. The proposed budget for inpatient services is based upon expected utilization of 600 days per 1,000 members at $1,000 per day, or $600,000 per 1,000 members. The hospital risk pool will be split equally between the hospital and a primary care physician group. If only 450 days per 1,000 members were utilized in the first year, how much would the hospital be paid per 1,000 members?

(TCO 7) An uninsured patient receives services with charges of $5,000 from a hospital. The hospital staff bills the patient $1,000 and records $4,000 as charity care. If the hospital’s ratio of cost to charges is 50%, what amount would the hospital recognize as charity care in Schedule H of IRS Form 990?

(TCO 7) How is charity care usually defined?

MGMT 340 Business Systems Analysis Week 8 Final Exam Answers – Homeworkmade

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(TCO 2) What is the basic accounting equation?

(TCO 1) What are the primary responsibilities of the financial manager?

(TCO 1) What are the six stages of the revenue cycle?

(TCO 1) What is the False Claims Act and how does it impact providers of health care services?

(TCO 4) You have been asked to establish a pricing structure for radiology on a per-procedure basis. Present budgetary data is presented below: Budgeted Procedures 10,000 Budgeted Cost$400,000 Desired Profit $80,000 It is estimated that Medicare patients comprise 40 percent of total radiology volume and will pay on average $38.00 per procedure. Approximately 10 percent of the patients are cost payers. The remaining charge payers are summarized below: Payer Volume % Discount % Blue Cross 20 4 Unity PPO 15 10 Kaiser 10 10 Self Pay 5 40 50% What rate must be set to generate the required $80,000 in profit in the preceding example?

(TCO 3) Assume that a certain nursing home has two categories of payers. Medicaid pays $60.00 per day and private pay patients pay the established per diem, but approximately 10 percent of private-pay charges are not collected. If 50 percent of the patients are Medicaid and 50 percent are private pay, what rate must be set to generate $150,000 in profit? Variable costs are $45.00 per day and fixed costs are expected to be $1,000,000. Expected volume is 50,000 patient days.

(TCO 5) What are the advantages to a tax-paying entity in issuing debt as opposed to equity?

(TCO 6) What is the purpose of disbursement policies?

(TCO 6) What are the three reasons why a health care facility holds cash?

(TCO 7) Why is tax-exempt financing cited as a benefit received by not-for-profit healthcare providers?

(TCO 1) What are the three factors that influence pricing?

(TCO 5) Why is a dollar today worth more than a dollar received in the future?

MGMT 592 Leadership in the 21st Century Week 4 MidTerm Answers – Homeworkmade

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MGMT 592 Week 4 MidTerm

1. Leadership is described as both a science and an art. How can we understand it as both?  Describe why each applies and how they are reconciled in both the study and practice of leadership.

2. Are leaders born or made? Which dominates the process and why? How do these questions effect one’s leadership development perspectives? Discuss the ways leaders are developed.

3. How does obedience relate to power in leadership? Discuss the research that this relationship is based upon and its implication for leadership development.

4. Describe the three most well-known types of ethical decision making and the four dilemmas that each engender. Why do these matter to the leader in his or her own ethical perspectives?

5. Discuss in detail, the four methods of motivation used by leaders to get action from followers.  Why is this interaction so important to the leader’s effectiveness?

6. Motivating followers as individuals is challenging; but even more so is motivating groups or teams. Why is this the case? Discuss the unique characteristics of groups and/or teams and the differences between a group and a team.

MGT 320 Leadership in Organizations Final Exam Answers – Homeworkmade

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PART I: SHORT RESPONSE

1.Describe the new reality for leadership.

2.What does empowerment mean?

3.Management and leadership are not the same.  Explain.

4.Describe trait approach research.

5.Describe the Leadership Continuum by Tannenbaum and Schmidt.

6.What are the characteristics of a “high-high” leader?

7.Describe the Vroom-Jago Contingency Model.

8.How do values affect leadership?

9.Distinguish between Theory X and Theory Y leaders.

10.What is the importance of the “whole brain” concept?

11.What are the implications of emotional intelligence for leaders?

12.Discuss the demands on effective followers.

13.Describe the leader as a communication champion.

14.Describe channel richness.

15.Describe a virtual team.

16.Describe power in an organization.

17.Describe coalitional leadership.

18.Describe strategic leadership.

19.How does vision energize people and create commitment?

20.Why would coercion be used to overcome resistance to change?

PART II: ESSAY

Write a 300-400 word essay on one of the following questions.

Describe the type of leader you are or would like to become.