27 Jul Health Financial Management
1. Aggressive working capital policy: (Points : 5) May increase the entity’s return, but it also increases the risk
Calls for maintaining high cash balances on hand
Leads to increased interest costs incurred by having to take on additional debt to meet short-term obligations
All of the above
$150,000 $50,000 $500,000 $850,000 |
50% 33% 200% 300% |
They are both considered current assets They are both considered expenses They are both excluded from current assets They are both considered current liabilities Total revenue outpaces total avoidable fixed costs |
Total fixed costs and total revenue intersect Revenue minus variable cost minus fixed cost = 0 Total profit margin and total costs intersect Total variable costs and total revenue intersect Total revenue outpaces total avoidable fixed costs |
Income statement Statement of retained earnings Balance sheet Report of management Statement of cash flows |
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7. An imaging center has the following information:Revenue per test: $225
Variable cost per test: $150 Total fixed costs: $225,000 Estimated number of tests = 3,500 Calculate the total dollar contribution margin dollars and percentage. (Points : 15) 228,875 |
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8. Your hospital has the following revenue for the months of July-September: July $3,000,000 August $2,500,000 September $4,000,000. If 30% of the month’s revenue is collected in the same month, 40% is collected in the second month and 30% is collected in the third month, how much of July’s revenue is collected in August? (Points : 15)
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9. Accounts receivables can constitute more than 50% of a healthcare organization’s current assets. Managing accounts receivables is critical to the cash flow of the organization. If you were a billing manager what should you consider when implementing credit and collection policies? (Points : 20)
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