HAC Healthcare Analyst Financial Management & Budgeting

Question 1

Which financial metric measures the percentage of billed services that a healthcare organization actually collects?

Accepted Answer

Collection rate

Answer

Accounts receivable turnover

Answer

Gross margin

Answer

Operating ratio

Question 2

In healthcare budgeting, what does a 'variance analysis' primarily examine?

Accepted Answer

Differences between budgeted and actual financial results

Answer

Variance in patient diagnoses

Answer

Statistical variation in lab results

Answer

Staff scheduling differences

Question 3

What is the primary purpose of a healthcare organization's operating budget?

Accepted Answer

To plan and control day-to-day revenues and expenses

Answer

To fund capital equipment purchases

Answer

To manage long-term debt obligations

Answer

To track investment portfolio performance

Question 4

Which of the following best describes 'days in accounts receivable (AR)' in healthcare?

Accepted Answer

The average number of days it takes to collect payment after service delivery

Answer

The number of days a patient account remains open

Answer

The time between billing and insurance adjudication

Answer

The average length of stay for insured patients

Question 5

A healthcare analyst notices that supply costs increased by 15% while patient volume increased by only 5%. This is an example of what type of variance?

Accepted Answer

Unfavorable efficiency variance

Answer

Favorable volume variance

Answer

Favorable price variance

Answer

Neutral budget variance

Question 6

Which reimbursement model pays healthcare providers a fixed amount per patient per month regardless of services used?

Accepted Answer

Capitation

Answer

Fee-for-service

Answer

Bundled payment

Answer

Per diem