HAC Healthcare Financial Analytics Flashcards
6 cards from real HAC practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 HAC Healthcare Financial Analytics flashcards as text
What is revenue cycle management (RCM) in healthcare analytics?
Answer: The end-to-end process of tracking patient care encounters from registration through final payment
RCM encompasses all administrative and clinical functions that contribute to capturing, managing, and collecting patient service revenue.
A hospital reports a clean claim rate of 72%. What does this metric indicate?
Answer: 72% of submitted claims were accepted for payment without requiring correction or resubmission
Clean claim rate measures the percentage of claims accepted on the first submission, with a higher rate indicating more efficient billing processes.
Which financial risk is most associated with capitated payment contracts in managed care?
Answer: Actuarial risk of enrollee population using more services than the capitation rate anticipated
Under capitation, providers receive a fixed per-member-per-month fee and bear the financial risk if enrolled patients require more care than projected.
In healthcare supply chain analytics, what does 'par level' management involve?
Answer: Maintaining predetermined minimum inventory quantities to prevent stockouts without overstocking
Par level management sets threshold inventory quantities so supplies are reordered when stock falls to that level, balancing availability against carrying costs.
What financial metric is used to evaluate the return generated by a healthcare organization's total invested capital?
Answer: Return on assets (ROA)
Return on assets measures net income relative to total assets, indicating how efficiently the organization uses its capital base to generate profit.
How does a high case mix index (CMI) affect expected reimbursement under Medicare's DRG system?
Answer: It increases reimbursement because a higher CMI reflects treating more complex, resource-intensive patients
A higher CMI means the hospital treats more complex cases, which carry higher DRG weights and therefore generate higher Medicare reimbursement per case.