Exam 5: Healthcare Economics

The nurse managers of a hospital are working to identify the physical skills and actual nursing time spent to accomplish specific procedures. This work is most closely associated with which type of reimbursement strategy?

Which statement best describes the impact diagnosis-related-groups (DRGs) have on the healthcare system?

The nursing unit is being asked to decrease costs by 10% this year. The manager takes this request to the nursing staff for suggestions to meet the goal. Which suggestions would be helpful in this endeavor? 1. Liability that is incurred from the acquisition of an asset 2. Costs that do not increase or decrease due to changes in volume 3. Smallest functional unit 4. A financial statement identifying assets and liabilities 5. A decrease in the organization's equity due to operations Choices: Balance sheet Cost center Expense Fixed costs Indirect costs Liability Overhead

The staff at a primary care office is asked to document the time the patient checks in, the time the patient is called into the exam room, and the time the patient is checked out. This is an example of what managed care strategy?

The vice president of nursing services is completing a budgetary report for the governing board meeting this week. In which category should this nurse place the total expenditure for health benefits for nursing employees?

If you were explaining Medicare and Medicaid, which of the following statements would you include? Select all that apply

Today's healthcare is generally financed through a third party payer system. Who is the second party in this system?

What is the difference in the healthcare customer and the healthcare consumer?