Question 1

Do health care providers record as revenue what they charge customers, or the net amount after contractual allowances?

Accepted Answer

They record the net amount after contractual allowances as revenue.

Question 2

The difference between a health care provider's stated charge and the payment agreed to with a third-party payer is called a ____________________.

Accepted Answer

Contractual allowance

Question 3

All third party payers are private insurance companies.

Accepted Answer

A) True 
 B)False

Question 4

Discuss two significant details of the Patient Protection and Affordable Care Act of 2010.

Accepted Answer

1) Businesses with 50 or more employees must offer health insurance coverage to employees; 2) Individuals must purchase health insurance coverage or face an annual fine; 3) Insurers must eliminate annual and lifetime maximums on benefits; 4) Insurers must eliminate co-pays for services deemed essential; 5) Insurers may not exclude someone from coverage due to preexisting medical conditions; 6) Each state has insurance exchanges where clients (businesses and individuals) can compare costs, premiums, and coverage for plans offered within that state; 7) Accountable Care Organizations (ACO) are encouraged to increase quality and reduce/maintain costs of medical care.

Exam 3: The Financial Environment of Health Care Organizations

Do health care providers record as revenue what they charge customers, or the net amount after contractual allowances?

Correct Answer
verified
They record the net amount after contractual allowances as revenue.

The difference between a health care provider's stated charge and the payment agreed to with a third-party payer is called a ____________________.

Correct Answer
verified
Contractual allowance

All third party payers are private insurance companies.

Correct Answer
verified

Discuss two significant details of the Patient Protection and Affordable Care Act of 2010.

Exam 3: The Financial Environment of Health Care Organizations

Do health care providers record as revenue what they charge customers, or the net amount after contractual allowances?

Correct AnswerverifiedThey record the net amount after contractual allowances as revenue.

The difference between a health care provider's stated charge and the payment agreed to with a third-party payer is called a ____________________.

Correct AnswerverifiedContractual allowance

All third party payers are private insurance companies.

Correct AnswerverifiedShow Answer

Discuss two significant details of the Patient Protection and Affordable Care Act of 2010.

Correct Answer
verified
They record the net amount after contractual allowances as revenue.

Correct Answer
verified
Contractual allowance

Correct Answer
verified