Payment Methods
Payment Methods 2
Health Insurance and Budgeting 1
Budgeting 2
Budgeting 3
100
Federally funded insurance program for the disabled, those with End Stage Renal Disease, and those over 65 who qualify for social security.
What is Medicare
100

An economic term that refers to a small or insignificant change in some variable.

What is Marginal.

100
A method for individuals to maintain insurance coverage for health care costs through a contract with a health insurance company that agrees to pay all or a portion of the cost of a set of defined healthcare services.
What is Private Health Insurance
100
Financial plan for the allocation of the organizations resources and a control for ensuring that results comply with the plan.
What is Budget.
100
The difference between the planned budget and the actual results.
What is Variance.
200
Federally and State funded insurance program for the elderly, poor, blind, disabled, and families with dependent children.
What is Medicaid.
200

The payment methods where providers are paid based on the number of services.

What is fee-for-service reimbursement

200
A licensed health care professional or an organization that receives reimbursement for providing health care services.
What is Provider
200

Materials used in performing tasks within the organization. Typically includes clinical disposables, pharmaceuticals, and office materials.

What is Supplies.

200
Money that a health care organization receives in exchange for providing health care or other related services through normal business activities.
What is Revenue
300
A common method of reimbursement for health care services based on a predetermined fixed price-per-case or diagnosis.
What is DRG's (Diagnosis-Related groups)
300

Unpaid costs from one payer covered by getting higher revenue from another to continue operations.

What is Cost Shifting.

300
An organization other than the patient and the provider, such as an insurance company, that assumes responsibility for payment of health care charges.
What is Third-party payer.
300

Budget category that typically includes payment for salaries and facilities.

What is Fixed Cost.

300
The process of analyzing the differences in the planned budget results and the actual results;involves quantitative and qualitative analysis.
What is Variance Analysis
400
A federal statute enacted in 2010 that requires U.S. citizens and legal residents to have health insurance through comprehensive healthcare reform.
What is Patient Protection and Affordable Care Act
400
Organizations that minimize payment of charges for inappropriate or excessive healthcare.
What is Managed Care Organizations.
400
Statements that reflect issues affecting the future performance of the organization, used as the framework for developing the budget.
What is Budget Assumptions.
400
An approach to Budget development that begins as though the Budget were being prepared for the first time.
What is Zero-based budgeting.
400

Amount spent on items that will have long-term value to an organization.

What is Capital Expenditures.

500
A method of reimbursing providers in which the insurance company pays the provider a set payment each month to provide a defined set of health care services for the patient enrolled in the insurance company's health plan.
What is Capitation.
500
A payment method that reimburses healthcare providers based on the quality of care provided.
What is Pay-for-Performance.
500
A 12 month period used for calculating annual financial reports in business.
What is Fiscal Year
500

An event or item that requires the money for purchase or future payment.

What is Expense.

500
An approach to budget development that extrapolates from the prior period's budget and adjusts for future growth or decline in revenues or expenses to determine the budget for the next period.
What is Incremental Budgeting.
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