Assets
The tools employees must complete work and should be tracked due to their high cost
What are assets?
The cost of assets needed to run an organization paid by outsiders
What are liabilities?
Money brought into the business
What is revenue?
Includes every expired (used up) cost that is deductible from revenue.
What are expenses?
Can be liquid or paid off within 12 months
What is current?
Ownership, Economic Value and Resource
What are the three key aspects of assets?
These rates paid on debt vary based on type of debt, length of the loan, and the amount of debt
What are interest rates?
Cash inflows earned from an organization’s major business
What is operating revenue?
The amount of cash expended, property transferred, services performed, or liability incurred in consideration of goods or services received (or to be received).
What are costs?
_______ = Assets - Liabilities
What is net worth?
Cash and cash equivalents, inventory, accounts receivables
What are types of current assets?
Long term loans, mortgages and deferred tax liabilities
What are long term or noncurrent liabilities?
The difference between the full established rate and the agreed-upon contract rate
What are contractual allowances?
The largest cost and expense in most healthcare organizations
What are salaries or labor?
The difference between the full charge amount and what revenue you receive for a service
What are contractual allowances?
Have a physical existence
What are tangible assets?
Lawsuits and product liabilities
What are contingent liabilities?
The amount of expected payment that is not received from patients and/or their payers
What is bad debt?
Payment after the expense is incurred requires that the expense be recorded in....
What is accounts payable?
Providing services without revenue for those unable to pay
What is charity care?
Used for business purposes
What are operating assets?
Accounts payable, salaries payable
What are current liabilities?
Medicare and Medicaid
Sources of revenue from government payors
Grouping by ______ recognizes different sites where service is delivered.
What are care settings?
What is my opinion?