Discussion:Current Ratio and the Quick Ratio.

1. Discuss the relationship between the current ratio and the quick
ratio.

2. Give three reasons the ratio of Days of Supplies in Inventory could
be lower than the national average for an acute care hospital located in
Chicago Illinois.

3. The capitalization ratio for GSU Hospital is 65% net assets to total
assets. Is this a good ratio for this
type of healthcare institution? Defend
your answer.

4. The average age of
the physical plant for GSU Hospital is 6.7 years. Is this a good statistic as compared to other
similar hospitals in the United States?
Why/Why not?

5. Calculate the Days of Revenue in Accounts Receivable given the
following information for the year ended December 31, 2013: .

Gross patient accounts
receivable $
25,000,000
Gross patient service
revenues $
164,384,000

a.
___________
Days of Revenue in Gross Accounts Receivable
b.
Is this a good ratio? Defend your answer.

6. GSU Medical Clinic plans to purchase a turn-key computer system to handle
the medical records for the seven physician practice. What is a turn key system? Are there any disadvantages/advantages for
purchasing such a system for a medical practice?

7.
Should the GSU Nursing Home
cafeteria maintain a change fund?
Why/why not?

8.
Describe at least three
activities a hospital should employ to prevent fraud and abuse

9.
ABC Hospital maintains its
payroll checking account on an “imprest” basis.
How much money should be in the checking account at the end of the
month?

10. Define the term “upcoding” as it relates to patient account
billing.

11. To whom should the position of Internal Auditor report to? Why?

12. Discuss at least three ways GSU Hospital can prevent fraud/theft
from taking place in its storeroom.

13. Which department(s) should be in charge of the following functions?
(Explain your answer)

a.
Authorizing the payment of overtime pay.
b.
Distributing payroll checks to
employees.
c.
Submitting payroll rate changes
to the payroll computer system.

14. Discuss the physical safety and information security requirements
for GSU Hospital’s Data Center located in the basement of the main
hospital.

15. As part of your academic practicum report, you are to analyze the
last ten years’ financial statements of GSU Hospital. The term “fund balance” shows up in the
hospital’s Balance Sheets. What is this
“fund balance”?

16. At present GSU Hospital’s Days of Expenses in Accounts Payable is 95
days. What operational problems could
you expect to face given such a ratio?
Give at least three examples

17. What is a “stale dated check”?
How does one handle the disposition of such a problem?

18. Give at least one reason for using the LIFO method of inventory in
valuing Pharmacy Drugs at GSU Hospital.
Explain fully.

19. The Medicare auditor has arrived at your nursing home. She has requested access to three specific
patients’ detailed medical bills as well as the related patients’ medical
records. What is she looking for? Why?

20. Your Vice President of Finance states that the facility using a
“sweep banking account”. What is
it? Why would you want to use it?

Discussion:Current Ratio and the Quick Ratio.

21. Who is eligible for Medicare?
List three types of patients currently eligible to enroll in the
Medicare Program. Be specific

22. You, a Medicare patient, were hospitalized for congestive heart
failure on January 22, 2014. After being
discharged January 28, 2014, you were again admitted to the same hospital
suffering from renal failure on February 1, 2014. Describe the Part “A” deductibles and
coinsurance, if any, you would be liable for on this second admission.

23. Based on question 22, you were discharged from the second admission
on February 6, 2014 and admitted to the skilled nursing unit at GSU Nursing
Home on the same day. Will Medicare pay
for this nursing home care? Yes/No. Explain the rationale for your answer.

24. Based on question 23, you were discharged after 22 days in GSU
Nursing Home. What would you, the
patient, have to pay to GSU Nursing Home for your care? Provide the total dollar amount you would be
liable for. Show your calculations.

25. Does the federal government require states to offer home health
services to adults enrolled in the state’s Medicaid program? Yes/No

26. GSU insurance company is Medicare’s Intermediary. What does this mean?

27. Calculate the physician’s Medicare reimbursement and the amount the
patient must pay under the following scenarios:

Given: Dr. Gellatly bills $120.00 for an
intermediate office visit. The usual and

customary Medicare payment
is $90.00. The patient’s net taxable
income for 2013 was
$42,000. She filed a single person’s federal income
tax return.

a. Dr. Gellatly accepts Medicare assignment Medicare ____ Patient ____
b. Dr. Gellatly does not accept Medicare
assignment Medicare ____ Patient ____

28. GSU Hospital received an invoice dated February 21, 2014 for
$9,000.00.
The invoice total included
$400.00 in sales taxes and $150.00 in freight costs.
The terms of the invoice were
2EOM.

a. If the hospital paid the bill on time, how
much would be the discount amount?
b. When did the invoice have to be paid in order
to earn the discount?

29. GSU Hospital received an invoice with terms stated FOB Shipping
Point.

a. Who pays the freight costs?
b. When does title to the goods transfer to GSU
Hospital?

30. How often does the Medicare
program require hospitals to take the following
physical inventories?

a. Supplies
b. Property, plant and equipment assets

31. Discuss how a hospital records the value of goods taken on
consignment. For example,
art work available for sale in
the hospital’s gift shop.

32. Your friend has made the
following statements. Is she correct or
wrong?
Defend your answers.

a. While your friend was visiting London
England, she broke her leg. She said
that
Medicare would pay the
bill.
b. “Medicare is going broke because of expensive
nursing home and retirement
home costs for the
babyboomers.”
c. “Medicaid is going broke because of all of
those welfare moms and their kids.”

 

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