Describe the six basic accounting concepts that all healthcare managers should understand.

1.Describe the key issues associated with managed care and its reimbursement methods. How does managed care impact hospital net revenues?

Your response must be at least 200 words in length.

2.Describe the six basic accounting concepts that all healthcare managers should understand.

3.Why is payer mix so important in healthcare strategic financial planning? What could happen if a healthcare organization’s payer mix changed substantially from one year to the next?

4.Explain the difference between fixed and variable costs for a healthcare organization. Provide and discuss at least one example of a fixed cost in health care and one example of a variable cost in health care.

5. While the operating budget process is underway in June, the capital budget process must also begin. Describe what should be happening in the capital budget process during June of each year.

6. Explain the difference between top-down and bottom-up budgeting, and give the pros, and cons of each. Based upon your learning here, which approach do your personally favor, and why?

7. Why is it so important to present a board-level human resources report in June while the operating budget process is beginning?

8. Healthcare budgeting is critically impacted by business compliance issues such as corporate compliance and accreditation. Discuss key compliance and accreditation issues that are affecting U.S. hospitals at this point in our history.

Berger, S. (2014). Fundamentals of health care financial management: A practical guide to fiscal issues and activities (4th ed.). San Francisco, CA: Jossey-Bass