Reference no: EM132949063

Problem 1: Which of the following are unique to the reporting of revenue by a health care entity?

Multiple Choice

Option 1: Charity care must be reported even if the entity does not anticipate seeking collection.
Option 2: The patients pay for little of the services, and significant discounts are common.
Option 3: Reported bad debt expenses will increase significantly under new rules.
Option 4: Standard charges are recorded as the revenue and receivable balances.

Problem 2: A health care entity provides services to a patient. Those services have a standard charge of $76,000. The insurance company that represents the patient has a contract with the entity that leads to a $20,000 reduction in that charge. That reduction is referred to by which of the following labels?

Multiple Choice

Option 1: Standard legal hospital abatement amount
Option 2: Implicit price concession
Option 3: Discounted health care monitoring fee
Option 4: Explicit price concession