Hca 270 Week 4 Assignment Ch

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Cost Classifications HCA/270 Version 3 1 Associate Level Material Cost Classifications Consult Ch. 6 & 7 of Health Care Finance and other sources to complete the form. This worksheet requires you to match the definitions and examples of types of cost, and the types of centers where costs occur. Part 1: For each term in Column A, select the correct definition from Column B on the right. Write the corresponding letter of the definition next to the term. Part II: For each real-world example, select the correct term from the list on the left. Write the corresponding letter of the real-world example next to the term. Column A F 11 Indirect costs A 11 Direct costs D 11 Fixed costs I E C B H G 11 Variable costs 11 Step-fixed costs 11 Responsibility centers 11 Revenue centers 11 Cost centers 11 Shadow cost centers Column B – Definitions A. Costs incurred directly as a result of providing a specific service or good B. Centers charged with controlling costs and generate revenue C. Have no revenue budget and no obligation to earn revenue

Annualizing Staff HCA/270 Version 3 1 Associate Level Material Annualizing Staff Consult Ch. 9 of Health Care Finance and other outside sources to complete the worksheet. Part I: Taking information for the following scenario, complete the table accordingly by listing the number of days next to each category. Remember, a business year is divided into quarters. Therefore, when calculating a business year, you must divide the year into 52 weeks, which creates 13 months of 28 days, or 4 weeks. This translates into 4 quarters of 91 days, as there are 364 days in a business year. You are the office manager for a site the physician group owns. You are working on the budget for next year. Your boss has asked you to annualize staff at both sites, because the second site’s office manager is on family leave. You agree to do both sites. To annualize the staffing, you must convert the staff’s net paid days worked to a factor. Both offices are open and staffed 7 days a week, per the agreement with two managed care

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