To combat Moral Hazard, insurers will often use a deductible and/or co-insurance. If Bob incurs a $4500 medical bill and has 30% co-insurance and a $500 deductible, what is the amount Bob will have to pay

To combat Moral Hazard, insurers will often use a deductible and/or co-insurance.  If Bob incurs a $4500 medical bill and has 30% co-insurance and a $500 deductible, what is the amount Bob will have to pay?

Type the dollar amount

2. ICD and CPT codes are established by what two organizations respectively?

A

World Health Organization and American Hospital Association

B

International Association of Disease Classification and the AMA

C

Current Procedure Association and the World Health Organization

D

World Health Organization and the American Medical Association

3. Managers calculate and use an organization’s “underlying cost structure” in order to

A

make decisions

B

help control costs

C

help in planning

D

forecast costs at different volumes

E

All of the above

F

A and D

4. The primary difference between an income statement and a P&L statement is that the latter is better used for internal non-GAAP decision-making, while the former is created for all levels and subunits of the organization.

  True

  False

5. An overhead allocation rate is derived by dividing the overall cost pool by the overall cost driver.

  True

  False

6. Which of the following is NOT one of the steps in deriving the time-driven activity-based costing?

A

Identify the payment source

B

Process mapping for each activity

C

Estimate supply costs

D

Select the medical condition

7. There are only 2 orthopedic specialty clinics in a large metro area.  The various insurers for that area would be considered “price-setters.”

  True

  False

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