Variance analysis is an examination and interpretation of what has actually happened versus what…

Variance analysis is an examination and interpretation of what has actually happened versus what was expected to happen. TRUE OR FALSE

2- One element of the revenue cycle (and perhaps the most important) is the management of receivables—that is, the:

a- payments from patients deductibles

b- management of monies owed to a provider (predominantly by third-party payers).

c- Rebates from suppliers

d- None of the above

3- Revenue cycle activities typically are broken down into four phases, based on their timing:

a- those that occur before the service is provided

b- those that are simultaneous with the service

c- those that occur afterward

d- those that are continuous

e- All of the above

4- The average collection period, commonly called days in patient accounts receivable, is the average time that it takes a provider to collect for services rendered

TRUE OR FALSE

5- Perhaps the greatest problem in inventory management is the fact that inventories must be acquired BLANK.