Updating accounts receivable is part of revenue cycle.
The procedure used by healthcare systems in the United States and around the world to track patient income, from their initial appointment or encounter with the healthcare system to their final payment of debt, is known as revenue cycle management (RCM). It is a typical component of healthcare management.
What is revenue cycle?
- The phrase "all administrative and clinical functions that contribute to the capture, management, and collection of patient service revenue" can be used to describe the revenue cycle.
- It is a cycle that explains and illustrates a patient's life cycle (and the ensuing income and payments) during a typical medical interaction, from admission (registration) through final payment (or adjustment off of accounts receivables).
- After a patient makes an appointment, the revenue cycle starts, and it ends when the healthcare provider has taken all of the payments. Errors in revenue cycle management may result in payments to the healthcare provider being delayed or nonexistent altogether.
- Healthcare providers can outsource their revenue cycle management to businesses that handle this complex process with specialized agents and proprietary technologies to manage healthcare provider revenue cycles because the revenue cycle process is complex and subject to regulatory supervision.
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Answer:
The correct answer is the option B: expatriate assignment.
Explanation:
To begin with, the term of <em>expatriate</em> refers to the person who is currently living abroad in a certain amount of time and primarily for work reasons. This professional worker takes a position outside her home country and that could be done as part of a work assignment scheduled by the employer of the individual. Moreover, expatriate assigment individuals also earn more money than the regular workers at home and furthermore the company generally helps the expatriate in relocation assistance and housing allowance.
Secondly, the case of Marika is a general example of expatriate assigment due to the fact that her company may have ordered her to leave for a period of time to other countries in order to find news and investigate about certain topics and in order to do that the company will pay her so she can do her job properly and then go back home and share her information with her colleagues.
Answer: d) Dividends cause equity to decrease.
Explanation:
Dividends are payments to shareholders as a way of sharing the profit that the company made with its owners. Net profit is added to the Equity of company.
In other words, dividends cause equity to decrease because they are taken from Retained Earnings (net income) which are added to Equity. By reducing the amount of Retained earnings available therefore, dividends are reducing Equity.
Answer:
It is cheaper to make the units in-house.
Explanation:
Giving the following information:
Make in-house:
Direct material $ 8
Direct labor 24
Overhead 40
Total costs per unit $72
Buying price= $60
<u>We need to determine which option provides the lower cost. Because 40% of overhead will remain constant, we have to take it out of the equation.</u>
<u>Production cost:</u>
Direct material $ 8
Direct labor 24
Overhead= 40*0.6= 24
Total production cost= $56
It is cheaper to make the units in-house.
Answer:
I prepared the attached excel spreadsheet because there is not enough room here. The first payment is made on December 2019.
