Question
1 Why are health care organizations motivated to track the actual costs of services? Both GASB and FASB require it. They must report their actual
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Why are health care organizations motivated to track the actual costs of services? |
Both GASB and FASB require it. |
They must report their actual expenses so that third-party payors will reimburse them. |
Third-party payors contract with the organization to reimburse a set amount, and the organization risks a loss if costs are greater than the amount reimbursed. |
Any amount not reimbursed by a third-party payor or paid by the patient must be included in the amount reported as charity care.
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