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Below is a list of possible effects for each transaction and the possible effect on revenue: Patient service revenue Contractual adjustments Other revenue (exchange) Other
Below is a list of possible effects for each transaction and the possible effect on revenue:
- Patient service revenue
- Contractual adjustments
- Other revenue (exchange)
- Other revenue (nonexchange)
- No revenue
For the following transactions or events, match the letter above to illustrate the possible effects the transaction would have on revenue. Then provide detailed rationale for the matches.
- The hospital provided medical care valued at $96,000 for homeless citizens.
- The hospital received a $15,000 federal grant to provide immunizations to children.
- A pharmaceutical firm donated recently approved drugs valued at $19,000. The hospital uses a similar type drug in its operations.
- Received $10 co-pay from a patient for an outpatient visit. Billed $800 to insurance.
- Geezer Health Insurance paid $625 as final payment on the $800 billed in the previous transaction.
- Gift shop sales amounted to $3,200.
- A local civic group provided labor to manage the hospital's information desk. The labor was valued at $24,000.
- Patient accounts of $1,800 were written off.
- The hospital received $900 for CPR training provided to the city police department.
- A grateful patient donated $1,000 for unrestricted use by the hospital.
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