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True/False 1. Two major areas of accounting in health care include financial and cost. 2....

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Accounting

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True/False 1. Two major areas of accounting in health care include financial and cost. 2. Not-for-profit entities do not worry about the bottom line - they don't need to generate a profit to continue as an ongoing concern. 3. Both Medicare and Medicaid reimburse providers for their actual costs of providing healthcare services 4. For-profits actually provide just a much or a little more access to healthcare services than a not- for-profit to patients with little to no health insurance. 5. It is not uncommon for different plans to pay different contractual rates for the same service. 6. If a certain method of grouping revenue for planning and control is generally accepted in other health care facilities, it is not strictly necessary for such a method to be consistent with the current structure of the facility where it is in use. 7. Private pay revenue is more prevalent in hospitals than in nursing facilities or assisted living facilities. 8. The purpose of an organization chart is to indicate how responsibility is assigned to managers and to certain outside third parties

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