HFMA CHFP Module 1 LATEST FINAL TEST REVIEW QUESTIONS & ANSWERS

HFMA CHFP Module 1 LATEST FINAL TEST REVIEW QUESTIONS & ANSWERS

1. Which of the following best describes the concept of "valuebased purchasing" in healthcare?
 - A) Payment method based on the volume of services provided.
 - B) Financial incentives for improving patient outcomes and
quality of care.
 - C) Traditional fee-for-service with emphasis on cost reduction.
 - D) Exclusive contracting with suppliers for better pricing.
 - Correct ANS: B
2. In healthcare risk management, "Enterprise Risk
Management" (ERM) is primarily aimed at:
 - A) Managing clinical risks only.
 - B) Minimizing financial losses from insurance claims.
 - C) Integrating risk management across all departments and
identifying a wide range of risks.
 - D) Focusing solely on regulatory compliance.
 - Correct ANS: C
3. Which of the following is a key financial risk management
strategy for healthcare organizations? 

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