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To see if you truly understand purchasing and materials management, answer the f
To see if you truly understand purchasing and materials management, answer the five questions below (each are worth 2 points each). Submit the questions and answers in a Word document (with APA title page). Due date is March 26th. This activity is optional.
Shrinkage is calculated using which of these formulas? (2 pts)
a. Total number of units on hand ÷ Average daily units used
b. Cost of goods sold ÷ Average inventory
c. Net income ÷ Inventory
d. (Total book value – Observed value) ÷ Inventory
True or False: Culturally, materials management is similar to housekeeping and maintenance. (2 pts)
Supply billing is based on two different coding systems. What are they? (2 pts)
Code sets that describe supply items include which of the following? (2 pts)
DRG
UPS
HCPCS
ICD
True/False-Hospitals generally adopt one best markup percentage for fees associated with supplies. (2 pts)
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