Exam Preview

Marrying a Private Practice: Operationalizing Your Business

---

1.  Financial projections needed to complete the business plan include: Start-up expenses, Cash flow projections and Break-even analysis. Carpet color selection What kind of seating you will have in the lobby How many windows there will be in your office

2.  Where can audiology equipment be sourced? Directly from manufacturers Resale from other practice owners Resale from used equipment dealers All the above

3.  When selecting services to provide in the practice, the owner should consider: State audiology licensure laws regarding scope of practice Equipment needs and costs to provide the service How many CPT codes can be entered in one day by the billing department. Both A & B

4.  Service selection should NOT be determined by: Unmet need of one patient The financing you are able to secure The needs of your market Your financial goals

5.  Which of the follow goes into determining your break-even calculation? Profit Margin Rent or Mortgage cost Cost of goods sold Business assets

6.  What questions should you ask when determining your profit margin? What can the market bare? What age do you plan to retire? How many hours per week will providers see patients? All of the above

7.  An owner should purchase equipment________ . Based on all they could possibly need in the life of the business Based on just what they need to provide initial services Based on anything they can get currently on sale None of the above

8.  Determining your profit margin is: A simple calculation Based on your break-even analysis A very personal and individual decision None of the above

9.  Who can business owners consult when selecting utilities for their start up practice? Landlords, Construction contractors and Business neighbors and Utility providers directly Your childhood friend Google A patient

10.  When selecting services to be provided in the practice, the owner should consider which of the following to ensure the service can be safely and effectively provided? How many employees are needed How large of space is needed What equipment will be needed All of the above