BUSI 323 Quiz 1 Billing and Coding solutions complete answers
True or False? A hospital that is caring for a Medicare patient on an outpatient basis generally can increase its reimbursement by providing additional services.
True or False? Since most hospitals are not-for-profit, they are not generally business oriented.
What type of firm is subject to reporting requirements and regulation by the Securities and Exchange Commission?
Larger bundles across multiple providers have recently been created for payment purposes. Which of the following refers to these larger bundles because they involve a longer duration of patient care and involve more providers?
True or False? A hospital that is caring for a Medicare patient on an inpatient basis generally can increase its reimbursement by providing additional services.
True or False? One of the advantages of a nonprofit organization compared with an investor-owned company is that the investor-owned company is subject to federal income taxes.
True or False? Medicare uses resource utilization groups III as its basis for reimbursement to home health agencies.
True or False? All outpatient procedures have an assigned ambulatory payment classification code.
True or False? The earnings of an investor-owned corporation can be subject to double taxation.
Which of the following is the United States' clinical modification of the ICD-10 code set created by the World Health Organization?
Which of the following are owned by the entire community rather than by investor-owners?
True or False? Governmental healthcare organizations are able to raise funds through equity investments.
True or False? Claims editing is initiated once the claim has been submitted to the payer for payment.
True or False? Data in the medical record is the primary source for documenting the provision of services.
Which of the following segments receives little to no funding from private insurance companies?
What are the three primary forms of legal business organization? What are some of the advantages and disadvantages of each form?
What is the difference in the financial management responsibilities of the controller and treasurer?
What are the objectives of not-for-profit firms?
What is the registration process, including the activities that comprise it?
What is the primary distinction between prospective payment and retrospective payment?
What is meant by the “revenue cycle”?
What are the six stages of the revenue cycle?
What is the objective of investor-owned (for-profit) firms?
What are the primary responsibilities of the financial manager?
What is charge explosion?
What is the main difference between the fee-for-service and capitation reimbursement methods?
What are the six elements that should be present, at a minimum, in all charge masters?
What factors contribute to the complexity of the revenue cycle in health care?
Is profit maximization the same thing as shareholder wealth maximization?
