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Practice for CPPM Exam All Answers Correct Financial Management What is the primary difference between accrual accounting and cash-based accounting? Options: a. Accrual accounting recognizes revenue when cash is collected, while cash-based accounting recognizes revenue when earned; b. Accru...

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  • July 18, 2024
  • 8
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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Practice for CPPM Exam All Answers Correct
Financial Management



What is the primary difference between accrual accounting and cash-based accounting?

Options: a. Accrual accounting recognizes revenue when cash is collected, while cash-based accounting
recognizes revenue when earned; b. Accrual accounting recognizes revenue when cash is collected,
while cash-based accounting recognizes revenue when earned

Answer: b. Accrual accounting recognizes revenue when earned, while cash-based accounting
recognizes revenue when collected



What is the purpose of a chart of accounts?

Options: a. To list all potential accounts for financial information; b. To track only revenues and
expenses

Answer: a. To list all potential accounts for financial information



Efficiency and Effectiveness



What is the difference between efficiency and effectiveness?

Options: a. Efficiency is doing things right, effectiveness is doing the wrong things; b. Efficiency is doing
things right, effectiveness is doing the right things

Answer: b. Efficiency is doing things right, effectiveness is doing the right things



OSHA



What are some key elements of an OSHA plan?

Options: a. Evacuation procedures, fire extinguisher locations, emergency contacts; b. Reporting
procedures, evacuation procedures, fire extinguisher locations

Answer: b. Reporting procedures, evacuation procedures, fire extinguisher locations



Revenue and Cash Flow

, How is Revenue Per Visit (RPV) calculated?

Options: a. Total amount collected divided by total number of patient visits; b. Total number of patient
visits divided by total amount collected

Answer: a. Total amount collected divided by total number of patient visits

Quantitative Risk Analaysis ✅Measure of the probabilities of variouus adverse events & the likely extent
of the losses if a particular event occurs



EHR Date ✅1/1/2015 - Providers who have NOT implemented EHR will begin to see a reduction in
Medicare payment



Procedure Code Sets ✅ICD 9 CM Volume II (hospital input charges

HCPCS Level II

CPT



CPT & HCPCS Dates ✅1/1



ICD 9 Dates ✅10/1



Bad Debt Ratio ✅bad debt right offs are adjustments that will result in no collections



Bad Debt Ratio ✅Total bad debt for period ./. total charges for period



State Prompt Payment Laws ✅If payments are late by insurance companies



The following will NOT prevent claim denials ✅Provide medical documentation with an appeal letter to
support the service rendered



Productivity Report ✅Details the volume of procedures being performed by each provider

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