HFMA CRCR QUESTIONS AND CORRECT DETAILED ANSWERS |ALREADY GRADED A

Contribution Margin - CORRECT ANSWER-Difference between marginal revenue and marginal cost. Break-even point - CORRECT ANSWER-Level of sales volume of a product producing the exact amount of contribution margin needed to cover fixed costs. Overhead - CORRECT ANSWER-Indirect Costs Activity-based...

Through what document does a hospital establish compliance standards? - CORRECT ANSWER-code of conduct What is the purpose OIG work plant? - CORRECT ANSWER-Identify Acceptable compliance programs in various provider setting If a Medicare patient is admitted on Friday, what services fall within t...

Steps used to control costs of managed care include: - CORRECT ANSWER-Bundled codes Capitation Payer and Provider to agree on reasonable payment DRG is used to classify - CORRECT ANSWER-Inpatient admissions for the purpose of reimbursing hospitals for each case in a given category w/a negotiat...

CSPR - Certified Specialist Payment Rep (HFMA) Steps used to control costs of managed care include: - CORRECT ANSWER-Bundled codes Capitation Payer and Provider to agree on reasonable payment DRG is used to classify - CORRECT ANSWER-Inpatient admissions for the purpose of reimbursing hospital...

CS BI - HFMAWhat has changed for Healthcare Analytics? - CORRECT ANSWER-1 - Increased computing power and storage, decrease in cost; 2 - increased abundance of data in healthcare; 3 - increase in individuals having strong competencies Big Data - CORRECT ANSWER-Refers to the Growth in available ...

The disadvantages of outsourcing include all of the following EXCEPT: a) The impact of customer service or patient relations b) The impact of loss of direct control of accounts receivable services c) Increased costs due to vendor ineffectiveness d) Reduced internal staffing costs and a reliance ...

What are collection agency fees based on? - CORRECT ANSWER-A percentage of dollars collected Self-funded benefit plans may choose to coordinate benefits using the gender rule or what other rule? - CORRECT ANSWER-Birthday In what type of payment methodology is a lump sum or bundled payment negot...

Overall aggregate payments made to a hospice are subject to a computed "cap amount" calculated by - CORRECT ANSWER-The Medicare Administrative Contractor (MAC) at the end of the hospice cap period Which of the following is required for participation in Medicaid - CORRECT ANSWER-Meet Income and...

Comprehensive Medical Office Budget includes... - CORRECT ANSWER-1. Statistics 2. Operating Expenses and Revenues 3. Capital Expenditures 4. Cash Flows Control Budgets - CORRECT ANSWER-Three types: 1. Operating Budget 2. Capital Budget 3. Cash Budget Cleverley's components of a capital proj...