100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
CRCR Unit 4 (4.1 - 4.9) Post-Service - Financial Care Exam 2024 Questions and Answers Latest (2024 / 2025) (Verified Answers) $12.99   Add to cart

Exam (elaborations)

CRCR Unit 4 (4.1 - 4.9) Post-Service - Financial Care Exam 2024 Questions and Answers Latest (2024 / 2025) (Verified Answers)

 6 views  0 purchase
  • Course
  • Certified Revenue Cycle Representative - CRCR
  • Institution
  • Certified Revenue Cycle Representative - CRCR

CRCR Unit 4 (4.1 - 4.9) Post-Service - Financial Care Exam 2024 Questions and Answers Latest (2024 / 2025) (Verified Answers)

Preview 4 out of 124  pages

  • October 31, 2024
  • 124
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Certified Revenue Cycle Representative - CRCR
  • Certified Revenue Cycle Representative - CRCR
avatar-seller
NurseFerian
CRCR Unit 4 (4.1 - 4.9) Post-Service - Financial Care.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/CRCR%20Unit




CRCR Unit 4 (4.1 - 4.9) Post-Service - Financial

Care Questions & Answers



1. A.The separation of cash handling procedures whereby the same person

who opens and endorses the checks is not responsible for the deposit

B. The establishment of internal audits by personnel outside the involved

department.

C. The routine use of outside auditors to track cash flow

D. The routine reconciliation of daily cash against deposits, postings, and

write-offs

E.The use of multiple levels of authorization for refund checks, write-offs, and

disbursements

Answer Identify internal controls for cash handling



2. EFT is the electronic transfer of funds from payer to payee through the

banking system. It is considered the fastest way to move money because itis

possible to transfer funds between banks on the same day.





1 of 124 10/30/2024, 9:41

,CRCR Unit 4 (4.1 - 4.9) Post-Service - Financial Care.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/CRCR%20Unit




EFT Balancing & Control - EFT simplifies cash balancing & control require-

ments since the cash is deposited directly into the healthcare provider's bank

account.

1. Bank informs healthcare provider of the amount received and issues a

deposit.

2. Healthcare provider balances this deposit to the electronic remittance ad-

vice (ERA) received.

Answer Recognize the general concepts of electronic funds transfer(EFT)



3. Electronic Remittance Advice (ERA) 835 Data Set - A standardized health-

care claim payment remittance advice known as the 835 format is used to

electronically send third-party payment details to healthcare providers.There

are 4 levels of automation that can be used.



A. Level 1 - electronic receipt of data only.

a. Electronic remittance advice is received

b. The information is printed

c. The printout is then processed the same as a paper remittance advice.






2 of 124 10/30/2024, 9:41

,CRCR Unit 4 (4.1 - 4.9) Post-Service - Financial Care.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/CRCR%20Unit




d. Advantages include



1. Saving mail time for remittance

2. Standardized format for data entry



B. Level 2 - electronic receipt & electronic data entry



a. With this level, the electronic remittance is received

b. Entered into the computer electronically.

c. Viewed on a terminal

1. Data entry tasks are eliminated through automated entry of the information,









3 of 124 10/30/2024, 9:41

,CRCR Unit 4 (4.1 - 4.9) Post-Service - Financial Care.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/CRCR%20Unit




but usually there continues to be a manual matching of remittance informa-

tion to an individual account and reconciliation of charges submitted to the

amount paid.

C. Level 3 - electronic receipt, data entry, reconciliation, posting, and closing.

a. Electronic remittance advice is received and entered into a computer

electronically.

b. The remittance data is electronically posted by the patient accounting

software, simultaneously updating the patient's account.

1. Standard adjustment codes must be established to automate entries for

payments, i.e. contractual allowances and other write-offs. Manual interven-

tion is only needed if there is a disagreement or an error.

D. Level 4 - total automation of receipt, data entry, payment posting, and

adjustment processing.

a, In addition to everything included at level 3, this level links with banking in-

formation to allow reconciliation of payments received electronically througha

non-bank network, with funds received electronically.

1. Medicare logs and the secondary billing process are automated using the

ERA. An electronic explanation of benefits received from the primary health

plan is transmitted electronically with the secondary claims. Manual





4 of 124 10/30/2024, 9:41

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller NurseFerian. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

72042 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$12.99
  • (0)
  Add to cart