Hfma test 1 Study guides, Class notes & Summaries

2024 CRCR Test Review Complete Questions & Answers (Solved) 100% Correct 1. Important revenue cycle activities in the pre-service stage include Answer: Obtaining or updating patient and guarantor information 2. In the pre-service stage, the cost of the scheduled service is identified andthe patient's health plan and benefits are used to calculate; Answer: The amount the patient may be expected to pay after insurance. 3. Demographic and health plan edit failures are identified and reso...

1. The 501(r) regulations require not-for-profit providers 501(c) (3) to do which of the following activities? A. Complete a community needs assessment and develop a discount program for patient balances after insurance payment. B. Pursue extraordinary collection activities with all patients eligible for financial assistance. C. Implement a financial assistance program for uninsured and underinsured patients. D. Discount all charges to self-pay patients to an amount generally billed to a...

HFMA CRCR REVIEW QUESTIONS WITH CORRECT ANSWERS Which option is NOT a main HFMA Healthcare Dollars and Sense revenue cycle initiative? A) Patient Financial Communications B) Medical Account Resolution C) Price Transparency D) Process Compliance - CORRECT ANSWER-D) Process Compliance Approximately what ______% of billing information is obtained during the registration process (Patient Access). - CORRECT ANSWER-40% What is the objective of the HCAHPS initiative? A) To conduct evalua...

HFMA Test 7: Contracts Questions and Answers 2023 Purpose of Contracts Purpose Contracts will be used to define terms between two or more parties for the provision of a service or product. In health care, contracts are used for: Health plan or payer agreements. Construction projects. Collection services. Maintenance on equipment. Leasing space. Employment of contracted staff, and a variety of other items For a contract to be valid, individual must do three things Valid Contra...

HFMA test 4 Questions Answered 100% correct, updated latest 2023 Strategic Planning Process includes: Strategic Planning Process includes: Identifying the organization's current position, including its mission, vision, and long-term goals. Conducting an internal and external assessment and comparing the organization's condition against those findings. This is often called a SWOT analysis. Define environmental Assessment An environmental assessment is an examination of what's hap...

CRCR Exam Prep Questions And Answers on Flashcard 2023 Update A+ HFMA - ANS-Healthcare Financial Management Association Revenue Cycle Overview: What are the 3 segments? - ANS-Pre-Service, Time of Service, Post-Service Scheduling is part of which segment of the Revenue Cycle? - ANS-Pre-service Patient-Centric Revenue Cycle - ANS-1) Engaged Consumer 2) Engaged Patient 3) Satisfied Customer Healthcare Dollars & Sense - ANS-1) Price Transparency 2) Patient Financial Communications ...

CRCR Test Review Questions and Answers | 2023 | 33 Q&As 1. Important revenue cycle activities in the pre-service stage include; ANS Obtain- ing or updating patient and guarantor information 2. In the pre-service stage, the cost of the scheduled service is identified and the patient's health plan and benefits are used to calculate; ANS The amount the patient may be expected to pay after insurance. 3. Demographic and health plan edit failures are identified and resolved within the Pa...

CRCR Exam Unit 1. Latest Review Test Q&A (A+) Net Days in AR - ANSWER:Measures how fast receivables are collected. It is a trending indicator of overall A/R performance & revenue cycle efficiency. A/R Aging - ANSWER:Reports divide the AR into 30, 60, 90, and 120 day categories, based on discharge. Credit Balances - Days Outstanding - ANSWER:The dollars in credit balance at the account level divided by the three month daily average of total net patient service revenue. Credit balance...

CRCR Exam Unit 1. Latest Review Test Q&A (A+) Net Days in AR - ANSWER:Measures how fast receivables are collected. It is a trending indicator of overall A/R performance & revenue cycle efficiency. A/R Aging - ANSWER:Reports divide the AR into 30, 60, 90, and 120 day categories, based on discharge. Credit Balances - Days Outstanding - ANSWER:The dollars in credit balance at the account level divided by the three month daily average of total net patient service revenue. Credit balance...