HFMA CRCR 2023 EXAM QUESTIONS AND ANSWERS

HFMA CRCR 2023 EXAM QUESTIONS AND ANSWERS What are the departments that support and collaborates with the revenue cycle? - CORRECT ANSWERS Information technology, finance, clinic services Information technology - CORRECT ANSWERS enhance patient experience through efficient scheduling tracking and reporting finance - CORRECT ANSWERS provides analysis and reporting to ensure compleane clinic services - CORRECT ANSWERS prepare and serve the patient confirm accuracy of the patients information in a timely manner What do business/organizational ethics represent? - CORRECT ANSWERS principles & standards by which organizations operate ethical behavior - CORRECT ANSWERS the right thing to do not just what is required by law Concept of ethical standards - CORRECT ANSWERS actions that are hoped for & expected by individual & management within the healthcare In Ethics it is important for staff and management - CORRECT ANSWERS to uphold the business ethics and act as peer role model ACO - CORRECT ANSWERS Accountable Care Organization defy Accountable Care Organization - CORRECT ANSWERS Physicians, hospital and other healthcare providers coordinate the care of a patient population What is the intend outcome of collaborations made through ACO? - CORRECT ANSWERS appropriateness of care, no dup services, prevent medical errors for patient ACA - CORRECT ANSWERS Affordable Care Act ACA was designed - CORRECT ANSWERS reform healthcare system that rewards great value improves care and increases efficiency in the delivery of services What is CMS target of moving Medicare payments - CORRECT ANSWERS from volume based to value based payments what is important to understand in moving from volume based to value based initiatives - CORRECT ANSWERS QUALITY reserve amounts on providers financial statements - CORRECT ANSWERS contractual allowances, bad debits, charity care How to report a provider's revenue accurately - CORRECT ANSWERS calculate the difference between gross revenue and net revenue how to determine net revenue - CORRECT ANSWERS financial services estimate the dollar amount of contractual discount allowance with will be applied against those revenues KPI - CORRECT ANSWERS Key Performance Indicator Key Performance Indicators - CORRECT ANSWERS standards for account receivables A/R and provide a method of measuring the collection and control of AR How are days in AR calculated - CORRECT ANSWERS based on the value of the total accounts receivable on a specific date When can AR day calculates can be done - CORRECT ANSWERS for specific payers to evaluate the collection efficiency & payment progress on 3rd party payers or self pay patient