CPPM Exam Prep Quiz_Updated Questions and Answers 100% A+ Graded

CPPM Exam Prep Quiz_Updated Questions and Answers 100% A+ Graded *Efficiency - CORRECT ANSWER-Process & doing things right *Effectiveness - CORRECT ANSWER-Outcomes & doing the right thing Accural Accounting - CORRECT ANSWER-Records revenues when they are earned & expenses when they have been accrued. Provides a more accurate reflection of your current financial situation Cash Based Accounting - CORRECT ANSWER-Recognizes revenue only when cash is collected & expenses when cash is paid. Provides a truer reflection of actual cash on hand & requires less reconciliation Chart of Accounts - CORRECT ANSWER-Lists all potential accounts for all financial information (income, expenses, assets, liabilities, equities Income Statement - CORRECT ANSWER-Records all revenues & expenses associated with the business for a specified time. Summary of a company's profit or loss during a given period Balance Sheet - CORRECT ANSWER-Snapshot of buisness' financial condition at specific time. Includes values for assets, liabilities & stockholders equity Cash Flow Statement - CORRECT ANSWER-Financial statement used to maintain awareness of funds (cash available) to support ongoing business operations Break Even Point - CORRECT ANSWER-Point where revenues for services minus all variable expenses = the fixed expenses & add'l revenue will start creating a profit for the business OSHA - CORRECT ANSWER-*Procedures for reporting a file * Evacuatin procedures during emergency *fire extinguisher locations * Emergency contacts & info * Designated meeting location * Staff assignments & responses **Revenue Per Visit (RPV) Calculated - CORRECT ANSWER-Review payor contracts = Toal amount collected ./. total # pt visits **Days in A/R formula - CORRECT ANSWER-total A/R ./. (total charges ./. total days in A/R (i.e. $558039 ./. ($700,00 ./. 60) Medical Necessity - CORRECT ANSWER-Most important criteria for E&M Days in A/R - CORRECT ANSWER-How long it takes to collect a charge. Good is less than 40 days **Days in A/R forumula - CORRECT ANSWER-Total A/R ./. Total charges ./. # of days for charges Assests = - CORRECT ANSWER-liabilities & equity Assests - CORRECT ANSWER-If assests are higher than liabilites, that's a good thing **Net Collection Rate - CORRECT ANSWER-Total Receipts - Refunds ./. Total Charges - Contractual Adj Bad Deb Ratios - CORRECT ANSWER-Total bad debt for period ./. total charges for period Denials Report & Denials Rate - CORRECT ANSWER-Total # of denials ./. total claims submitted *LLC - CORRECT ANSWER-Limited Liaiblity Company - unlimited owners & limit the am't of taxes *Disaster Recovery Planning - CORRECT ANSWER-Should include prevention, detection & correction *Pod - CORRECT ANSWER-Has nurses, exam rooms & physicians offices all located in the same area *Quantitative Risk Analaysis - CORRECT ANSWER-Measure of the probabilities of variouus adverse events & the likely extent of the losses if a particular event occurs EHR Date - CORRECT ANSWER-1/1/2015 - Providers who have NOT implemented EHR will begin to see a reduction in Medicare payment Procedure Code Sets - CORRECT ANSWER-ICD 9 CM Volume II (hospital input charges HCPCS Level II CPT CPT & HCPCS Dates - CORRECT ANSWER-1/1 ICD 9 Dates - CORRECT ANSWER-10/1 Bad Debt Ratio - CORRECT ANSWER-bad debt right offs are adjustments that will result in no collections Bad Debt Ratio - CORRECT ANSWER-Total bad debt for period ./. total charges for period