Certified Revenue Cycle Representative - CRCP (2021) HFMA.org Exam 100% Correct!!
Patients considered scheduled - ANSWERrecurring/series patients
Which option is NOT a type of denial. - ANSWERContractual adjustment
Which option is NOT a lien type? - ANSWERSubrogation
Which Items are required components of a financial assistance policy? - ANSWERConcise statement of the hospital's mission
Guidelines for bad debt or previous unpaid accounts
Installment arrangement guidelines
Payment Methods
A clearly defined financial assistance statement
Which activity is not considered when initiating self-pay follow up and account resolution activities? -
ANSWERPatient Open Balance Billing
Which option is NOT a required component of a FAP? - ANSWEROut of Network Providers
Match the title to the appropriate consumer credit protection act component. - ANSWERTruth in lending act - Title 1
Restrictions on garnishment - Title III
Fair debt collections practices act - Title VIII
Fair credit reporting Act - Title VI
Which is not a bankruptcy type governed by thee 1979 bankruptcy act? - ANSWERCreditor priority Which evaluation criteria demonstrates reputation expectations? - ANSWERThe employment of staff who have documented experience working in financial areas of health care.
Agency fees are: - ANSWERThe cost to the provider for collecting agency monies offset by the return on baddest accounts.
The correct way to handle the retention and payment of agency fees is? - ANSWERFollow the contractual agreement between the agency and the provider as to how monies sent to the agency will be handled.
Patient Relations Include? - ANSWERThe ability to sensitively deal with patients or individuals while managing collection efficiency.
Collection agency reports should be provided: - ANSWERIn at least two formats regarding accounts assigned on a routine basis.
Collection results are: - ANSWERAccurately calculated to demonstrate the actual recovery percentage rate.
Which option is NOT a HFMA best practice. - ANSWERCoordinate the resolution of bad debt accounts
with a law firm.
T or F: The following statement represents an advantage of outsourcing: Access to qualified staff. - ANSWERTrue or T
T or F: The following statement represents an advantage of outsourcing: Vendors absorbs some financial risk based on "efficiency" factor - ANSWERTrue of T
T or F: The following statement represents an advantage of outsourcing:
Impact on direct control of accounts receivable. - ANSWERFalse
T or F: The following statement represents an advantage of outsourcing:
Capitalizes on the economies of scale. - ANSWERTrue
Patients considered scheduled - ANSWERrecurring/series patients
Which option is NOT a type of denial. - ANSWERContractual adjustment
Which option is NOT a lien type? - ANSWERSubrogation
Which Items are required components of a financial assistance policy? - ANSWERConcise statement of the hospital's mission
Guidelines for bad debt or previous unpaid accounts
Installment arrangement guidelines
Payment Methods
A clearly defined financial assistance statement
Which activity is not considered when initiating self-pay follow up and account resolution activities? -
ANSWERPatient Open Balance Billing
Which option is NOT a required component of a FAP? - ANSWEROut of Network Providers
Match the title to the appropriate consumer credit protection act component. - ANSWERTruth in lending act - Title 1
Restrictions on garnishment - Title III
Fair debt collections practices act - Title VIII
Fair credit reporting Act - Title VI
Which is not a bankruptcy type governed by thee 1979 bankruptcy act? - ANSWERCreditor priority Which evaluation criteria demonstrates reputation expectations? - ANSWERThe employment of staff who have documented experience working in financial areas of health care.
Agency fees are: - ANSWERThe cost to the provider for collecting agency monies offset by the return on baddest accounts.
The correct way to handle the retention and payment of agency fees is? - ANSWERFollow the contractual agreement between the agency and the provider as to how monies sent to the agency will be handled.
Patient Relations Include? - ANSWERThe ability to sensitively deal with patients or individuals while managing collection efficiency.
Collection agency reports should be provided: - ANSWERIn at least two formats regarding accounts assigned on a routine basis.
Collection results are: - ANSWERAccurately calculated to demonstrate the actual recovery percentage rate.
Which option is NOT a HFMA best practice. - ANSWERCoordinate the resolution of bad debt accounts
with a law firm.
T or F: The following statement represents an advantage of outsourcing: Access to qualified staff. - ANSWERTrue or T
T or F: The following statement represents an advantage of outsourcing: Vendors absorbs some financial risk based on "efficiency" factor - ANSWERTrue of T
T or F: The following statement represents an advantage of outsourcing:
Impact on direct control of accounts receivable. - ANSWERFalse
T or F: The following statement represents an advantage of outsourcing:
Capitalizes on the economies of scale. - ANSWERTrue
