CRCR 1 - Revenue Cycle Introduction

hich of the following statements are true of HFMS's Patient Financial Communications Best Practices? (Pre-Test 1) The best practices were developed specifically to help patients understand the cost of services, their individual insurance benefits, and their responsibility for balances after insurance if any. 3 MULTIPLE CHOICE OPTIONS Corporate compliance programs play an important role in protecting the integrity of operations and ensuring compliance with federal and state requirements. The Code of Conduct is: (Pre-Test 1) All of the above. 3 MULTIPLE CHOICE OPTIONS The patient experience includes all of the following except: (Pre-Test 1) The average number of positive mentions received by the health system or practice and the public comments refuting unfriendly posts on social media sites. 3 MULTIPLE CHOICE OPTIONS Specific to Medicare fee-for-service patients, which of the following payers have always been liable for payment? (Pre-Test 1) Public health service programs, Federal grant programs, veteran affairs programs, black lung program services and work-related injuries and accidents (workers' compensation claims). 3 MULTIPLE CHOICE OPTIONS Provider policies and procedures should be in place to reduce the risk of ethics violations. Examples of ethics violations include: (Pre-Test 1) All of the above 3 MULTIPLE CHOICE OPTIONS Providers are now being reimbursed with a focus on the value of the services provided, rather than volume, which requires collaboration among providers. What is the intended outcome of collaborations made through an ACO delivery system for a population of patients? (Pre-Test 1) To eliminate duplicate services, prevent medical errors and ensure appropriateness of care. 3 MULTIPLE CHOICE OPTIONS Historically, revenue cycle has dealt with contractual adjustments, bad debt and charity deductions from gross revenue. Although deductions continue to exist, the definition of net revenue has been modified through the implementation of ASC 606. Developed by the Financial Accounting Standards Board (FASB), this change became effective in 2018. What is the new terminology now employed in the calculation of net patient service revenues? (Pre-Test 1) Explicit price concessions and implicit price concessions. 3 MULTIPLE CHOICE OPTIONS Key performance indicators set standards for A/R and provide a method for measuring the control an collection of A/R. What are the two KPIs used to monitor performance related to the production and submission of claims to third party payers and patients (self-pay)? (Pre-Test 1) Elapsed days from discharge to final bill and elapsed days from final bill to claim/bill submission. 3 MULTIPLE CHOICE OPTIONS