HFMA SET 1 | Questions and Correct Answers | Latest Update 2024/2025

HFMA SET 1 | Questions and Correct Answers | Latest Update 2024/2025 Define Revenue Cycle - Answer -REVENUE CYCLE ----- is the series of events and services provided prior to, during, and after the course of treatment Departments that contribute to the Revenue Cycle. - Answer - Departments that contribute to the Revenue Cycle. 1. Access 2. Health information management/ Medical records 3. Case-management 4. Patient Care Services 5. Patient Financial Services What led the creation of revenue management services? - Answer -The emphasis on the revenue cycle has resulted in the need to organize itscomponents differently and created a new business unit known as revenue integrity or revenue management services. Benefit of Electronic transactions? - Answer -Electronic transactions."--- --- transactions are associated with revenue capture and collection activities. The implementation of electronic data interchange (EDI) allows actions previously conducted by telephone/ manual methods to be performed electronically ( improves wo