CMM FINAL EXAM 2024 WITH 100% CORRECT ANSWERS

CMM FINAL EXAM 2024 WITH 100% CORRECT ANSWERSSteps of Revenue Cycle - correct answer Patient Registration & Check in/ Clinical encounter/ Accurate Coding and Billing/ Claims Generation and Transmittal/ Processing Payments/ Preparation and Transmittal of Patient Statements/ Collections and Finalizing Payments/ Denials, Appeals & Refunds Coding analysis - correct answer involves analyzing the financial impact of proper vs. improper coding procedures in practice What type of codes reflect the accurate level of medical necessity that justfies each CPT and HCPC level II code? - correct answer ICD-10 Why is it important to have accurate coding - correct answer minimizes denials and rejections while ensuring the practice is reimbursed the full amount All electronic opportunities to verfy active patient insurance and benefits should be utilized ___-_____ hours before visit - correct answer 24-48 hours If the patient does not have insurance, has a lapse in coverage, or cannot pay service, protect the practice by having the patient sign a _____ _____ Notice or Notice of Non-coverage prior to being seen - correct answer Advance Beneficiary Notice Electronic Medical Record and Practice Management Systems that are certified by CMS and the Office of the National Coordinator for Health Information Technology (ONC) require to have built in _________ Verification Systems. - correct answer Insurance Verification Systems (IVS). NOTE: Once activated they will automatically ping the insurance company IVS will come back to the Practice management system (PMS) will highlight the appointment as Green, Yellow, or Red. What does each color mean? - correct answer Green - Verified and Approved Yellow - There may be a problem with this insurance