CPPM - Certified Professional Practice Manager: Q’s
And A’s
Revenue cycle process Right Ans - Appointment Scheduling
Registration
Charge Capture
Billing
Denial Management
AR follow-up
The total charges entered that have not been collected. Right Ans - AR
(accounts receivable)
Total AR (divided by)
Total Charges/# of days for charges Right Ans - Formula to identify days in
AR
Most common account types in a medical office. Right Ans - Income
Expenses
Assets
Liabilities
Equity
Cash-based accounting method Right Ans - Recognizes revenue only when
cash is collected and recognizes expenses only when cash is paid
Accrual-based accounting method Right Ans - Recognizes revenue when
earned and expenses when incurred
Gross revenue Right Ans - Total of charges entered for services prior to
contractual or other adjustments.
Net revenue collections Right Ans - total of collections that is actually
coming into the clinic after applying contractual adjustments or write-offs to
the gross revenue number.
Ratio Right Ans - Comparison of two financial figures
, accounts payable. Right Ans - All money that is owed to someone else
Accounts receivable Right Ans - All money that is owed to the practice
Activity Based costing (ABC) Right Ans - Accounting attempts to apply cost
to each activity providing an accurate measure of cost and benefit.
Balance Sheet Right Ans - A snapshot of a business's financial condition at a
specific point in time.
Income statment Right Ans - A summary of a practices profit or loss during
any given period, such as one month, one quarter, or one year.
Total collected $ for all Services
_______________________________________________
Number of Patient visits = RPV Right Ans - When reviewing payer
contracts, how is the
RPV (Revenue per Visit) Calculated?
RVU (Relative Value Units) Right Ans - composed of work value unit
(wRVU) + practice expense value unit (pRVU) + malpractice expense value
unit (mRVU)
Break even point Right Ans - the service revenue less total variable costs
that equals the fixed cost of providing the service (including annualized
allocation of investment cost)
Break even point Right Ans - Fixed cost +Annual equipment cost
__________________________________________________
Revenue per unit- Variable cost per unit
Sole Proprietorship Right Ans - Simplest and cheapest way to start a new
practice. Treated as a single entity for tax purposes
C corporations Right Ans - The most formal business coporations with the
abilities to offer stock with or without voting rights and to have as many
shareholders as desired but are taxed on on net income
And A’s
Revenue cycle process Right Ans - Appointment Scheduling
Registration
Charge Capture
Billing
Denial Management
AR follow-up
The total charges entered that have not been collected. Right Ans - AR
(accounts receivable)
Total AR (divided by)
Total Charges/# of days for charges Right Ans - Formula to identify days in
AR
Most common account types in a medical office. Right Ans - Income
Expenses
Assets
Liabilities
Equity
Cash-based accounting method Right Ans - Recognizes revenue only when
cash is collected and recognizes expenses only when cash is paid
Accrual-based accounting method Right Ans - Recognizes revenue when
earned and expenses when incurred
Gross revenue Right Ans - Total of charges entered for services prior to
contractual or other adjustments.
Net revenue collections Right Ans - total of collections that is actually
coming into the clinic after applying contractual adjustments or write-offs to
the gross revenue number.
Ratio Right Ans - Comparison of two financial figures
, accounts payable. Right Ans - All money that is owed to someone else
Accounts receivable Right Ans - All money that is owed to the practice
Activity Based costing (ABC) Right Ans - Accounting attempts to apply cost
to each activity providing an accurate measure of cost and benefit.
Balance Sheet Right Ans - A snapshot of a business's financial condition at a
specific point in time.
Income statment Right Ans - A summary of a practices profit or loss during
any given period, such as one month, one quarter, or one year.
Total collected $ for all Services
_______________________________________________
Number of Patient visits = RPV Right Ans - When reviewing payer
contracts, how is the
RPV (Revenue per Visit) Calculated?
RVU (Relative Value Units) Right Ans - composed of work value unit
(wRVU) + practice expense value unit (pRVU) + malpractice expense value
unit (mRVU)
Break even point Right Ans - the service revenue less total variable costs
that equals the fixed cost of providing the service (including annualized
allocation of investment cost)
Break even point Right Ans - Fixed cost +Annual equipment cost
__________________________________________________
Revenue per unit- Variable cost per unit
Sole Proprietorship Right Ans - Simplest and cheapest way to start a new
practice. Treated as a single entity for tax purposes
C corporations Right Ans - The most formal business coporations with the
abilities to offer stock with or without voting rights and to have as many
shareholders as desired but are taxed on on net income
