package deal of HFMA Correctly Answered.

Through what document does a hospital establish compliance standards? -correct answer Code of Conduct What is the purpose of the OIG work plan? -correct answer Communicate issues that will be reviewed during the year for compliance with Medicare regulations If a Medicare patient is admitted ...

provider - general - correct answer.A party rendering medical care such as a physician or hopsital facilities provider - correct answer.Includes hospitals, skilled nursing facilities, assisted living facilities, home health agencies, and ambulatory centers professional provider - correct des p...

What has changed for Healthcare Analytics? - correct answer 1 - Increased computing power and storage, decrease in cost; 2 - increased abundance of data in healthcare; 3 - increase in individuals having strong competencies Big Data - correct answer Refers to the Growth in available data, mass...

Describe the paper and electronic claims flow process. - correct answer 1. Electronic Claim Submission= EDI claims forwarded to either directly or via EDI clearing house/ vendor. 2. Claims Verification= Clearinghouse specifications and insurance company requirements used to validate transmitted ...

Through what document does a hospital establish compliance standards? - code of conduct What is the purpose OIG work plant? - Identify Acceptable compliance programs in various provider setting If a Medicare patient is admitted on Friday, what services fall within the three-day DRG window rule...

Revenue Cycle correct answer - All of the major processing steps required to process a patient account from the request for service through closing the account with a zero balance and purging it from the system. Pre-Service correct answer - 1. Patient is scheduled and registered for service 2. Pa...

Purpose of Contracts - correct answer.Purpose Contracts will be used to define terms between two or more parties for the provision of a service or product. In health care, contracts are used for: Health plan or payer agreements. Construction projects. Collection services. Maintenance on equ...

Strategic Planning Process includes: -correct answer Strategic Planning Process includes: Identifying the organization's current position, including its mission, vision, and long-term goals. Conducting an internal and external assessment and comparing the organization's condition against tho...

Operating Margin correct answer - (Total Operating Revenue - Operating Expenses) / Total Operating Revenue Return on Total Assets correct answer - Net Income / Total Assets Return on Equity correct answer - Net Income / Net Assets Current Ratio correct answer - Current Assets / Current Liab...

Steps used to control costs of managed care include:correct answer - Bundled codes Capitation Payer and Provider to agree on reasonable payment DRG is used to classifycorrect answer - Inpatient admissions for the purpose of reimbursing hospitals for each case in a given category w/a negotiat...

Purpose of Financial Reports - correct answer Purpose of Financial Reports The purpose of financial reports is to allow others to make determinations about the financial worthiness of an organization 3 key contributors of GAAP - correct answerThe SEC grants to FASB the authority to create GAA...

Learning Objective 1/2: Discuss the components of the 3 HFMA revenue cycle initiatives collectively called Healthcare Dollars & Sense. - correct answer n/a Learning Objective 2/2: Summarize the best practices for each of the 3 Healthcare Dollars & Sense Initiatives. - correct answer n/a Health...

management functions - correct answer the key functions of a manager, including planning, organizing, staffing, directing, and controlling management connective processes - correct answer management functions that connect elements of the healthcare organization, including communicating, coordinat...

Which option is NOT a main HFMA Healthcare Dollars and Sense revenue cycle initiative? A) Patient Financial Communications B) Medical Account Resolution C) Price Transparency D) Process Compliance - correct answer D) Process Compliance Approximately what ______% of billing information is obta...