BUSI 323 Quiz Billing and Coding

BUSI 323 Quiz: Billing and Coding

1. True or False? Governmental healthcare organizations are able to raise funds through equity investments.
2. True or False? The earnings of an investor-owned corporation can be subject to double taxation.
3. True or False? One of the advantages of a nonprofit organization compared with an investor-owned company is that the investor- owned company is subject to federal income taxes.
4. True or False? Since most hospitals are not-for-profit, they are not generally business oriented.
5. True or False? Claims editing is initiated once the claim has been submitted to the payer for payment.
6. True or False? Data in the medical record is the primary source for documenting the provision of services.
7. True or False? Medicare uses resource utilization groups III as its basis for reimbursement to home health agencies.
8. True or False? A hospital that is caring for a Medicare patient on an inpatient basis generally can increase its reimbursement by providing additional services.
9. True or False? Some benefits under Medicare Part A include hospital stays, skilled nursing care, and home health care.
10. True or False? All outpatient procedures have an assigned ambulatory payment classification code.
11. What type of firm is subject to reporting requirements and regulation by the Securities and Exchange Commission?
12. A department manager most often uses his or her hospital’s financial information for which of the following uses?
13. ICD-10-PCS codes are used to report which of the following?
14. The ICD-10-PCS code set has expanded to always include how many characters compared to the ICD-9 procedure codes, which could be three to four digits long with a decimal point placed after the second digit?
15. Which of the following is typically provided free to all beneficiaries if they have 40 or more covered quarters of Medicare employment?
16. What are primary uses of financial information?
17. Is profit maximization the same thing as shareholder wealth maximization?
18. What is the difference in the financial management responsibilities of the controller and treasurer?
19. What are the objectives of not-for-profit firms?
20. What are the primary responsibilities of the financial manager?
21. What are the three primary forms of legal business organization? What are some of the advantages and disadvantages of each form?
22. What is charge explosion?
23. What are the six stages of the revenue cycle?
24. What is meant by the “revenue cycle”?
25. What is the registration process, including the activities that comprise it?
26. What are the six elements that should be present, at a minimum, in all charge masters?
27. What are the two types of forms used for health services billing?
28. What is the main difference between the fee-for-service and capitation reimbursement methods?
29. What is the primary distinction between prospective payment and retrospective payment?