CRCR Questions and Answers with Approved Solutions

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CRCR Questions and Answers with Approved Solutions 835 Record ✔✔A standard electronic message between a health plan and provider sending remittance data on a claim to the provider. 837 Record ... ✔✔A standard electronic message between a provider and health plan sending data on a claim to the health plan. AAR ✔✔After-hours activity report ABN ✔✔Advanced Beneficiary Notice ACC ✔✔ambulatory care center Access ✔✔The ability to receive hospital, physician or other medical services without regard to an individuals ability to pay. Accountable Care Organization (ACO) ✔✔A coordinated group of healthcare providers (including physicians, hospitals, and other types of providers) organized to improve quality and lower the cost of care to a defined group of patients. Accounting Identity ✔✔Also known as the accounting equation; assets = liabilities + equity. Accounts Payable ✔✔A current liability where funds are owed to suppliers. Accounts Payable Distribution ✔✔An account computer system report that details the amounts paid to vendors by date, purchase order, and expense classification. Accounts receivable (A/R) ✔✔Money owed to an organization for goods or services furnished. A/R Collection Period ✔✔Number of days in the accounting period divided by accounts receivable turnover. This ratio tells you the average time it takes to collect amounts due. A/R Turnover ✔✔Services rendered on credit during the period divided by the A/R balance. This ratio tells you how many times you collect your AR in a given cycle. Accounts Receivable Aging ✔✔A report that summarizes accounts receivable from different sources (such as Medicare or commercial insurance) by thirty day increments. Accreditation ✔✔Formal process by which an agency or organization evaluates and recognizes a program as meeting certain predetermined criteria or standards. A formal process for certifying that providers and health plans meet predetermined standards. Accredited Standards Committee X12 (ASC X12) ✔✔A committee of the American National Standards Institute (ANSI) responsible for the development and maintenance of electronic data interchange (EDI) standards for many industries. The ASC 'X12N' is the subcommittee of ASC X12 responsible for the EDI health insurance administrative transactions such as 837 Institutional Health Care Claim and 835 Professional Health Care Claim forms Accrual ✔✔An expense or a revenue that occurs before the business pays or receives cash. An accrual is the opposite of a deferral. Accrual Basis Accounting ✔✔The method of accounting that recognizes revenue when it is earned and matches expenses to the revenues they helped produce Accrued Payroll and Benefits ✔✔An estimate of salaries and associated benefit costs (such as payroll tax matching) earned by employees but not yet paid by the employer. Accumilated Depreciation ✔✔A balance sheet account where the total amount of depreciation recognized as expense over time is compiled. ACS ✔✔Ambulatory Care Services Activity Based Costing ✔✔A technique to assign product costs based on links between activities that drive costs and the production of specific products. acuity ✔✔A measure of the seve [Show More]

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