Medicare
The year that Medicare became law?
1965
Money due to an organization
Accounts Receivable
Title 19 of the Social Security Act created Medicaid in this year
1965
The purpose of managed care has three critical parts
Access, Cost, and Quality
A PCP is
Primary Care Physician
The Medicare eligibility age
65
Money to be paid by an organization
Accounts Payble
Individuals who may not be able to pay for normal living expenses but not healthcare
Indigent
Name a type of Managed Care
PPO, HMO, or POS
Healthcare organizations use two major accounting methods
Financial and Managerial (cost)
Medicare Part A typically covers
Hospital and SNF Services
The goal of effective revenue cycle management
To reduce the time between services rendered and payment
Funding for Medicaid comes from
The Federal and State governments
The MOST restrictive Managed Care product
HMO
Healthcare organizations that CAN use profits to benefit shareholders
Medicare Part B is usually paid by
The patient or beneficiary through social security deduction
HFMA states this stage of revenue cycle management is inadequate
Pre-Care
This metric used to determine the financial eligibility for Medicaid
Federal Poverty Level
The LEAST restrictive Managed Care product
Traditional indemnity PPO
Non-Profit healthcare organizations must do what with excess revenues
Reinvest them back into the organization
This part of Medicare covers drug coverage
Name one Federal law that governs accounts receivable
The Fair Debt Collection Act
The Truth in Lending Act
The percentage of the federal poverty level for Medicaid
138%
This type of HMO employs physicians exclusively for enrollees
A Closed-Panel HMO
A form of payment for HMOs
Capitation