Wgu C428 Exam Questions And Answers| Already Passed |2024 Latest Update

Payer {Ans: An organization that negotiates or sets rates for provider services, collects revenue through premium payments or tax dollars, processes provider claims for service, and pays provider claims using collected premium or tax revenues}Budgeting {Ans: A budget expresses an organization's plans in financial terms}Business Intelligence {Ans: _________ ______________ is a process by which data available in the organization is analyzed and converted into information usable by decision-makers.}Covered benefit {Ans: The services for which the insurer will pay are usually referred to as a covered benefit.}Days in inventory {Ans: Hospitals track supply inventory levels via the days in the inventory ratio Formula: Inventory divided by (Average daily supply expense)}Double Entry System {Ans: In double entry bookkeeping, each accounting transaction has two sides that are equal or in balance.}Lessee; lessor {Ans: The ________ is the entity that acquires an asset for use over a specified period of time as defined in a lease agreement with a lessor who owns and rents the asset to the __________.}Net revenue {Ans: The gross charges for healthcare services at list prices, less contractual adjustments, discounts, bad debt and charity, is referred to as patient service net revenue.