If the Workers' Compensation Insurance Requires Preauthorization for Certain Services

question 34

True/False

If the workers' compensation insurance requires preauthorization for certain services, the preauthorization must be obtained before services are rendered; this does NOT apply if the services were provided in an emergency situation.

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Definitions:

Personnel Costs

Expenses related to employees, including wages, salaries, benefits, payroll taxes, and training costs, which are a major part of operating expenses for many businesses.

Information Technology

The study and use of systems for storing, retrieving, and sending information, often involving computers and telecommunications.

Cost Reconciliation Report

A document summarizing the differences between standard costs and actual costs of production.

Work In Process Inventory

An accounting term referring to the total cost of unfinished goods in production.