One of the Recent Technological Advances That Makes Verification of Patient

question 22

Multiple Choice

One of the recent technological advances that makes verification of patient insurance eligibility easier and faster is the:

• A) digital systems locater (DSL).
• B) interactive voice response (IVR).
• C) optical character recognition (OCR) scanner.
• D) American Standard Code for Information Interchange (ASCII).

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Definitions:

Open Market Operations

These are financial activities where central banks buy or sell government securities in the open market to control the money supply and influence interest rates.

Required Reserve Ratio

The fraction of deposits that a bank is mandated by regulations to hold in reserve and not loan out.

Excess Reserves

The amount of reserves that a bank holds beyond the required minimum, which can be loaned out to generate earnings.

Open Market Operations

A monetary policy tool used by central banks to control the money supply by buying or selling government securities in the open market.