Medicare's Fee Schedule Is Based on a System Whereby Each

question 86

Multiple Choice

Medicare's fee schedule is based on a system whereby each payment value is found within a range of payments known as:

• A) OPPS.
• B) RBRVS.
• C) fee-for-service.
• D) usual, customary, and reasonable.

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Definitions:

Local Taxes

Taxes imposed by local governments, such as cities or counties, which can include property taxes, sales taxes, and income taxes.

W-2

The form that an employer must send to an employee and the IRS at the end of the year, which reports the employee's annual wages and taxes withheld.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period of time, resulting in net profit or loss.

Tax Bracket

Where each line of the tax schedule has an increasing percent based on increasing income.