HIPAA Has Directed CMS to Adopt Uniform Standards for Coding

question 39

True/False

HIPAA has directed CMS to adopt uniform standards for coding systems to be used for reporting all healthcare transactions,thus eliminating Level II codes.

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Definitions:

Equity Method

An accounting technique used by a company to record its investment in another company when it has significant influence but not full control.

Consolidated Financial Statements

Financial statements that present the assets, liabilities, equity, income, expenses, and cash flows of a parent company and its subsidiaries as one single entity.

Consolidated Sales

The total sales of a parent company and its subsidiaries, after eliminating intercompany sales, presented as a single sales figure for the entire company group.