Last Year, a Practice's Returned Claims Were 8% of Total

question 23

Multiple Choice

Last year, a practice's returned claims were 8% of total submissions (600,000 claims) . The accuracy standards require 94.0% accuracy and you hope to see this standard applied enterprise wide for all coding. How many returned claims are allowed with this standard?

• A) 564,000 claims
• B) 520,000 claims
• C) 36,000 claims
• D) 80,000 claims

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Definitions:

Permanent/Temporary

Classification of accounts where permanent accounts are balance sheet items that carry over into the next fiscal year, and temporary accounts are income statement items that are closed at year-end.

Copyright Protection

Legal right granted to the creator of original works of authorship, including literary, dramatic, musical, and certain other intellectual works, to control and profit from their use for a certain period.

Normal Balance

The side (debit or credit) of an account that is expected to have a positive balance, determining the increase or decrease of an account.

Financial Statement

Reports that detail a company's financial activities over a specific period, crucial for investors, management, and regulators.