Health Record Documentation Is Influenced by Governmental Agencies Such as Medicare

question 32

True/False

Health record documentation is influenced by governmental agencies such as Medicare and Medicaid.

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Definitions:

Process Costing System

An accounting system used to evaluate the cost associated with a production process that continuously produces homogeneous products.

Raw Materials Inventory

The total cost of all parts and materials held in stock by a company that are intended for use in production.

Purchase

The act of acquiring goods or services, often in exchange for money.

Hybrid Costing Systems

Accounting methods that combine features of both job costing and process costing systems to handle unique costing needs.