When Using ICD-10-CM/PCS,outpatient Coders Will Be Using ICD-10-PCS Instead of CPT

question 12

True/False

When using ICD-10-CM/PCS,outpatient coders will be using ICD-10-PCS instead of CPT.

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Definitions:

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they do actually pay.

Total Costs

refer to the sum of all the expenses involved in producing a good or service, including both fixed and variable costs.

Profit Maximizes

The process by which a company establishes the price and volume of output that leads to the maximum profit.

Deadweight Loss

The reduction in total surplus that results from a market distortion, such as a tax or subsidy, signaling inefficiencies in allocation of resources.