Wellspring Health and United Coverage Are Two Health Insurance Companies

question 73

Multiple Choice

Wellspring Health and United Coverage are two health insurance companies that have joined forces with one another to lobby against a new regulation that will affect their ability to deny claims. This action is referred to as

• A)contraction.
• B)coalition.
• C)cooptation.
• D)domain selection.
• E)benchmarking.

Grasp the treatment of freight costs and their implications on seller's and buyer's accounting records.

Understand how sales returns, allowances, and discounts are accounted for and their impact on financial statements.

Differentiate between various incentive methods offered to customers to optimize accounts receivable management.

Understand the ethical considerations and guidelines for medical coding.

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Definitions:

Opportunity Costs

The financial loss associated with dismissing the next favorable option when deciding.

Receivables Period

The receivables period is the average amount of time it takes for a company to receive payments owed by its customers for goods or services sold on credit.

Payables Period

The length of time a company takes to pay its invoices to suppliers, reflecting its payment policy's efficiency.

Accounts Receivable Balance

The sum total of debts customers have towards a company for delivered goods or services which have not been paid for yet.