DRGs (Diagnostic-Related Groups) Classify Patients by Diagnosis or Surgical Procedure

question 11

True/False

DRGs (diagnostic-related groups) classify patients by diagnosis or surgical procedure into major diagnostic categories based on the premise that treatment of similar medical diagnoses will generate similar costs.

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Definitions:

Income Statement

A financial document that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, and net income or loss.

Financial Record

Documents that capture all the financial transactions of an individual or an organization, serving as a historical account of financial health and activity.

Statement of Cash Flows

A financial document that shows how changes in balance sheet accounts and income affect cash and cash equivalents.

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time.