All of the Following Are Advantages Associated with Using QBO

question 20

Multiple Choice

All of the following are advantages associated with using QBO Vendors List except:

• A)Allows the company to store information regarding its vendors including: name,address,and contact information.
• B)Allows a company to assess the quality of the material received from each vendor.
• C)It is a time-saving feature.
• D)QBO automatically transfers the vendor information to the appropriate form i.e.checks.

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Definitions:

CMS-1450

A form used in the healthcare industry for hospital providers to bill Medicare and Medicaid programs and some private insurers.

Electronic Data Interchange (EDI) Transactions

The electronic exchange of business information in a standardized format, often used in healthcare for billing and record-keeping.

Paid Sooner

A situation where payments or financial obligations are settled or fulfilled ahead of the original schedule or due date.

Explanation of Benefits (EOB)

A document provided by insurance companies to insured individuals explaining what medical treatments and services were paid for on their behalf.