What Is Financial Integration

question 16

Multiple Choice

What is financial integration?

• A)Using all assets and liabilities,all cash flows,all household activities,and all future plans to arrive at decisions
• B)Including all current and future resources and information in decision making
• C)Making one decision at a time based strictly on the merits of that item
• D)Both a and b
• E)Both b and c

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Definitions:

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.

Patient

An individual who is receiving or registered to receive medical treatment.