The Value of a Coding System with the Capability to Easily

question 55

Short Answer

The value of a coding system with the capability to easily expand and add new codes is that the codes:
A)will reflect advances in medicine and technology.
B)will allow for billing higher charges.
C)can be done by employees with less training.
D)have more flexibility for physicians who want to describe conditions differently.

• A)will reflect advances in medicine and technology.
• B)will allow for billing higher charges.
• C)can be done by employees with less training.
• D)have more flexibility for physicians who want to describe conditions differently.

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Definitions:

Working Capital

The balance sheet accounts associated with day-to-day operating activities. Gross working capital is generally defined as current assets and net working capital as current assets minus current liabilities.

Accounts Receivable

Money owed to a company by its customers for goods or services already delivered but not yet paid for.

Inventory

Represents the goods or materials a business holds for the purpose of resale or production.

Interest Expense

The cost incurred by an entity for borrowed funds, which can include the cost of bonds, loans, or lines of credit.