The CMS-1500 Claim Form Used by Physician Offices Was Developed

question 10

Short Answer

The CMS-1500 claim form used by physician offices was developed by:
A)the American Medical Association (AMA).
B)the Blue Cross/Blue Shield Association.
C)the Centers for Medicare and Medicaid Services (CMS).
D)representatives from all insurance carriers.

• A)the American Medical Association (AMA).
• B)the Blue Cross/Blue Shield Association.
• C)the Centers for Medicare and Medicaid Services (CMS).
• D)representatives from all insurance carriers.

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Definitions:

Fixed Costs

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance premiums.

Variable Costs

Expenses that change in proportion to the activity or production level, such as raw materials, labor costs, and energy usage, in contrast to fixed costs which remain constant regardless of output.

Variable Costs

Costs that vary directly with the level of output or production volume, such as raw materials and labor expenses.

Total Revenue

The total income generated by a company from its sales of goods or services before any costs or expenses are deducted.