Presenting Practice Site Financial Information To Providers

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| By ManDevPro

ManDevPro

Community Contributor

Quizzes Created: 4 | Total Attempts: 580

Questions: 7 | Attempts: 87 | Updated: Dec 5, 2023

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Questions and Answers

1.

Units of Service (Visits) are counted as unique patients seen per provider per date of service.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
The statement is true because units of service (visits) are counted as unique patients seen per provider per date of service. This means that each visit is considered as a separate patient, regardless of whether it is the same patient visiting multiple times on the same day. This method of counting ensures that each visit is accounted for and helps track the workload and productivity of each provider accurately.

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2.

Modifier Adjusted Work RVUs are the WRVUs utilized for physician compensation purposes.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
Modifier Adjusted Work RVUs are indeed the WRVUs that are used for physician compensation purposes. This means that when calculating a physician's compensation, the work RVUs are adjusted based on any modifiers that may be applicable to the services provided. Therefore, the statement is true.

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3.

Total Deductions include all Contractual Allowance Adjustments/Write Offs and Bad Debt Adjustments/Write Offs.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
The statement is true because total deductions include all contractual allowance adjustments/write offs and bad debt adjustments/write offs. This means that any adjustments or write offs made for contractual allowances or bad debts will be included in the total deductions.

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4.

Net Revenue is calculated by subtracting Total Deductions from Total Gross Revenue.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
Net revenue is the amount of revenue a company earns after deducting all the necessary expenses and deductions. To calculate net revenue, the total deductions are subtracted from the total gross revenue. This is done to account for any costs or expenses that need to be deducted from the overall revenue to determine the actual profit or net revenue. Therefore, the given statement is true as it correctly explains how net revenue is calculated.

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5.

The Revenue and Expense Statements can be found under the SMG/SPPI Combined button in Cognos under Delivered Cognos Reports.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
The given statement is true because the Revenue and Expense Statements can indeed be found under the SMG/SPPI Combined button in Cognos under Delivered Cognos Reports. This indicates that users can access these statements by navigating to the specified location in the Cognos system, making the statement accurate.

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6.

As Managers, we should be reviewing the SMG/SPPI Physician Practice Combined Rollup Revenue and Expense Statement with our Physicians on a monthly basis.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
Managers should review the SMG/SPPI Physician Practice Combined Rollup Revenue and Expense Statement with physicians on a monthly basis. This is important because it allows managers to track the financial performance of the physician practice, identify any areas of concern or improvement, and discuss strategies with physicians to optimize revenue and manage expenses effectively. Regular review of the statement promotes transparency, collaboration, and accountability between managers and physicians, ultimately leading to better financial outcomes for the practice.

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7.

The 2013 budgets can be found under the SMG Managers website.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
The statement is true because it states that the 2013 budgets can be found under the SMG Managers website. This implies that if someone were to visit the website, they would be able to access the 2013 budgets.

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Current Version
Dec 05, 2023

Quiz Edited by
ProProfs Editorial Team
Feb 25, 2013

Quiz Created by
ManDevPro

Presenting Practice Site Financial Information To Providers

Units of Service (Visits) are counted as unique patients seen per provider per date of service.

Modifier Adjusted Work RVUs are the WRVUs utilized for physician compensation purposes.

Total Deductions include all Contractual Allowance Adjustments/Write Offs and Bad Debt Adjustments/Write Offs.

Net Revenue is calculated by subtracting Total Deductions from Total Gross Revenue.

The Revenue and Expense Statements can be found under the SMG/SPPI Combined button in Cognos under Delivered Cognos Reports.

As Managers, we should be reviewing the SMG/SPPI Physician Practice Combined Rollup Revenue and Expense Statement with our Physicians on a monthly basis.

The 2013 budgets can be found under the SMG Managers website.