HFMA CRCR Test Review 2026 | Latest Update 2026 |
100% Correct Answers | Actual Exam Prep
1. What is the first confirmation that scheduling staff must obtain when a service
is requested?
Availability of the service provider
Patient eligibility for the requested service
Patient insurance coverage details
Patient's previous medical history
2. If a hospital fails to communicate costs effectively during the pre-service
stage, what potential impact could this have on the revenue cycle?
It would enhance patient loyalty and trust.
It would improve the hospital's cash flow.
It could lead to decreased patient satisfaction and increased billing
disputes.
It would have no impact on the revenue cycle.
3. What is a community needs assessment?
Implementing an evidence-based community health program.
Evaluating the health status and available resources of a community.
Lobbying for tax increases to support healthy community inititiaves.
Training nutrition educators about health problems in the community.
4. What is the definition of price in the context of healthcare services?
The amount charged for healthcare services.
, The reimbursement rate from insurance companies.
The estimated value of healthcare services.
The total cost of providing healthcare services.
5. Discuss the significance of patient inquiries about costs and services prior to
receiving healthcare.
Costs and services are not discussed until after treatment.
Patients should only inquire about treatment options.
Patient inquiries are irrelevant to the healthcare process.
Patient inquiries about costs and services are significant as they
help ensure transparency and prepare patients for financial
responsibilities.
6. If a hospital implements HFMA best practices for patient financial discussions,
what outcome might they expect in terms of patient satisfaction?
Decreased patient engagement
Higher rates of billing disputes
Lower patient retention rates
Increased patient satisfaction
7. The soft cost of a dissatisfied customer is
The cost of staff providing extra attention in trying to perform service
recovery
The customer passing on info about their negative experience to
potential patients or through social media channels
Lowered quality outcomes for the dissatisfied patient
, Potentially negative treatment outcomes leading to expanding length-
of-stay
8. What is determined during the pre-service stage using the patient's health
plan and benefits?
Insurance reimbursement rates
Estimated patient financial responsibility
Patient satisfaction scores
Total hospital charges
9. Describe the significance of calculating the estimated patient financial
responsibility in the pre-service stage of revenue cycle management.
It allows hospitals to determine their overall revenue for the year.
It is used to negotiate better rates with insurance companies.
Calculating the estimated patient financial responsibility helps in
preparing patients for their costs and enhances financial
transparency.
It helps in assessing the quality of care provided to patients.
10. Hospitals need which of the following information sets to assess a patient's
financial status:
Patient and guarantor's income, expenses and assets
Assets liquidity, Income, expenses, credit worthiness
Income, expenses, debt
Income, expenses and capacity to take on more debt
, 11. What is the potential consequence of failing to distinguish credit balances
from debit balances in accounts receivable?
Increased patient satisfaction
Enhanced compliance with policies
Improved billing practices
Inaccurate financial reporting
12. Why is it important for patients to be informed about costs and services
according to HFMA's best practices?
It allows hospitals to increase their revenue without transparency.
It reduces the need for patient follow-up.
It helps patients make informed decisions and enhances their
satisfaction with the healthcare experience.
It ensures that patients are aware of hospital policies only.
13. Describe the implications for new patients who do not have an MPI number
during the revenue cycle management process.
New patients can bypass financial discussions if they lack an MPI
number.
New patients without an MPI number may face delays in
registration and billing processes.
New patients are exempt from compliance with financial assistance
policies.
New patients will automatically receive an MPI number upon arrival.
14. A patient's financial information includes all of the following EXCEPT
100% Correct Answers | Actual Exam Prep
1. What is the first confirmation that scheduling staff must obtain when a service
is requested?
Availability of the service provider
Patient eligibility for the requested service
Patient insurance coverage details
Patient's previous medical history
2. If a hospital fails to communicate costs effectively during the pre-service
stage, what potential impact could this have on the revenue cycle?
It would enhance patient loyalty and trust.
It would improve the hospital's cash flow.
It could lead to decreased patient satisfaction and increased billing
disputes.
It would have no impact on the revenue cycle.
3. What is a community needs assessment?
Implementing an evidence-based community health program.
Evaluating the health status and available resources of a community.
Lobbying for tax increases to support healthy community inititiaves.
Training nutrition educators about health problems in the community.
4. What is the definition of price in the context of healthcare services?
The amount charged for healthcare services.
, The reimbursement rate from insurance companies.
The estimated value of healthcare services.
The total cost of providing healthcare services.
5. Discuss the significance of patient inquiries about costs and services prior to
receiving healthcare.
Costs and services are not discussed until after treatment.
Patients should only inquire about treatment options.
Patient inquiries are irrelevant to the healthcare process.
Patient inquiries about costs and services are significant as they
help ensure transparency and prepare patients for financial
responsibilities.
6. If a hospital implements HFMA best practices for patient financial discussions,
what outcome might they expect in terms of patient satisfaction?
Decreased patient engagement
Higher rates of billing disputes
Lower patient retention rates
Increased patient satisfaction
7. The soft cost of a dissatisfied customer is
The cost of staff providing extra attention in trying to perform service
recovery
The customer passing on info about their negative experience to
potential patients or through social media channels
Lowered quality outcomes for the dissatisfied patient
, Potentially negative treatment outcomes leading to expanding length-
of-stay
8. What is determined during the pre-service stage using the patient's health
plan and benefits?
Insurance reimbursement rates
Estimated patient financial responsibility
Patient satisfaction scores
Total hospital charges
9. Describe the significance of calculating the estimated patient financial
responsibility in the pre-service stage of revenue cycle management.
It allows hospitals to determine their overall revenue for the year.
It is used to negotiate better rates with insurance companies.
Calculating the estimated patient financial responsibility helps in
preparing patients for their costs and enhances financial
transparency.
It helps in assessing the quality of care provided to patients.
10. Hospitals need which of the following information sets to assess a patient's
financial status:
Patient and guarantor's income, expenses and assets
Assets liquidity, Income, expenses, credit worthiness
Income, expenses, debt
Income, expenses and capacity to take on more debt
, 11. What is the potential consequence of failing to distinguish credit balances
from debit balances in accounts receivable?
Increased patient satisfaction
Enhanced compliance with policies
Improved billing practices
Inaccurate financial reporting
12. Why is it important for patients to be informed about costs and services
according to HFMA's best practices?
It allows hospitals to increase their revenue without transparency.
It reduces the need for patient follow-up.
It helps patients make informed decisions and enhances their
satisfaction with the healthcare experience.
It ensures that patients are aware of hospital policies only.
13. Describe the implications for new patients who do not have an MPI number
during the revenue cycle management process.
New patients can bypass financial discussions if they lack an MPI
number.
New patients without an MPI number may face delays in
registration and billing processes.
New patients are exempt from compliance with financial assistance
policies.
New patients will automatically receive an MPI number upon arrival.
14. A patient's financial information includes all of the following EXCEPT
