FREE CHAA Financial Processes Questions and Answers
What is the primary purpose of insurance verification?
Correct!
Wrong!
Insurance verification ensures that the patient’s coverage is active and the service is eligible for reimbursement.
What is a deductible?
Correct!
Wrong!
A deductible is the set amount the patient is responsible for paying before insurance contributes to costs.
What document informs a patient of their financial obligations before services are rendered?
Correct!
Wrong!
This form outlines the patient's payment responsibilities, including deductibles, co-pays, and other charges.
What does the term “co-insurance” refer to?
Correct!
Wrong!
Co-insurance is typically expressed as a percentage, such as 20%, that the patient pays after the deductible is met.
What is a key responsibility of a financial counselor in healthcare access?
Correct!
Wrong!
Financial counselors help patients navigate costs, payment plans, and financial assistance options.