Third-Party Billing, Reimbursement, and Inventory Management Part 7

Question 1

When billing Medicare, the ____ codes are used

Answer 1

HCPCS

Question 2

When a medication is being administered, the time of service, which can be billed, is only the time the medication is going into the patient (being ____). This does not include the time the patient is physically at the office visit, the time it takes to prepare the medication, or the consultation, if applicable

Answer 2

infused

Question 3

If the time it takes for the medication to be infused is less than ____ minutes, it is considered an IVP and must be billed as such

Answer 3

15

Question 4

If the time goes 16 minutes or over, it can be billed for an ____ of infusion

Answer 4

hour of infusion

Question 5

There are also group purchasing organizations or GPOs, which is where organizations ____ with drug manufacturers on the members’ benefit

Answer 5

negotiate contracts

Question 6

Most items are ordered through a Just-in-Time approach. This allows for a minimum inventory amount to be kept, which reduces the amount of the business’s capital tied up in ____

Answer 6

medications