ERGO Technology & Services Interview Questions and Answers

A deposit is a sum of money placed in a bank account or given as security for a rental or purchase.

• A deposit is a financial transaction where money is placed into a bank account.

• It can also refer to a sum of money given as security for a rental property or purchase.

• Deposits can be made in cash, check, or electronically.

• Deposits are often required when opening a new bank account or renting an apartment.

• Deposits can earn interest over time, depending on the type of account.

Capitation is a payment arrangement in healthcare where a provider is paid a fixed amount per patient regardless of the services provided.

• Capitation involves a fixed payment per patient per period of time, regardless of the actual services provided.

• Providers are incentivized to keep costs low and quality high to maximize profits.

• It shifts the financial risk from the payer to the provider.

• Examples include HMOs and managed care organizations that use capitation to control costs...read more

Medical billing is the process of submitting and following up on claims with health insurance companies in order to receive payment for services provided by a healthcare provider.

• Involves submitting claims to insurance companies for services rendered

• Ensures accurate coding of procedures and diagnoses

• Follows up on claims to ensure timely payment

• Handles patient billing inquiries and disputes

• Plays a crucial role in revenue cycle management for healthcare providers

RCM work process refers to the steps involved in revenue cycle management, from patient registration to claim submission and payment collection.

• Patient registration and insurance verification

• Coding and charge capture

• Claim submission to insurance companies

• Payment posting and denial management

• Follow-up on unpaid claims and patient balances

• Reporting and analysis for process improvement

Medicare and Medicaid are government-sponsored healthcare programs in the United States.

• Medicare is a federal health insurance program primarily for people aged 65 and older, as well as certain younger individuals with disabilities.

• Medicaid is a joint federal and state program that helps with healthcare costs for people with limited income and resources.

• Medicare is divided into different parts such as Part A (hospital insurance) and Part B (medical insurance), while Medicaid ...read more

A modifier is a code used in medical billing to indicate that a service or procedure has been altered in some way.

• Modifiers are two-digit codes added to a CPT or HCPCS code to provide additional information about the service provided.

• Modifiers can affect reimbursement rates, indicate that multiple procedures were performed, or specify the location or time of the service.

• For example, modifier 50 is used to indicate a bilateral procedure, while modifier 25 is used to indicate a...read more