Mid term answers - Fundamentals of Finance plays a very...

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Fundamentals of Finance plays a very important role in the present market driven world. Starting from the process of production to distribution, the entrepreneur as well as the company needs finance. The business enterprises as well as firms need finance to meet all of their short term, medium term and long term needs. The long-term financial need is generally to make investment on the fixed assets such as plants, machines and buildings, the short term financial needs are generally for working capital management while the medium term financial needs generally for a period of 1 year to 5 years. http://www.wisegeek.com/what-are-the-fundamentals-of-finance.htm Finance and the Regulatory Components Financial regulation is a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions and guidelines, aiming to maintain the integrity of the financial system. This may be handled by either a government or non-government organization. Financial regulation has also influenced the structure of banking sectors, by decreasing borrowing costs and increasing the variety of financial products available. Reimbursement and Payment Determination Understanding physician reimbursement is critically important to the sustained health of any physician's practice. Reimbursement involves more than just what you get paid; it is a long, and often convoluted, process that starts when a patient first contacts your office. In order to appropriately maximize your reimbursement, it is imperative that you know the basics. This includes correct coding. The key to begin to understand this aspect of the business of medicine is to understand the basics of Medicare. While private payers vary in their reimbursement rates and policies, most are tied in some form to the Medicare system. Physician reimbursement from Medicare is a three-step process: 1) appropriate coding of the service provided by utilizing current procedural terminology (CPT ® ); 2) appropriate coding of the diagnosis using ICD-9 code; and 3) the Centers for Medicare and Medicaid Services (CMS) determination of the appropriate fee based on the resources-based relative value scale (RBRVS). CPT ® is a proprietary product of the American Medical Association (AMA). CPT ® is a uniform coding system that was developed in conjunction between physicians and the Health Care Financing Administration (HCFA), and was first published by the AMA in 1966. The initial
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