Certified Revenue Cycle Representative (CRCR) Practice Exam

How should a provider handle a late-charge credit that has been posted after an account has been billed?

1. Contact the patient for additional information

2. Delete the late-charge entry completely

3. Post a late-charge adjustment to the account

4. Ignore the late charge

The correct answer is: Post a late-charge adjustment to the account

Posting a late-charge adjustment to the account is the appropriate way to handle a late-charge credit that has been posted after an account has been billed. This approach maintains the integrity of the patient’s financial records and ensures that the adjustments are transparently documented. By posting a late-charge adjustment, the provider acknowledges the charge in a formal manner, allowing for accurate transaction history and ensuring that both the billing and accounts receivable processes reflect the correct amounts owed by the patient. Taking this action also aligns with best practices in revenue cycle management, ensuring that all financial transactions are accounted for and that any adjustments are documented properly to avoid confusion or discrepancies in the future. By effectively managing these late charges, the provider can uphold compliance standards and maintain a respectful and clear communication with patients regarding their financial responsibilities. In contrast, contacting the patient for additional information would not necessarily resolve the issue of the late charge and might lead to unnecessary complications. Deleting the late-charge entry completely could create discrepancies in the account and lead to a lack of accountability in the billing process. Ignoring the late charge is not advisable, as it can lead to inaccuracies in the revenue cycle and potentially impact the financial health of the practice.