Certified Revenue Cycle Representative (CRCR) Practice Exam

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What does FERA stand for in a healthcare compliance context?

Federal Emergency Recovery Act
Fraud Enforcement and Recovery Act
Financial Entity Resolution Act
Fundamental Equality Resource Act

The correct answer is: Fraud Enforcement and Recovery Act

In the healthcare compliance context, FERA stands for the Fraud Enforcement and Recovery Act. This act, enacted in 2009, was designed to enhance the government's ability to combat healthcare fraud. It provides law enforcement agencies with new tools to investigate and prosecute Medicaid and Medicare fraud, improving recovery efforts for funds lost due to fraudulent activities. By strengthening penalties for fraud, FERA aims to deter dishonest practices in the healthcare industry, thereby protecting public funds and ensuring that resources are allocated appropriately to those in need of healthcare services. The other options do not accurately represent the focus of FERA within healthcare compliance. For instance, the Federal Emergency Recovery Act relates more to disaster recovery and economic stimulus rather than fraud prevention. The Financial Entity Resolution Act is not connected to healthcare compliance or fraud. Lastly, the Fundamental Equality Resource Act does not exist in relation to healthcare legislation, making FERA the only relevant term among the choices provided.