Certified Revenue Cycle Representative (CRCR) Practice Exam

Which type of accounts are included in the accounts receivable inventory?

1. A) Charitable pledges

2. B) Accounts activated during pre-registration

3. C) Accounts coded but within suspense period

4. D) Accounts dismissed by financial aid

The correct answer is: A) Charitable pledges

Accounts receivable inventory refers to the outstanding money owed to a healthcare organization for services rendered, which includes various types of payment obligations. Charitable pledges are commitments made by individuals or organizations to donate money over a specified period. These pledges contribute to the organization's receivable inventory because they represent anticipated future cash inflows that the organization can count on for funding purposes. Recognizing these as part of accounts receivable is crucial for accurate financial forecasting and planning. In contrast, pre-registration accounts are actions taken to initiate the billing process but may not yet represent a financial obligation that can be collected. Accounts in suspense are those that have not yet been fully processed to determine their status, and therefore they don't yet contribute to the receivable inventory in a recognizable way. Accounts dismissed by financial aid are not deemed collectible anymore since they have been resolved through financial assistance, meaning they are not part of the receivables that the organization expects to collect. Each of these exclusions underscores the importance of identifying true outstanding obligations in accounting practices.