Certified Inpatient Coding (CIC) Practice Exam

Who should be involved in annual chargemaster reviews?

1. HIM/Coding only

2. Finance only

3. I and II only

4. HIM/Coding, Finance, Pharmacy, and Lab/Radiology

The correct answer is: HIM/Coding, Finance, Pharmacy, and Lab/Radiology

The involvement of multiple departments such as HIM/Coding, Finance, Pharmacy, and Lab/Radiology in annual chargemaster reviews is crucial for several reasons. Each of these departments brings a unique perspective and expertise that collectively contributes to accurate and comprehensive chargemaster maintenance. HIM/Coding is essential because they ensure that the codes used for billing and reimbursement are up-to-date with the latest coding guidelines and regulations. Their knowledge of coding practices helps ensure compliance and accuracy in the billing process. The Finance department plays a critical role as they have insights into the hospital’s revenue cycle, pricing strategies, and financial implications of the chargemaster entries. Their input ensures that the prices reflect the cost of services and align with the financial goals of the institution. Additionally, involving Pharmacy is vital since medications are a significant part of hospital billing. Having pharmacy representatives ensures that the chargemaster accurately reflects medication costs and any updates to drug pricing or formulary changes. Inclusion of Lab/Radiology departments is also important as they manage charges related to diagnostic tests and imaging services. Their participation guarantees that the services offered are correctly priced and that any new tests or services are appropriately reflected in the chargemaster. By bringing together these various departments, a thorough review process