Final answer:
Revenue codes are used to classify hospital categories of service based on their revenue cost center.
Step-by-step explanation:
The statement is: True
Revenue codes are used to classify hospital categories of service based on their revenue cost center. These codes help in identifying and tracking the revenue generated by each department within a hospital. By using revenue codes, hospitals can have a better understanding of their financial performance and make informed decisions regarding cost management and revenue generation.
For example, revenue codes can be used to distinguish between different types of services provided by a hospital, such as inpatient care, outpatient procedures, diagnostic tests, or surgical services. Each category is assigned a unique revenue code that reflects the cost center and helps in the accounting and billing process.