Question

To abide by the rules of any payors with whom we have contractual agreements

a) Ensures financial stability for hospitals
b) Is optional for healthcare providers
c) Is unrelated to billing procedures
d) Is not applicable to nonprofit hospitals

Answer 1

Abiding by payer contractual agreements is crucial for hospital financial stability and applies to all healthcare providers, including nonprofit hospitals.

Step-by-step explanation:

Abiding by the rules of any payors with whom healthcare providers have contractual agreements is essential for ensuring the financial stability for hospitals. This is not optional for healthcare providers, as it directly relates to their billing procedures and the legality of their operations, and it is applicable to nonprofit hospitals as well. Adherence to these agreements is crucial to avoid legal issues such as noncompliance, which could result in severe economic consequences and disrupt the healthcare system.