Certified Revenue Cycle Representative (CRCR) Practice Exam

What does the acronym 'MSP' stand for in healthcare?

1. Medicare Standards Program

2. Managed Service Provider

3. Medicare Secondary Payer

4. Medical Services Protocol

The correct answer is: Medicare Secondary Payer

In the context of healthcare, MSP stands for Medicare Secondary Payer. This term is crucial as it refers to a situation where Medicare does not have primary responsibility for paying medical bills. Instead, another payer, such as an employer group health plan or liability insurance, is responsible for covering healthcare costs first. Understanding the concept of Medicare Secondary Payer is important for effective revenue cycle management and billing practices. It ensures that claims are correctly processed and that the appropriate payer is billed initially, which can help avoid unnecessary delays or denials in payment. This involves thorough knowledge of Medicare guidelines, coordination of benefits, and proper documentation, which are essential skills for professionals in the healthcare revenue cycle. The other options provided, while they may sound plausible in various contexts within healthcare, do not accurately reflect the widely recognized terminology associated with the acronym MSP in this field.