Certified Revenue Cycle Representative (CRCR) Practice Exam

Which of the following is NOT a step in safeguarding collections?

1. Placing collections in a lock-box for posting

2. Posting the payment to the patient's account

3. Completing balance activities

4. Issuing receipts for all transactions

The correct answer is: Issuing receipts for all transactions

The process of safeguarding collections involves measures designed to protect the organization's revenue and ensure that all financial transactions are accurately recorded and documented. Issuing receipts for all transactions is a crucial part of this process, as it provides a record of the payment made by the patient and serves as a confirmation of the transaction. This practice enhances transparency, prevents disputes, and is a common standard in financial transactions to assure both parties of the validity of the amount paid. Therefore, issuing receipts is indeed a significant step in safeguarding collections, making the option that suggests it is not a part of this process incorrect. The other options related to lock-boxes, posting payments, and completing balance activities are also integral steps in managing collections effectively, further emphasizing why issuing receipts cannot be excluded from the safeguarding process.