Which of the following is true about bookkeeping?
It must be 100 percent accurate.
Where are all patient charges and receipts recorded each day?
Day sheet
What term describes the transfer of information from one record to another (this might be an automated process, depending on the electronic system in place)?
posting
The person who records the financial transactions of the business is the:
bookkeeper
What is the term that reflects that the amount paid is less than the total due?
Debit balance
What is the term that reflects that the amount paid is greater than was due, or the account is being paid in advance of service provided?
Credit balance
In the past, which system was exclusively used to record financial transactions?
pegboard system
Which of the following lists the procedures performed in that medical office, with their respective codes?
Encounter form
Which of the following is a record of all charges or services rendered, any payments made by the patient or the insurance carrier, and any adjustments, included with the specific dates of these entries?
patient ledger
What is the term for an authorization by the provider to discount fees to another medical professional, such as a nurse, medical assistant, or other health care providers?
professional discount
When patients are hospitalized but do not have the means to pay for hospital expenses and do not qualify for any government program, many health care organizations will offer:
charity care.
Patient account numbers are also known as:
. medical record numbers
Which of the following comments is appropriate when a patient tells you they are unhappy about their medical costs?
Let me explain what each of the charges are for.
What is the first step in posting a payment to a patient's account?
Pull up the patient's account on the computerized program.
f it appears that the patient will need to pay a substantial sum out of pocket, the medical assistant should discuss with the patient the manner in which payments will be made, ___ patient care.
prior to receiving
hich of the following is true about collecting copayments?
Copayments should be collected prior to the visit.
According to CMS, the provider or supplier who routinely waives Medicare deductibles and co–payments is ___ the actual charge of that service or supply.
misrepresenting
Credit
a payment subtracted from existing balance,
Debit
a charge added to existing balance
Debit balance
occurs when the amount paid is less than the total due
Credit balance
occurs when the amount paid is greater than was due or the account is being paid in advance of service provided
Adjustment
credit entry made on an account to decrease a balance owed to the medical office
Payment
money received from the patient or insurance carrier for services rendered
Charges
fee for services rendered
Accountant
one who keeps, audits, and inspects the financial records of individuals or businesses
Accounts payable
the total amounts owed by the practice to suppliers and other service providers for regular business operating expenses
Account
record of all transactions made on an individual's financial record that lists debits, credits, and balance
Accounts receivable
all the outstanding accounts (amounts due to the office)