Accounting

A) A Patient B) An insurance Carrier C) A collection agency D) all of the above

From whom might a medical office receive income?

Once per month

How often should patients receive a billing statement?

Daily

Ideally, how often should money received by the office be deposited?

At the time of service

Ideally, when should patient payments be received?

A) True B) False

Patient payment information entered on the daysheet must also be posted on the patient ledger

A) True B) False

Patients will receive a monthly bill from the medical practice even after the account has been turned over to a third-party collection agency

a) True B) False

Then ending balance on the bank statement will always be the same as the current balance in the check ledger

A list of spec9ified fees a physician charges for services

What is a fee schedule?

Accounting Transaction

What is an event that the financial position of a company and can be reliably recorded?

Call to inform the patient

What is the first thing an assistant should do after receiving a patient overpayment?

An Invoice

What is the name of a patient bill that records services and changes for a specific time period?

To Protect the Privacy of patient information

What is the purpose of the HIPPA Privacy Rule?

Accounts receivable

What is the term for money owed to a company or office that has not yet been received?

Make sure the patient's identification matches the information on the check

What must assistants do before accepting a check from a new patient?

It requires physicians to disclose interest charges if any are charged

What purpose does the Truth in Lending Act serve?

Void the check and file it with cancelled checks

What should be done if a mistake is made while filling out a check?

Income

When a patient makes a payment, what kind of accenting transaction is this for the medical office?

Evert time the patient makes a payment in the office

When should a receipt be issued to a patient?

Non-sufficient funds

When stamped on a check, what does NSF stand for?

A) True B) False

A check stub, or register, should be filled out every time a check is written

A) True B) False

Cash and checks received from patients as payment should be kept in the same place

Professional courtesy

If a physician treats a fellow health care worker and does not collect the remaining fee after that worker's insurance contribution is received, this is what kind of adjustment?

a) True B) False

If an office uses a computerized bookkeeping system, understanding manual bookkeeping is unnecessary

A) True B) False

In an office with a computerized practice-management system, patient invoices still must e written out by hand

the medical office assistant

In the medical office, who is responsible for helping patients understand their invoice?

A) True B) False

It is acceptable to sent personal information to patients by e-mail

A) True B) False

It is okay to complete a check in pencil as long as it is dark enough to read.

A deposit

To place money into a banc account is to make ______

A fellow physician

To which of the following patients might a physician extend professional courtesy?

Respectful and understanding

Which of the following attitudes is most acceptable for an assistant to have when discussing finances with a patient?

A standardized form to request an order from a vendor

Which of the following best describes a purchase order?

A fee discount for health care workers

Which of the following best describes the term "Professional courtesy"?

The for/memo line

Which of the following blank spaces on a check does NOT have to be filled in to be processed by the bank?

A cancellation of a fee

Which of the following definitions best describes a write-off?

A record of all unpaid patient accounts, organized by date of service or date of first bill

Which of the following definitions best describes and aging report?

A person responsible for paying a patient's bill

Which of the following definitions best describes the term "guarantor"?

Encounter Form

Which of the following is another term for "superbill"?

Send the account to a third-party collection agency

Which of the following is the best option for dealing with long-term delinquent accounts?

A letter

Which of the following is the least confrontation way to approach a patient about an unpaid bill?

a) If the check is not signed B) If the amounts on the check differ C) If liquid paper is present on the check to cover mistake D) All of the above

Which of the following situations would make a check invalid?

Payor

Which of the following terms refers to he person who writes the check?

Both a certified check and a money order

Which of the following type(s) of check is guaranteed not to bounce?

Sending Patient bills

Which of the following would be considered an accounting task?

the payee's signature on the back of the check

Which of these best describes a check endorsement?

the patient and the patient's guarantor

Who can a medical office assistant speak to about a patient's unpaid bill?

The Physician

Who decides when and to whom professional courtesy is extended?

One authorized person

Who should be in charge of the petty cash fund?

Because Medical offices and insurance companies have contracts for reduced charges

Why are insurance adjustments often necessary?

to avoid making unnecessary purchases or running out of important supplies

Why is it important to keep an up-to-date inventory of all administrative and clinical supplies in the office?

a) To ensure the accuracy of both document's B) To find out which deposits have been processed C) To find out which checks have not been processed D) all of the above

Why is it necessary to reconcile the bank statement with the office check ledger?

Entries are posted to several records at once

Why is the pegboard system also called the "write-it-once' method?