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?