When an entry is made on the day sheet, it is called:
Journalizing
The total amount of cash, checks, and card payments should be manually recorded on a:
Cash control sheet
Patients should be given a receipt:
When they make payment in any form
In the past, the ____ system was exclusively used to record financial transactions.
Pegboard
Waiving deductibles/co-pays is unlawful because:
All of the responses are correct
(false claims, anti-kickback violation, excessive utilization)
Why is it important to explain patient financial obligations?
All of the responses are correct
(helps planning, clarifies charges, helps patient focus)
“You have not paid your prior balance. Your account will be sent to collections if not paid in full today.”
Which statement would not be professional?
A professional courtesy discount is an example of a(n):
Adjustment
The process of transferring info from one record to another is called:
Posting
Discounts must generally be authorized by:
Provider
Computerized practice management software does not:
Require a substantial amount of time to post procedures
Which is true of computerized accounting systems?
Automatically update records as info is entered
A(n) ____ form lists the procedures performed and their codes.
Encounter
Payment subtracted from balance
credit
Charge added to balance
debit
Reflects that the amount paid is greater than what was due
Credit balance
Reflects that the amount paid is less than the amount due
Debit balance
Formatted screens/databases for faster actions
Advantage
Useful reports for decisions
Advantage
Fast/accurate generation of invoices, orders, payroll
Advantage
Program must meet business needs, poor programming causes problems
Disadvantage
Better use of resources/cash flow improvement
advantage
integrated ledger system for recording
advantage
automatic account calculations
advantage