chapter 22

  1. account
    a statement of transactions during a fiscal period and the resulting balance
  2. account balance
    • the amout owed on a account
    • also called debit balance
  3. accounts receivable ledger
    a record of the charges and payments posted on an account
  4. credit
    an entry on an account constituting an addition to a revenue net worth or liability account the balance in a person's favor
  5. credit cards
    devices issued by a bank or other financial instiution retail sotres and businesses that allow the card holder to make purchases prior to paying for them the card holder is then billed after instest has been added
  6. debit cards
    cards that look like credit cards and by which money can be withdrawn bills paid or purchases made directly from the holder's bank account without the payment of interest
  7. debit
    an entry on an account representing an addition to an expense or asset account or a deduction from a revenue a net worth or a liability account
  8. disbursements
    funds paid out
  9. fee profile
     a compilation or average of physician fees over a given period
  10. fee schedule
    a compilation of pre-established fee allowances for given services or procedures
  11. fiscal agen
    an organization under the contract to the government to act as financial representatives in handling insruance claims from providers of healthcare also referred to as a fiscal intermediary
  12. instigate
    to goad or urge foward to provoke
  13. medically indigent
    able to take care of ordinary living expenses but unable to afford medical care
  14. payable
    balances due to a creditor on an account
  15. pegboard system
    an older method of tracking patient accounts also call the write-it-once system
  16. posting
    entering figures in an accounting system transferring or carrying from a book of original entry to a ledger
  17. preponderance
    a supeiority or excess in number or quantity a majority
  18. professional courtesy
    reduction or absence of fees to professional associates
  19. receipts
    amounts paid on patient accounts
  20. receivables
    total monies received on accounts
  21. secured
     a loan or line of credit that is backed by a pledge of payment and usually obtained using collateral
  22. transaction
    an exchange or transfer of goods services or funds
  23. trustee
    a person to whom propery is legally committed to be administered for the benefit of a beneficiary or held by an administrator to be distributed to multiple individuals or businesses
  24. unsecured
    a debt that is not protected by collateral
  25. UCR
    • usual
    • customary
    • reasonable
  26. usual
    the physician's usual fee for a given service the fee most frequently charge for the service
  27. cutomary
    a range of the usual fees charged for the same service by physicians with similar traning and experience who practice in the sam geographic and socioeconomic area
  28. reasonable
    the fee for an exceptionally difficult or complicated service or procedure that requires extraordinary time or effort by the physician
  29. fee for service
    the physician must place an estimate on the value of services
  30. physicians have three commodities to sell
    • time
    • judgment
    • services
  31. one goal of managed care is
    to prevent health problems before they start
  32. explain fees such as
    • costs of operation
    • anesthesiologist charges
    • radiology charges
    • hospital bills
  33. the ____ is responsible for the entire bill regardless of whether insurance pay on the bill or not
  34. guarantor
  35. prepare estimate slips in duplicate so that the patient can have a copy
    • help to avoid forgetting that a fee was quoted
    • may help to avoid later misquoting of the fee
    • help to simplify collections by prevnting misunderstanding about charges
  36. the slips attached to charts while a patient is in the office are called
    encounter forms

    also called superbill , charge slips and multipurpose billing forms
  37. the best way to collect payment
    at the time of service
  38. insurance allowance
    the amount of the reimbursement that the insruance company allows to be paid for a certain treatment or procedure
  39. debit column
    located on the left charge column
  40. credit column
    located to the right of the debit column paid or payments used for entering payments received on an account
  41. balance column
    used to record the difference between the debit and the credit column
  42. adjustment column
    professional discounts , write offs , disallowances by insurance companies
  43. net back
    the amout of money paid to the facility after the agency has been paid its fee
Card Set
chapter 22
chapter 22