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

sum owed by a business for services or goods received

total amount of money owed to the facility

increases or decreases to patients accounts not due to charges incurred or payments received

column on the far right shows any amount due

issued by the bank; ensures good funds

patient's personal check; certified with the date the funds were available

column on the right records payments or adjustments (decreases the balance)

form used with pegboard system to record daily business transactions; includes daily totals to be carried forward

column on the left records charges ( increases the balance)

electronic check conversion

encounter form (superbill)

identifies procedures, (codes)diagnosis, and charges associated with the visit itemized statement for insurance billing

one responsible for payment

ledger (record of services)

record of charges payments or adjustments for individual or family

money market savings account

person/entity named on check as beneficiary of funds

(write it once system) manual medical accounts receivable system uses a margin of "pegs" that hold documents in place

used for minor, routine or unexpected expenses

recording financial transactions into a bookkeeping or accounting system

Advanced Beneficiary Notification form is used primarily for:

Medicare patients for the purpose of collecting payments that are not allowed by Medicare

provides financial information for decision making

daily recording of transactions or accounts

financial record of the patient

used for payments on accounts (usually for payments that occur outside of the date of service)

An endorsement consisting only of the endorser's signature.

A signature or stamp on the back of a check transferring ownership.

official authorized to validate legal documents

check with stub attached that serves as receipt/record of services provided

check payments are deposited using a check scanner

electronic check conversion

paper check is converted to an electronic fund transfer; 

ROA (received on account) CASH

indicated w/cash payments (i.e. copays)

used as "working funds" for the practice (making change etc.) NOT petty cash

what should you do first if you receive a NSF check

- call the bank and see if the funds are now available

why should there be controls over purchasing?

ensures unnecessary purchase/duplication of items provides a system for payment for ordered/received items

verifying supplies received includes?

correct items and quantities were shipped

financial records of patients...

are to be kept separate from patient's medical charts

Which of the following is not the responsibility of the Medical Assistant in regards to the discussion of fees?

A. making sure providers receive education, training, and experience in diagnosis and treatment concerns B. informing the patient about provider charges C. collecting payments D. making credit arrangements if necessary E. making certain patients and their providers receive the full benefit of medical insurance

What is the name of the form given to Medicare patients explaining that the cost of a procedure is the responsibility of the patient?

A. waiver of fees B. Advanced beneficiary notice C. medical necessity form D. patient responsibility form

Which of the following is not a part of the pegboard system?

A. day sheets B. ledger cards C. charge slips D. receipt forms E. bank deposits

Which of the following is not a major advantage of the pegboard system?

A. forms work together to simplify the task B. complete up-to-date balance of accounts payable C. relatively inexpensive D. write it once system

Which of the following best describes the use of a charge slip?

A. provides patient with account activity for the month B. provides a patient receipt when payments are mailed C. supplements the pegboard system D. provides patient with account activity for the day of service

Which of the following is the most appropriate action of the medical assistant before using a new day sheet?

A. put all ledger cards on sheet in order to be seen B. place charge slips alongside the day sheet C. forward balances from previous day D. pull ledgers from storage file when patients are seen

Which of the following is an appropriate action of the medical assistant when someone makes a payment on an account when no services were rendered?

A. write the charge on the day sheet B. use the receipt form C. no ledger is needed D. use day sheet only

Which of the following is not an advantage of a computerized system?

A. automatic creation of encounter form B. creates and updates patient account C. practices collections increased D. increased time to train personnel E. automatic aging of accounts

complete and up to date information about accounts receivable status at a glance

Which of the following is the most likely cause of the deposits not agreeing with the credits on the day sheet or the patient ledgers?

A. there are duplicate cards B. deposits were miscounted C. cash is missing D. payment is misplaced

When is the recommended time for deposits?

A. twice a week B. once a week C. daily D. monthly

Which of the following is the type of endorsement that should be used in the ambulatory care setting?

A. blank B. limited C. full D. restrictive E. open

Which type of check has a stub attached that is used to indicated date and invoice numbers?

A. cashier's B. certified C. money order D. voucher E. traveler's

Which of the following is a primary advantage to the ambulatory care setting that accepts credit cards?

A. no fees are paid B. confidentiality is not a problem C. money is not a problem D. money is available within 24 hrs or so

Which of the following is the most appropriate action when balancing a petty cash amount?

A. add $10 to the amount weekly B. add $25 to the amount weekly C. add $100 at the beginning of each month D. add an amount equal to that spent

Which of the following accounts is debited when a check is written to pay invoices?

A. accounts receivable B. accounts payable C. expenses D. checking

Which of the following is the first rule of purchasing?

A. check all items ordered when received B. check invoice with items delivered C. nothing is ordered or paid for without a purchase order D.pay for items received only E. do not pay for any orders before 30 days

Which of the following is used to reconcile a bank statement?

A. daily cash B. daily income C. accounts receivable D. depositor's checkbook

Which of the following would not be indicated on a bank statement?

A. listing of cleared checks B. deposits received by bank C. service charges D. time check was written

Which of the following is not a procedural step when disbursing the petty cash funds?

A. sort all vouchers by account B. list all accounts involved C. total vouchers for each account D. write a check to replace funds E. add receipts to original petty cash amount

Which of the following applies to the cash that is usually kept in a locked change drawer and used for transactions with patients who pay in cash and need change?

A. petty cash B. cash on hand C. accounts receivable cash D. accounts payable cash

Which of the following is not recommended rule in a manual bookkeeping system?

A. use a consistent black or blue ink color B. write neatly and clearly, forming numbers carefully C. align columns carefully using paper with grid lines D. if a mistake is found, cover up by using white out E. be careful when placing or carrying decimal points

At times patients may not be able to pay their medical bills for various reasons. What can medical assistants do to assist them with this?

A. nothing, laws require patients to pay their bills in full B. make financial arrangements with patients, allowing full payment for services provided C. allow patients to pay a reduced amount D. tell patients their future visits won't be allowed until bills are paid in full

The patient's check is returned for insufficient funds. Which of the following applies to the patient account balance after the amount of the NSF check is posted and an entry is made in the adjustment column?

A. account balance is decreased B. account balance is increased C. account balance does not change D. adjustment is added

Which of the following best classifies the adjustment column in the accounting process and its effects on the balance due?

A. credit column; increases balance B. debit column; decreases balance C. neutral; no charge to balance D. credit column; increases balance E. credit column; decreases balance

A patient is called about an NSF check. They state they are very sorry and ask what they can do. Which of the following types of checks would the MA ask them to bring to the office as a guaranteed payment for the returned check?

A. cashier's B. certified C. voucher D. traveler's

In a concierge-type medical practice, what do providers usually do?

A. set per-determined fees B. collect co-pays C. collect additional fees D. use a separate set of insurance guidelines

Which of the following is not a requirement for the ABN form?

A. should be in writing B. should indicate the type of procedure(s) C. should indicate the final cost D. should include the reason why the patient is responsible

In the case of divorced parents and blended families, which parent is considered to be the guarantor and is responsible for payment?

A. the father B. the parent with physical custody C. the mother D. the parent with the earliest birth date

On the ledger card, which column is used for entering payments?

A. credit column B. debit column C. balance column D. adjustment column

The Center for Medicare and Medicaide Services (CMS) requires providers to apply for and receive what type of identifier?

A. tax identification number B. state license number C. national provider identifier D. federal provider identifier

Why is the daily proof of posting an important part of the Daysheet?

What is a ledger card quizlet?

Why is the pegboard system also called the write it once method quizlet?

What are five sections of a pegboard Daysheet?