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Terms in this set (45)1 A credit adjustment is a change to a patient's account that reduces the balance of a patient's account. T or F TRUE 2 A large check has to be written out for a piece of expensive equipment. The company selling the equipment to the practice wants to make
sure that the check will clear the bank. How can the office pay for the equipment and satisfy the seller? a. Obtain a cashier's check from the bank. 3 A patient presents a debit card to pay a co-payment and asks for
$25.00 cash back. What should the medical assistant say or do? a. Accept the card for payment and tell the patient where an ATM is located.
4 A postal money order may have up to three endorsements. T or F FALSE 5 Before leaving the office, the patient gives the medical assistant $10 on account. What type of entry does the medical assistant make to the computer billing program? b. Payment 6 Bookkeeping refers to the process of recording financial transactions, but accounting is a more general term used for the systematic recording and reporting of financial transactions. T or F TRUE 7 Charges, payments, and adjustments can be posted using a manual system or practice management software. T or F TRUE 8 Dr. Brown has
a large bill that he has to pay for his professional liability (malpractice) insurance. Which account is the medical assistant most likely to use to pay this bill? a. Office money market account 9 How do money market accounts compare with checking accounts? c. Checks must usually be written for a higher minimum amount. 10 How does the medical assistant know what the usual charge is for a procedure?
a. The charge appears from computer memory when the procedure is selected. 11 How should checks that are
received by the medical facility be endorsed? b. Restrictive endorsement 12 How will the medical office usually utilize a savings account? c. To keep a reserve fund of money that is not necessary to pay expenses 13 In a business checkbook, the stubs on the left side of the checkbook function as a running checkbook ledger. T or F TRUE 14
In bookkeeping, what is an example of a credit? a. A patient is given a discount for paying in full at the time of the visit. 15 In which type
of bookkeeping system is every transaction posted into two different records, once as a credit and one as a debit? c. Double-entry bookkeeping system 16 The account balance provided by the bank should always agree with the account balance of the medical office checkbook ledger. T or F FALSE 17 The bag used to leave bank deposits in a night deposit box may contain an electronic device to allow the bank to identify the owner of the deposit bag. T or F TRUE 18 The cash disbursements journal usually contains columns to track expenses by categories. T or F TRUE 19 The petty cash fund should be replenished by writing a check to return the petty cash fund to the original starting amount. T or F TRUE 20 What amount of money is left in the cash drawer at the end of the day? b. A set amount used daily to provide change for patients who pay cash 21 What does it mean to close the day (close out the day)? d. No further accounts receivable transactions can be made using that date. 22 What does it mean to successfully reconcile a bank statement? b. The bank records and medical office records are in agreement. 23 What is a valid system to reduce the number of manual checks that need to be written? d. Use an online bill payment system. 24 What is an advantage of a computer billing system related to posting payments? a. The record of the payment appears in various types of reports (ledger, day sheet, etc.). 25 What is recommended when accepting credit cards in a medical office? b. The patient name and signature should be verified when a credit card is accepted. 26 What is the function of a daily journal (day sheet) in a bookkeeping system? b. To keep a chronologic record of transactions each day 27 What is the major disadvantage of the single-entry bookkeeping system? a. There is no method to cross-check for accuracy of recording and calculations. 28 What is the term used to describe money that is owed to the medical office? b. Accounts receivable 29 What is usually collected as payment for a patient with managed care insurance at the time of an office visit? c. Co-payment 30 What must be given to patients with original Medicare
if it is possible that Medicare might not cover the service which will be provided? b. Medicare Advance Beneficiary Notice 31 What precaution should be taken when accepting a credit card for payment by a patient? a. The name on the card should be the name of the individual presenting the card. 32 What term is used to describe the bills that the practice has for office rent,
equipment rental, and salaries? c. Accounts payable 33 What type of record is used to keep track of all the charges and payments for each individual patient? d. Patient ledger 34 What types of procedures usually are NOT covered by insurance? c. Elective surgery 35 When a patient charge is entered into a computerized medical billing system, the posting is reflected both in the patient ledger as well as the daily record of charges. T or F TRUE 36 When can a signature stamp be used to endorse a check? b. When the check will be deposited 37
When is income calculated if a medical office uses the cash basis of accounting? b. At the time a patient bill is paid. 38 Where is the MICR line located on a check? b. Along the bottom of the check 39 Which codes are necessary in order to submit insurance claims? c. Both diagnosis and procedure codes 40 Which of the following is a reason the bank statement may not agree with the office record for a checking account? a. There may be interest on the account that must be added to the balance. 41 Which of the following is a way that patients make payments on their outstanding accounts? b. Online payments made by credit or debit card through the practice website. 42 Which of the following is an example of a debit adjustment (increases the amount the patient owes)? a. Check returned by the bank for Not Sufficient Funds 43 Which practice should the medical office avoid when accepting checks from patients? a. Accepting the patient's paycheck after the patient has endorsed it to the office 44 Which type of check should the medical assistant accept from a patient? d. Check for the outstanding amount 45 Who
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What precautions should be taken when accepting a check quizlet?Be sure the check has the correct date, amount, and signature. ... . Payee, Payer. ... . Endorsement. ... . Restrictive endorsement. ... . the misspelled was followed by the correct way. ... . 1 1/2. ... . be sure to receive a record of deposit.. What precaution should be taken when accepting a credit card for payment by a patient?What precaution should be taken when accepting a credit card payment by a patient? The name on the card should be the name of the individual presenting the card.
What are four ways that payments are made to a patient account? Patients pay at the time of service in full or part.. Patient makes a payment through the mail.. Make an online payment through the medical practice website.. Insurance company by mail, electronic transfer.. |
What are common precautions for accepting checks in the medical office quizlet?
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