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Mod C Unit 3


When a pt wants to make monthly payments the MA should draw up a written agreement
To successfully “reconcile” a bank statement means that the ___________________records and _______________________records are in agreement bank and office
Collection letters work best if they are firm but positive
When spending small amounts of money on office supplies you should use the petty cash account
When depositing currency all bills should be in __________________ and facing up order
If an employee is paid on an hourly basis, pay for overtime work is usually calculated at time and a half
Minimum wages are regulated by the federal government under the fair labor act
For each patient, the charges and payments should be recorded on an individualized ledger
A collection agency charges 40% of any negotiated settlement for making a collection. The practice sent the collection agency an unpaid bill for $1400. The collection agency accepted a negotiated settlement of $1000 to consider the account closed. How muc 600
At the time of the patient visit, charges for services and payments are kept track of on the charge slip
A patient whose account has been sent for collection comes into the office and tries to settle the account. The medical assistant must refer the pt to the collection agency
Usually an account is considered overdue when the balance is not paid within 30 days
The Federal Truth in Lending and the Fair Debt Collection Acts impact what action in the medical office collection
When using the T-account, an amount recorded on the left side of the T is called a _____________________, and an amount recorded on the right side of the T-account is called a___________________________ debit/credit
how often should deposits be made daily
A blank endorsement makes checks negotiable
While writing a check, if you make a mistake that cannot easily be corrected, you should void out the check
A unique number assigned to a bank is called routing number
Checks received by a medical office are typically endorsed with a restrictive endorsement
When a check is returned to a medical office marked NSF, you should notify the check writer
When accepting a check for payment, you must verify what information provider name, amount, and date
These contain demographics about the patient as well as important billing information ledger card
The person signs only his or her name on the back of the check is called a blank endorsement
What is money that is owed to the medical facility called accounts receivable
The process of determining how long specific accounts and balances have been outstanding is called aging
The bills that the practice has for rent, equipment rental, and salaries are known as accounts payable
Anything of value that belongs to the practice is referred to as assets
Money owed to creditors is known as liabilities
A type of charge slip that uses diagnostic and procedure codes is called superbill
Once an agreement has been made with the patient to accept monthly installments, the regulations that apply to the written contract are known as the Truth Lending Statement
One type of manual accounting system that is used in offices is a pegboard system write it once
the person paying the debt payer
a check written out with a future date post dated
the amount of money not able to be collected write off
amount of the pay check after deductions net wages
financial activity of a business transaction
total amount earned for a pay period gross wages
items of value in the medical office assets
insurance for workers injured on the job workers comp
tool used to analyze effects of a transaction on an account T-account
the person receiving the payment payee
A document showing the activity in a account statement
A report showing the results of income and expenses income statement
A document listing the physicians charges for service fee schedule
A report on financial condition of a business on a certain date balance sheet
reports showing financial condition of a business financial statement
Created by: pdeal