Term | Definition |
account | a statement of transactions during a fiscal period and the resulting period |
account balance | the amount owed on an account |
accounts receivable ledger | a record of the charges and payments posted on an account |
credit | an entry on an account constituting an addition to to a revenue, net worth, or liability account; the balance in a person's favor |
credit cards | devices issued by a bank or other financial institution, retail stores, and other businesses that allow the card holder to make purchases prior to paying for them; the card holder is then billed, usually after interest has been added |
debit cards | cards that look like credit cards and by which money can be withdrawn, bills paid, or purchases made directly from the holder's bank account without the payment of interest |
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 libality account |
disbursements | funds paid out |
fee profile | a compilation of pre-estabilshed fee allowances for given services or procedures |
fiscal agent | an organization under contract to the government (as well as some private plans) to act as financial representatives in handling insurance claims from providers of healthcare; also refered to as fiscal intermediary |
instigate | to goad or urge forward; to provoke |
medically indigent | able to take care of ordinary living expenses but unable to afford medical care |
payables | balances due to a creditor on an account |
pegboard system | an older method of tracking patient accounts that allows the figures to be proved accurate through mathematic formulas. it is still used in some small to medium practices; also called the write-it-once system |
posting | entering figures in an accounting system; transferring or carrying from a book of original entry to a ledger |
preponderance | a superiority or excess in number or quanity; a majority |
professional courtesy | reduction or absence of fees to professional associates |
receipts | amounts paid on patient accounts |
receivables | total monies received on accounts |
secured | a loan or line of credit that is backed by a pledge of payment and usually obtained using collateral |
transaction | an exchange or transfer of goods, services, or funds |
trustee | a person to whom property 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 |
unsecured | a debt that is not protected by collateral |