| Question |
Answer |
| A group of insurance claims sent at the same time from one facility is known as a |
batch. |
| A clearinghouse is a/an |
entity that receives transmission of insurance claims, separates the claims, and sends each one electronically to the correct insurance payer. |
| The most important function of a practice management system is |
accounts receivable. |
| The employer’s identification number is assigned by |
the Internal Revenue Service. |
| Back-up copies of office records should be stored |
away from the office. |
| When a medical practice has its own computer and transmits claims electronically directly to the insurance carrier, this system is known as |
carrier-direct. |
| Cash flow is |
the ongoing availability of cash in the medical practice. |
| When insurance carriers do not pay claims in a timely manner, what effect does this have on the medical practice? |
Decreased cash flow |
| The average amount of accounts receivable should be |
1.5 to 2 times the charges for 1 month of services. |
| Accounts that are 90 days or older should not exceed |
15% to 18% of the total accounts receivable. |
| What should be done to inform a new patient of office fees and payment policies? |
Discuss fees and policies at the time of the initial contact. |
| The reason for a fee reduction must be documented in the patient’s |
medical record. |
| Professional courtesy means |
making no charge to anyone, patient or insurance company, for medical care. |
| When collecting fees, your goal should always be to |
collect the full amount. |
| When the physician’s office receives notice that a check was not honored, the first thing to do is to |
call the bank or the patient. |
Science Vocab 147928
