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Medical Terminology
Fuschia Module- Accounts Receivable
| Term | Definition |
|---|---|
| account | a statement of transaction during a fiscal period & the resulting balance |
| account balance | the amount owed on an account |
| accounts receivable ledger | a record of the charges & payment posted on an account |
| credit | the balance in a person's favor; an entry on an account constituting an addition to a revenue or net worth |
| debit | an entry on an account representing an addition to an expense or asset account or a deduction from a revenue or net worth |
| decedent | a person who is deceased |
| disbursements | funds paid out |
| fee profile | a complilation or average of physician fees over a given period of time; used in determining the amount of third-party liability for services under contract |
| fee schedule | a compilation of pre-established fee allowances for given services or procedures |
| fiscal agent/fiscal intermediary | an organization under contract to the gov't to act as a financial representative in handling insurance claims from providers of healthcare |
| instigate | to provoke; to goad or urge forward |
| intangible | not made of physical substance; not able to be held or touched |
| medically indigent | able to take care of ordinary living expenses, but not able 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 mathematical formulas |
| 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 quantity; a majority |
| professional courtesy | reduction or absence of fees to professional associates, staff, or immediate family |
| 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 & 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 |
| credit balance | the type of balance that occurs when a patient overpays |
| guarantor | person responsible for paying on an account |
| managed care | when a dr accepts fees that are pre-determined by a medical plan |
| skip/skip tracing | when a statement is returned via mail marked "moved-no forwarding address"; the process used to track down people that owe money on their accounts |
| accounts payable | debts incurred & not yet paid |
| Fair Debt Collection Practice Act | requires that debt collectors act fairly in their collection efforts; restricts how & when a person can be contacted about an outstanding debt |
| account aging | accounts held together according to the length of time which they have been open or have had a balance |
| charge slip/encounter form | provides an itemized statement of services & procedures with Dr's notes |
| debit column | used to enter charges on a daysheet |
| credit column | used to enter payments received for services |
| adjustment column | used to enter professional discounts, write-offs, or disallowances |
| cycle billing | statements are sent out at different times of the month |
| special bookkeeping entries | refunds, credit balances, adjustments, NSF |
Created by:
ginaliane
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