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Medical Terminology

Fuschia Module- Accounts Receivable

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
Popular Accounting sets




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