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Ch 13,14,15 review

Business practices, test review ch 13-15

QuestionAnswer
Fees for professional services rendered Charges
When you make a payment on an account your liabilites Decrease
Act that sells consumer reports for predators, employers, and sugars and other business fair credit fair credit reporting act
Term that means to believe or trust Credit
The red flag rule is 2 pt identifiers
Extend credit to one patient extend to all Equal opportunity credit act
Analysis of accounts receivable showing 30, 60, 90 and 120 days delinquent Analysis of accounts receivable showing 30, 60, 90 and 120 days delinquents gong account
Financial institution who cashes the check for that PAyee Drawee
A record showing payment charges adjustments and balances owed and created for each patient ledger card
set dollar amount is for professional services Fee for service
Participating, nonparticipating and limited charges are all Medicare fees
A deadbeat is One who avoids bills
Build towards employees, medical supplies, rent are all considered Liabilites
Multipurpose billing form, the ticket, super bill Routing form
Garnishment is Limited to 25% of disbursement for giving work week
Quantum merit As much as he deserves
Hospitals that receive a federal construction grant to care for an indigent people is called Hill burton act
Governs anyone he charges interest or a greased more than four payments Federal truth in lending act (regulation Z)
Straight petition in bankruptcy Chapter 7
Calling a patient on Sunday for collection purposes violates Fair collection dad practice act
Someone who has a residence of a motel address might be a Deadbeat
Regarding multiple fee schedules, a medical practice may have separate fee schedules for Workers compensation
A person who receives funds Bearer
Accounting system that requires a transfer of information onto journals and ledgers Single entry
The accounts receivable at is an Asset
Owner's net worth Proprietorship
Register for all daily business transactions for the practice Daysheet
Bookkeeping entries reflecting money owed Debits/debt
A check that has no ABA number Warrant
Petty cash fund is usually how much 50-200
A good collection rate for a collection agency is 30-60%
ABA is the same as Routing number
Journal, Daysheet, daily log, day book Charge journal
Most popular bookkeeping method used in physicians office for decades Peg board accounting
Bookkeeping entry that decreases assets and increases earnings Credit
To locate a transposition error you Divide by 9
For deposit only Restrictive endorsement
Endorsement were a signature is only required Blank
Checks that are in increments of 10 20 50 and 100 Travelers check
Check that is made payable out of the payee bank account and no stop payments are made. Cashiers check
Void after 90 days or if over a certain amount is called a Limited cgeck
Type of endorsement mainly use in doctors offices are Restrictive
Most common type of accounts are Checking and savings
To make a loud noise when someone is delinquent DUN
To record a charge, payment or adjustment on a ledger account Post
Accounting system that is simple and excepted by both federal and state Single entry
A part of the pegboard system includes Daysheet
Liabilities in a medical practice with us likely be put in Accounts payable A/P
To record a charge, payment or adjustment on a lecture or account Post
Accounts receivable Asset
Individual responsibility program would be part of Concierge medicine aka retainer medicine
The drawer is the same as the Maker
Created by: Gmtassa23