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VOP Lecture 4
Spring 2023 Lecture 4
| Question | Answer |
|---|---|
| Costs behind the fees: | equipment and supplies, mortgage or lease, staff salaries, training and education, miscellaneous other costs |
| Payment Planning: | estimate, credit bureaus, credit applications, truth in lending, credit cards |
| Adjusting or Cancelling Fees: | discount amount, medically indigent (undergoing severe financial hardship), professional courtesy |
| Billing Customers: | computerized billing (post, account history, alpha search, ICD diagnostic codes), sending statements (cycle billing) |
| ICD: | International Classification of Diseases |
| Collecting Past Due Accounts: | accounts receivable ratio, aging accounts receivable, telephone reminders, written reminders |
| Forced Collection: | increase firmness, 90 days -> final notice, lawsuit, small claims, court, statute of limitations, always follow office policy and protocol for billing and collections |
| Payroll Accounting: | Form I-9 (employment eligibility), gross pay, net pay |
| Payroll Accounting Taxes Withheld: | Federal income tax withholding, FICA tax withholding, state/local tax holding, Form W-2, Form 941 |
| Unemployment Insurance: | temporary benefits for those who become unemployed |
| Form W-2: | wage/tax statement |
| Form 941: | federal tax return |
| FICA Tax Withholding: | Federal Insurance Contribution Act; payroll tax, SSN |
| Federal Income Tax Withholding: | exemptions, employee's withholding allowance certificate, federal wage-bracket withholding table |
Created by:
mkroon26
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