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Midterm exam chp 20
| Question | Answer |
|---|---|
| A third party endorsement also is known as a ? | Restrictive endorsement |
| A medical provider or practice manager may periodically review reports to ensure accuracy of the books ? | Trial balance |
| A medical provider would most likely render treatment as a professional courtesy ? | Other healthcare professionals |
| When is it appropriate for a medical provider to asses finance barges or late charges on past due accounts ? | Only when the patient is notified in advance |
| Accounts payable is typically the largest in a medical office? | Payroll |
| On average how much will a medical practice generally receive if the provider charges $100 for services and the patient pays with a credit card ? | $95-$99 |
| Payment by credit for a medical practice ? | Provides prompt payment from the credit card company |
| A written agreement of the patient and the practitioner is an ? | Disclosure statement. |
| A letter that has a friendly “ we want to help” tone and gives the patient options but makes it clear th\at the patient must take some sort of action is most appropriately sent when the account is how many days past due ? | 60 |
| What type of check is usually used for payroll in the medical office ? | Limited |
| A practioner may use what type of check whe he wants to withdraw money from the bank account but forgot his check book. | Counter |
| Any payment the medical office makes for goods or services is called ? | Disbursement |
| Payment by credit card for a medical practice ? | Provides prompt payment From the credit card company |
| A payment arrangement in which the provider decides a patient will be billed every month for the full amount owed and should make whatever payment is possible each month is an? | unilateral agreement |
| What requires auditors to provide applicants with accurate and complete credit costs and terms ? | Truth lending act |
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PreciousP