schedule a set list of fees charged for each type of healthcare service provided at an office/facility.

a record of all financial transactions for a business; may be electronic or on paper.

the schedule used in a medical office to determine when patients receive bills for outstanding balances.

in health care, a system established to adjust physician fees based on a patient’s household income; patients with a lower household income pay less than patients with a higher household income.

a bank draft that directs funds to be taken from a bank account for payment of an expense.

money that is paid at a set percentage rate for a debt.

a report showing the length of time that has passed since a charge was posted to an account.

in financial terms, overdue for payment.

with reference to a medical bill, not likely to be paid; providers/facilities may turn these bills over to a collection agency.

a business that specializes in collecting old debts.

an accounting category that may be used for patient bills that are deemed uncollectible.

accounts payable (A/P)

a business’s expenses, which include payroll, taxes, supplies, rent, etc.

accounts receivable (A/R)

a business’s income, which for a medical office include patient payments, insurance payments, interest payments, etc.

in financial terms, something that increases the net worth of a business; accounts receivable are considered part of a business’s assets.

in financial terms, an expense or something that reduces the net worth of a business; accounts payable are considered a liability.

a type of theft in which an employee steals from their employer.

in banking, payable (e.g., a valid check is negotiable).

a number that appears as a fraction on the upper right portion of a check, identifying the bank associated with the checkwriter’s account.

routing transit number (RTN)

a number associated with a bank account that identifies the financial institution where the account was opened and allows money to be moved in and out of the account.

in banking, to sign or stamp the back of a check to indicate it has been accepted.

electronic funds transfer (EFT)

a means of moving money from one financial institution to another electronically.

a request to make a purchase; confirms that payment is authorized for the items ordered.

a business providing goods or services to another business or individual.

a bill, or a summary of charges associated with an order from a vendor.

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MA CH10 H1E

Term	Definition
credit	money coming in; income.
debit	money going out; expense.
physician fee	schedule a set list of fees charged for each type of healthcare service provided at an office/facility.
ledger	a record of all financial transactions for a business; may be electronic or on paper.
billing cycle	the schedule used in a medical office to determine when patients receive bills for outstanding balances.
sliding scale	in health care, a system established to adjust physician fees based on a patient’s household income; patients with a lower household income pay less than patients with a higher household income.
check	a bank draft that directs funds to be taken from a bank account for payment of an expense.
interest	money that is paid at a set percentage rate for a debt.
aging report	a report showing the length of time that has passed since a charge was posted to an account.
delinquent	in financial terms, overdue for payment.
uncollectible	with reference to a medical bill, not likely to be paid; providers/facilities may turn these bills over to a collection agency.
collection agency	a business that specializes in collecting old debts.
bad debt	an accounting category that may be used for patient bills that are deemed uncollectible.
accounts payable (A/P)	a business’s expenses, which include payroll, taxes, supplies, rent, etc.
accounts receivable (A/R)	a business’s income, which for a medical office include patient payments, insurance payments, interest payments, etc.
asset	in financial terms, something that increases the net worth of a business; accounts receivable are considered part of a business’s assets.
liability	in financial terms, an expense or something that reduces the net worth of a business; accounts payable are considered a liability.
embezzlement	a type of theft in which an employee steals from their employer.
negotiable	in banking, payable (e.g., a valid check is negotiable).
ABA number	a number that appears as a fraction on the upper right portion of a check, identifying the bank associated with the checkwriter’s account.
routing transit number (RTN)	a number associated with a bank account that identifies the financial institution where the account was opened and allows money to be moved in and out of the account.
endorse	in banking, to sign or stamp the back of a check to indicate it has been accepted.
electronic funds transfer (EFT)	a means of moving money from one financial institution to another electronically.
purchase order (PO)	a request to make a purchase; confirms that payment is authorized for the items ordered.
vendor	a business providing goods or services to another business or individual.
invoice	a bill, or a summary of charges associated with an order from a vendor.

Created by: cvis

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