Question | Answer |
UCR | Usual, customary, and reasonable |
copayment | predetermined amount of money the pt must pay for services. Usually a flat dollar amount. |
Truth in Lending Act | Information provided to the pt when there are more than 4 payments arranged to be paid to the office. |
bad debt | amount of accounts receivable that is considered not collectable |
superbill | record of services and is used for billing and insurance processing |
encounter form | see the definition for superbill |
charge slip | see the definition for superbill |
ledger card | used to record charges, adjustments, payments and current balance for the patient |
subscriber | person who holds the insurance |
accounts payable | money that is owed to vendors, suppliers, etc. |
payer | the person or company writing the check |
payee | the person or company receiving the check |
magnetic ink character recognition | MICR: numbers printed at the bottom of a check |
stale check | a check that is outstanding after a certain time frame, usually 90 to 180 days |
non-sufficient funds | the payer's bank account does not have enough money to cover the amount of the check written |
cashier's check | guarantees payment because it is written on a check drafted by a bank |
certified check | guaranteed check because the bank has set aside money from the payer's account to cover the transaction |
stop-payment order | the payer requests the bank not honor the check |
deposits | money placed into a bank account |
embezzlement | unauthorized taking of funds. A form of stealing |
debits | charges against an account |
credits | additions to an account |
reconciliation | balancing the checkbook by using information from the bank |
gross annual wage | the amount of wages before taxes |
tax withholding | money held from a paycheck to cover taxes such as income tax. |
audit | reexamination of all the financial statements to determine accuracy |