MA 500 week 2

Which Term represents Money that is owed to the Medical Office?

• Accounts Payable

• Revnue

• Cash Due

• Accounts Receivable

What is the Term that describes bills that the practice pays for?

• Accrual

• Accounts Receivable

• Accounts Payable

• Deductible

What is reason the office keeps a daily journal/bookkeeping system?

• To record financial activity

• To keep a chronological record of transactions

• To keep record of cumulative financial activity

• Keep records of an individual patient

What type of record is utilized to keep track of all charges for an individual patient?

• Patient Statement

• Patient Ledger

• Patient Medical Record

• Daily Journal

How often are charges and payments posted to patient accounts?

• Daily

• Hourly

• Weekly

• Monthly

What would be an example of the patient receiving a credit?

• A patient is charged for an office visit

• Patient is given a discount for paying in full at the time of the visit

• When the patients charges are sent to the insurance company.

• Check is returned by the Bank

What is the name of the charge slip used in the Medical Office?

• Receipt

• Superbill

• Registrar

• CMS-Claim Form

Who is responsible for determine the CPT/EM code for the office visit?

• Office Manager

• Medical Assistant

• The Physican/Provider

• The Office Assistant

Which codes are necessary to submit a Claim to the Insurance?

• Both Diagnosis and Procedure Codes

• Surgical codes

• Procedure Codes

• Codes are optional

What does it mean to "Close out the day"?

• All patient have been seen and staff goes home

• No further accounts receivable transactions for the day.

• A Manual day sheet can be destroyed

• All charges have been posted.