Ch 19/20/21 Flashcards
Amount owed to a business for services or goods supplied
Accounts receivable
Increases or decreases to patient accounts not due to charges incurred or payment received
Adjustments
Amount owed
Balance
Bank’s own check drawn against the bank’s account
Cashier’s check
Decreases balance due
Credit
Form used with pegboard system to record daily patient transactions
Day sheet
Used for entering charges and description of services
Debit
Formerly known as a charge slip or superbill
Encounter form
The person identified as responsible for payment of the bill
Guarantor
Record of charges, payments, and adjustments for individual patient or family
Ledger
Someone with the legal capacity to witness and certify documents
Notary
Small sum kept on hand for minor or unexpected expenses $75-$100
Petty cash
Most commonly used manual medical accounts receivable system
Pegboard system
Person named on check who is to receive the amount indicated
Payee
Recording financial transactions into a bookkeeping or accounting system
Posting
Often used in place of cash when traveling
Traveler’s check
Check with detachable form used to detail reason check is drawn
Voucher check
Outstanding accounts receivable divided by the average monthly gross income for the past 12 months
Accounts receivable ratio
Gross income divided by the amount that could have been collected less disallowances
Collection ratio
1977 federal law that outlines collection practices
Fair debt collection practice act
Court that administers estates and validates wills
Probate court
Statue that defines the period in which legal action can take place
Statue of limitations
Known as the consumer credit protection act of 1968; an act requiring providers of installment credit to state the charges in writing and to express the interest as can annual rate
Truth-in-lending act
Sum owed by a business for derives or goods received
Accounts payable
