Ch 22

Question 1

account

Answer 1

a statement of transactions during a fiscal period and the resulting balance

Question 2

account balance

Answer 2

the amount owed on an account

Question 3

accounts receivable ledger

Answer 3

record of the charges and payments posted on an account

Question 4

credit

Answer 4

entry on an account constituting an addition on a revenue, net worth, or liability account; the balance in a person’s favor

Question 5

credit cards

Answer 5

issued by a bank, or other financial institution, retail store, and other businesses that allow the card holder to make purchases prior to paying for them; the card holder is then billed, usually after interest has been added

Question 6

debit cards

Answer 6

look like credit cards and by which money can be withdrawn, bills paid, or purchases made directly from the holder’s bank account without the payment of interest

Question 7

debit

Answer 7

entry on an account representing an addition to an expense or asset account or a deduction from a revenue, a net worth, or a liability account

Question 8

decedent

Answer 8

person who is deceased

Question 9

disbursements

Answer 9

funds paid out

Question 10

fee profile

Answer 10

compilation or average of physician fees over a given period

Question 11

fee schedule

Answer 11

compilation of pre-established fee allowances for given services or procedures

Question 12

fiscal agent

Answer 12

organization under contract to the government to act as financial representatives in handling insurance claims from providers of healthcare; also referred to as a fiscal intermediary

Question 13

instigate

Answer 13

to goad or urge forward; to provoke

Question 14

intangible

Answer 14

not made of physical substance; not able to be held or touched

Question 15

medically indigent

Answer 15

abel to take care of ordinary living expenses but unable to afford medical care

Question 16

payables

Answer 16

balances due to a creditor on an account

Question 17

pegboard system

Answer 17

older method of tracking patient accounts that allows the figure to be proved accurate through mathematical formulas; it is still used in some small to medium practices, also called the write-it-once system

Question 18

posting

Answer 18

entering figures in an accounting system; transferring or carrying from a book of original entry to a ledger

Question 19

preponderance

Answer 19

a superiority or excess in number or quantity; a majority

Question 20

professional courtesy

Answer 20

reduction or absence of fees to professional associates

Question 21

receipts

Answer 21

amounts paid on patient accounts

Question 22

receivables

Answer 22

total monies received on accounts

Question 23

secured

Answer 23

a loan or line of credit that is backed by a pledge of payment and usually obtained using collateral

Question 24

transaction

Answer 24

an exchange or transfer of goods, services, or funds

Question 25

trustee

Answer 25

a person to whom property is legally committed to be administered for the benefit of a beneficiary or held by an administrator to be distributed to multiple individuals or businesses

Question 26

unsecured

Answer 26

a debt that is not protected by collateral

Question 26

Benefits are determined

Answer 26

Idemnity schedules
Service benefit plans
Resource based relative value scale
Determination of the usual, customary, and reasonable fees