Ch 22 Flashcards
account
a statement of transactions during a fiscal period and the resulting balance
account balance
the amount owed on an account
accounts receivable ledger
record of the charges and payments posted on an account
credit
entry on an account constituting an addition on a revenue, net worth, or liability account; the balance in a person’s favor
credit cards
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
debit cards
look like credit cards and by which money can be withdrawn, bills paid, or purchases made directly from the holder’s bank account without the payment of interest
debit
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
decedent
person who is deceased
disbursements
funds paid out
fee profile
compilation or average of physician fees over a given period
fee schedule
compilation of pre-established fee allowances for given services or procedures
fiscal agent
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
instigate
to goad or urge forward; to provoke
intangible
not made of physical substance; not able to be held or touched
medically indigent
abel to take care of ordinary living expenses but unable to afford medical care
payables
balances due to a creditor on an account
pegboard system
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
posting
entering figures in an accounting system; transferring or carrying from a book of original entry to a ledger
preponderance
a superiority or excess in number or quantity; a majority
professional courtesy
reduction or absence of fees to professional associates
receipts
amounts paid on patient accounts
receivables
total monies received on accounts
secured
a loan or line of credit that is backed by a pledge of payment and usually obtained using collateral
transaction
an exchange or transfer of goods, services, or funds
trustee
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
unsecured
a debt that is not protected by collateral
Benefits are determined
Idemnity schedules
Service benefit plans
Resource based relative value scale
Determination of the usual, customary, and reasonable fees
