Chapter 2: Bookkeeping Terms Flashcards
1
Q
What does the Charges increase?
A
The balance on the patient’s account.
2
Q
What is another name for Charges?
A
Debits.
3
Q
Does Charges also include a description of the services provided, usually with the procedure codes?
A
Yes.
4
Q
What does Payments decrease?
A
The balance on the patient’s account.
5
Q
What is another name for Payments?
A
Credits.
6
Q
What are Adjustments?
A
Write-offs or discounts that decrease the balance on the patient’s account.
7
Q
What is another name for Adjustments?
A
Credits.
8
Q
What is the Outstanding Balance?
A
The difference between the charges and payments.
9
Q
What is any outstanding balance on the patient account?
A
The amount that remains unpaid.
10
Q
What is Posting?
A
The entering of charges, payments and adjustments into a patient account.
