Common terms for Collector I

Question 1

What does ABN stand for?

Answer 1

Advanced Beneficiary Notice-A form telling the patient that a service may not be covered by Medicare and they will have to pay out of pocket.

Question 2

What does COB stand for?

Answer 2

Coordination of Benefits

Question 3

What does the group code CO stand for?

Answer 3

Contractual Adjustment- An amount that must be discounted or written off by the provider.

Question 4

What does EOB stand for?

Answer 4

Explanation of Benefits (See also remit flashcard)

Question 5

What does remit stand for?

Answer 5

Remittance Advice-A receipt from the insurance stating what they paid and what adjustments must be made by the provider.

Question 6

What does DRG stand for?

Answer 6

Diagnosis Related Group-A category that’s used to classify patient services in a way that it’s paid at a fixed rate rather than separately on the claim form.

Question 7

What does DPD stand for?

Answer 7

Detailed Procedure Document- Client specific processes on resolving patient accounts. Can also be named “Playbook”.

Question 8

What are HCPCS?

Answer 8

Healthcare codes that is used to charge for services. It’s what HIM turn patient procedures into after the visit. 5 digits and alphanumeric.

Question 9

What are CPT codes?

Answer 9

Similar to HCPCS except that they are all numeric but still 5 digits.

Question 10

What does PHI stand for?

Answer 10

Protected Health Information.

Question 11

What is HIPPA?

Answer 11

A data privacy and security provisions that safeguards medical information such as PHI.