Finances

Question 1

Medicare part A

Answer 1

No cost hospital insurance for recipients over 65

Question 2

Medicare part B

Answer 2

Covers out patient treatment

Question 3

Medicare part C

Answer 3

Medicare advantage

Offers various managed care plans

Question 4

Medicare part D

Answer 4

Provides prescription drug coverage

Question 5

Medicaid

Answer 5

Federal and state governments help low income individuals by paying for medical services deemed absolutely necessary

Question 6

Tricare

Answer 6

Healthcare for active and retired military and their families

Question 7

CHAMPVA

Answer 7

Covers perminant injured vets who do not qualify for tricare

Question 8

Workers compensation

Answer 8

Medical expenses and lost income for workers injured on the job

Question 9

Master charge list

Answer 9

Fee schedule identifying how much can be charged for each service

Question 10

Relative value

Answer 10

Schedule that assigns unit value to a medical procedure to compare costs

Question 11

Accounts receivable

Answer 11

Money owed to the practice by a patient for services provided on credit

Question 12

Itemization

Answer 12

Bill for payer with detailed list of all procedures performed and products used during one visit for a particular patient

Question 13

A/P

Answer 13

Accounts payable

Unpaid bills practice owes to suppliers