Wk 9- Revenue and financial control 1

Question 1

total income earned by buisness over a given period of time

Answer 1

revenue

Question 2

where funding for vet hosp or practice comes from

Answer 2

directly from personal assets of practice owners

Question 3

what is usually not displayed on wall displays of practice

Answer 3

prices for services

Question 4

when are standard med record forms completed by clients

Answer 4

first visit to practice: covers payment methods accepted and payment policies

Question 5

what is accounts recievable

Answer 5

amounts owed to practice

Question 6

traditionally the most common forms of payment were

Answer 6

currency and checks (currency becoming least common)

Question 6

traditionally the most common forms of payment were

Answer 6

currency and checks (currency becoming least common)

Question 7

biggest risk of accepting checks

Answer 7

checks written on accounts w insufficient funds (bounced checks)

Question 8

what are third party payers

Answer 8

pay all or portion of medical bills on behalf of client in return for reinbursment w fee

Question 9

mode of payment growing in popularity most quickly

Answer 9

credit cards

Question 10

how most pet insurance works

Answer 10

require animal owners pay the practice at time of service, they can then be reinbursed

Question 11

liabilities associated w pet ownershup (small animal) is typically covered under

liabilities of horse ownership?

Answer 11

homeowner policies

horse= equine insurance plans