How do money market accounts compare with checking accounts

Checks must usually be written for a higher minimum amount

What is an advantage of a computer billing system related to posting payments

Record of payments appear in ledger, day sheet etc.

A group of lab test that are done together

What is the major disadvantage of the singe entry bookkeeping system

There is no method to crosscheck for accuracy of records

What precautions should be taken when accepting a credit card for payment by a patient

Name of CC should be the same as person presenting the card

Which codes are necessary in order to submit insurance claims

Both Procedure and Diagnosis codes

Which type of anesthesia does not receive a separate code

Local anesthesia administered by infiltration

Which is an example of upcoding

When pt goes to outside lab and lab bills insurance

Which equation is the correct accounting principle

Assets = liabilities + owner's equity

What is the safest method to pay for an expensive item to guarantee check will clear the bank

Cashier's check issued from bank

Ways patients can make payments on their account

Online payments made by credit/debit through office website

In bookkeeping, what is an example of a credit

Discount give for payment in full at time of visit

How is an established patient defined

A patient who has been seen in the past three years

How does the classification system become a coding system

Names are replaced by numbers and letters

What does it mean to close the day

No add'l AR transactions can be made using that date

When is income calculated in the cash basis of accounting

At the time a patients bill is paid

How will the medical office usually utilize a savings account

To keep a reserve fund of money for unanticipated expenses

What is the function of a daily journal (day sheet) in a bookkeeping system

To keep a chronological record of transactions

How does the medical assistant know what the usual charge is for a procedure

Charge appears in computer memory when procedure is selected

Which factor is used to calculate payment for anesthesia services

The type of facility at which the services were provided

Which type of check should the MA accept from patient

Check for the outstanding amount

Bookkeeping sys is every transaction posted into 2 different records, once as credit & debit

Double-entry bookkeeping system

studbud

MED 126 Chapters 46 & 47 Exam

50 termsStudBud Administration202 plays

Financial Admin - Wilsonville

Flashcards50 cardsFPractice quizPHost liveL

Questions 50

Answers

1
What is the term used to describe money that is owed to the medical office
Cash due accounts
Accounts receivable
Accounts payable
Revenue accounts
2
How do money market accounts compare with checking accounts
Checks must usually be written for a higher minimum amount
Unlimited checks can be written on either accounts
Money market accounts usually don't require a min balance
They usually pay a lower rate of interest
3
How many digit modifier would be added for a procedure that was extensive or unusual
Three-letter modifier
Two-letter modifier
Two-digit modifier
Three-digit modifier
4
What term is used to describe the bills that the practice has for office & equipment rental
Accounts payable
Accrual accounts
Outgoing accounts
Accounts receivable
5
What is the format of most CPT codes
Six-digits
Five-digits
Three-digits
Four-digits
6
What coding system used by Medicare & Medicaid for services and equipment not usually covered
DRG
HCPCS Level II
ICD-10-CM
CPT
7
What is an advantage of a computer billing system related to posting payments
Record of payments appear in ledger, day sheet etc.
Easier way to verify that payments have been posted
Using a computer prevents human errors
Contains financial activity for the month
8
Debit adjustment
Discount for cash payment
Discount to an insurance company
Check returned by the bank NSF
Professional courtesy
9
What is a panel
5 codes that are used together for certain diagnostic tests
A radiologic test that is done with a pt lying on their back
A group of lab test that are done together
A group of individuals who review insurance claims
10
What is the major disadvantage of the singe entry bookkeeping system
It requires extensive training to perform correctly
It req's more record keeping than other bookkeeping systems
There is no method to crosscheck for accuracy of records
It is not commonly used, so it is unfamiliar to most people
11
Patient pays $10 on account. What entry is this
Payment
Ledger
Adjustment
Charge
12
Professional liability (malpractice) insurance comes out of which account
The doctor's personal checking account
Office checking account
Office money market account
Office savings account
13
What precautions should be taken when accepting a credit card for payment by a patient
Must present a 2nd credit card with same name
Pt should verbally verify the last 4 #'s on credit card
Name of CC should be the same as person presenting the card
Signed signature card should be kept on file at office
14
How often should the medical office purchase new code books or computer code sets
Annually
Every 2 years
Every time a new CPT book comes out
Every 6 months
15
Which section of the CPT book links reimbursements for the exam and amount of skill required
Initial consultation
Evaluation & management
Primary care
Diagnosis establishment
16
What is included in the code for surgery
Local or topical anesthesia
The six-month postoperative checkup
Care for any complications that occur because of surgery
All are included
17
Who publishes the CPT manual for procedure codes
World Health Organization
The U.S. Department of Health
American Medical Association
Various publishers
18
Which of the following types of history focuses mainly on the chief complaint
Detailed history
Comprehensive history
Problem focused history
Expanded problem-focused history
19
Which codes are necessary in order to submit insurance claims
Procedure codes only
Both Procedure and Diagnosis codes
Diagnosis codes only
Codes are optional when submitting insurance claims
20
Which of the following is a key factor determining the level of service for an E/M code
The extent of the history
Coordination of care
the amount of time spent with the patient
The nature of the patient's problem
21
Which type of anesthesia does not receive a separate code
Local anesthesia administered by infiltration
Epidural or spinal anesthesia
Anesthesia by IV infusion
Anesthesia administered by inhalation
22
In the index of the CPT manual, which of the following may modifying terms identify
Cross reference
Time allotted
Code range
Anatomic location
23
Which organization compiled the 1st disease classification system in the United States
American College of Surgeons
American Board of Internists
Department of Health and Human Services
American Medical Association
24
Which of the following diagnostic test is/are included in the Radiology section of the CPT book
Standard radiologic procedures
Magnetic resonance imaging
All are used
Computed tomography
25
Which is an example of upcoding
When pt goes to outside lab and lab bills insurance
Offices bills for separate test when could bill under panel
A medical office bills for performing a UA in the office
A medical office charges for venipuncture in the office.
26
Which equation is the correct accounting principle
Assets = liabilities + owner's equity
Owner's equity = assets + liabilities
None of these
Liabilities = owner's equity + assests
27
What is the safest method to pay for an expensive item to guarantee check will clear the bank
Write a check from practices checking account
Check issued from office money market account
Issue a check with an ABA number
Cashier's check issued from bank
28
Ways patients can make payments on their account
Third-party checks
Payments made online from an Internet bank account
Checks from the insurance company
Online payments made by credit/debit through office website
29
In bookkeeping, what is an example of a credit
A check returned by the bank is added to patients account
A patient is charged for an office visit
A patient's bill is sent to the insurance company
Discount give for payment in full at time of visit
30
How is an established patient defined
A patient who has been seen in the past three years
A patient who has made payments to the facility
A patient who's medical record is still active in the system
A patient who has been seen in the past two years
31
How does the classification system become a coding system
Names are replaced by numbers and letters
Letters in the names of items are rearranged
Names are shortened to abbreviations
Names are arranged in alphabetic order
32
In an anesthesiologists practice which type of modifier is used to indicate patient's condition
Conditional modifiers
Physical status modifiers
Standard modifiers
Complexity modifiers
33
What does it mean to close the day
A manual day sheet can be destroyed
The MA has posted all charges & insurance payments
All patients have been seen and staff can go home
No add'l AR transactions can be made using that date
34
When is income calculated in the cash basis of accounting
When a bill is sent to the patient
When a charge is posted to a patients account
At the end of the month in which services occurred.
At the time a patients bill is paid
35
How will the medical office usually utilize a savings account
To hold funds so that checks can be written for ordinary exp
To keep a reserve fund of money for unanticipated expenses
To pay the salaries for employees of the medical practice
To hold funds so that checks can be written for ordinary exp
36
What is the function of a daily journal (day sheet) in a bookkeeping system
To keep a record of cumulative financial activities
To keep a record of transactions related to a single patient
To record financial activities for the month
To keep a chronological record of transactions
37
Which section of the CPT book would you code an office visit from
Radiology
Evaluation & management
Surgery
Medicine
38
How does the medical assistant know what the usual charge is for a procedure
Fee is determined by the insurance company
Charge appears in computer memory when procedure is selected
Charge is not set until payment is rec'd from insurance comp
The doctor always fills in the amount
39
What type of record is used to keep track of all the charges & payments for each individual pt
Patient ledger
Daily journal
Patient statement
Transaction entry record
40
Which factor is used to calculate payment for anesthesia services
The base value of the anesthesia code
The type of facility at which the services were provided
The type of provider who provided the services
The patient's diagnosis
41
What do CPT Category II and Category III codes consist of
Four digits and one letter
Five letters
Five digits and two letters
Five digits
42
During a routine examination and ECG is performed how should this be coded
Only if the physician interprets the ECG
In the code for the office visit
As a separate visit
As a separate procedure
43
What is the first section of the CPT manual
Evaluation & Management
Surgery
Anesthesia
Radiology
44
Which type of check should the MA accept from patient
Check for the outstanding amount
3rd party check
Check with "payment in full" to pay for copayment
Post-dated check
45
At what interval are charges and payments usually posted to patient accounts
Hourly
Monthly
Weekly
Daily
46
Bookkeeping sys is every transaction posted into 2 different records, once as credit & debit
Pegboard bookkeeping system
Single-entry bookkeeping system
Double-entry bookkeeping system
Medical office computer billing bookkeeping system
47
For which reason(s) are procedure codes used
To identify and/or justify medical services a patient rec'd
To collect statistics about effectiveness of procedures
All are correct
To classify the type of care given to patients
48
If the pt has multiple problems & is seriously ill, where should it be coded under
Low-complexity
High-complexity
Moderate-complexity
49
What is another name the itemized charge slip commonly used in the medical office
Receipt
Register slip
CMS-1500 form
Superbill
50
Who is responsible to determine the type or level of service provided to the patient
Whichever staff member is at the desk when patient arrives
Physician or other provider
Office manager
Medical assistant

MED 126 Chapters 46 & 47 Exam Flashcards | StudBud