Ch 29 Preparing Insurance Claims and Posting Payments

Each transaction is recorded in two accounts

Money paid by the patient or insurance carrier

software used in medical practice for finanacial and administrative operations

Discounts must generally be authorized by the

A professional courtesy discount is an example of a(n

Bookkeeping strategy to confirm accuracy in debits and credits in ledger

system in past exclusively used to record financial transactions. 

 Difference between the debits and credits

Patients should be given a receipt:

sheet that gives the pt an idea of cost for a specific surgery or long-term treatment

Similar to a checkbook register

When using practice management software, procedures marked on encounter form should be coded:

When an entry is made on the day sheet, it is called

lists the procedures, with the respective codes, that were performed on the patient on that given visit.

All the outstanding accounts, amounts due to the office

holds recorded patient charges and receipts for the day

A fee for services rendered

Signed by outside company providing services to a medical office ensuring pt confidentiality

records amount of cash/checks,credit/debit card payments, deposits made, and any amounts not deposited

record of charges/services rendered, payments made by pt or the insurance carrier, and any adjustments.

The process of transferring information from one record to another

Reflects that amount paid is less than total due

Most financial accounting is based on the _____ method of bookkeeping

Analyzes financial transactions and prepares tax reports

The total accounts owed by the practice to suppliers and other service providers for regular business operating expenses

maintains records of accounts receivable and payable for a business.

Reflects that the amount paid is greater than was due, or the account is being paid in advance of service