MCBC Exam Billing and Collections with all Correct &
100% Verified Answers |Latest Version |Already
Graded A+
Effective patient billing begins with which of the following? ✔Correct Answer-Sound financial
policies
Clear explanations of patients' payment responsibilities
Which of the following apply to the importance of an effective financial policy? ✔Correct Answer-
Practices must clearly explain their financial policies so that patients understand their obligations.
Practices must clearly explain their financial policies so that administrative staff members know what
is expected of the patients.
A good financial policy is one that both staff members and patients can follow.
Which of the following are financial policies that should be explained to patients? ✔Correct
Answer-Acceptance of cash, checks, money orders, credit or debit cards, and online services such as
Pay Pal
Charity care or use of a sliding scale for patients with low income
Prepayment for services
Which form that is completed and signed by new patients presents a statement about patient
payment responsibility? ✔Correct Answer-Patient information form
Which of the following are payment procedures completed by patients? ✔Correct Answer-Forms
to arrange payments for professional services rendered
Preauthorized credit card forms
Sound financial policies and procedures that clearly explain the patient's responsibilities for payment
set the stage for which of the following? ✔Correct Answer-Sending patient statements
Following up on patient payments
Financial policies address which of the following scenarios? ✔Correct Answer-Payments not
covered by insurance
Financial arrangements
Payment plans
Which of the following apply to how nonsufficient funds (NSF) checks are handled by practices?
✔Correct Answer-The bank sends an NSF notice to the practice.
State laws govern the maximum amount of the fees that can be charged to the patient.
The practice adjusts the patient's account by adding the amount owed plus fees.
Which of the following are financial policies that should be explained to patients? ✔Correct
Answer-Collection of copayments, coinsurance, and deductibles
Financial arrangements for unpaid balances
Day of service discounts
After an encounter, the transactions for the visit (charges and payments) are entered in the _____.
✔Correct Answer-patient's ledger
, Which of the following practices will educate the patient about the billing process? ✔Correct
Answer-Mail brochures to the patient that cover billing.
Tell patients about the billing policies when they register.
Post signs in the reception area with billing information.
The summary of the financial transactions that occur each day is called the _____. ✔Correct
Answer-day sheet
Why would patients complete preauthorized credit card forms? ✔Correct Answer-for payment
purposes
What is the purpose of the day sheet? ✔Correct Answer-It summarizes the financial transactions
that occur each day.
Effective patient billing begins with which of the following? ✔Correct Answer-Sound financial
policies and procedures
Clearly explain patients' responsibility for payment
When billing is done manually rather than by computer, the patient statement form is called the
___________. ✔Correct Answer-patient ledger card
A nonsufficient funds (NSF) check is also known as which of the following? ✔Correct Answer-
Returned check
Bad check
Bounced check
Which of the following apply to patient statements? ✔Correct Answer-Statements must be
accurate.
Statements are mailed to patients for payment.
Statements must be easy for the patient to read.
Which of the following are steps after receiving the remittance advice? ✔Correct Answer-The
payer's payment for each reported procedure is entered.
The amount the patient owes for each reported procedure is calculated.
If any part of a charge must be written off, that amount is entered.
Which of the following is an example of a cycle billing? ✔Correct Answer-Patient bills are divided
into four groups so that 25 percent of the bills go out each week.
The practice management program (PMP) uses payment information to update the day sheet and
generate _____. ✔Correct Answer-Patient Statment
Sending one statement to the guarantor of a number of different accounts is called _____ billing.
✔Correct Answer-Guarantor
The retention schedule protects both the provider and the ______. ✔Correct Answer-patient
The storage method chosen and the means of destroying records when the retention period ends
must strictly adhere to the same confidentiality requirements as _____. ✔Correct Answer-patient
medical records
100% Verified Answers |Latest Version |Already
Graded A+
Effective patient billing begins with which of the following? ✔Correct Answer-Sound financial
policies
Clear explanations of patients' payment responsibilities
Which of the following apply to the importance of an effective financial policy? ✔Correct Answer-
Practices must clearly explain their financial policies so that patients understand their obligations.
Practices must clearly explain their financial policies so that administrative staff members know what
is expected of the patients.
A good financial policy is one that both staff members and patients can follow.
Which of the following are financial policies that should be explained to patients? ✔Correct
Answer-Acceptance of cash, checks, money orders, credit or debit cards, and online services such as
Pay Pal
Charity care or use of a sliding scale for patients with low income
Prepayment for services
Which form that is completed and signed by new patients presents a statement about patient
payment responsibility? ✔Correct Answer-Patient information form
Which of the following are payment procedures completed by patients? ✔Correct Answer-Forms
to arrange payments for professional services rendered
Preauthorized credit card forms
Sound financial policies and procedures that clearly explain the patient's responsibilities for payment
set the stage for which of the following? ✔Correct Answer-Sending patient statements
Following up on patient payments
Financial policies address which of the following scenarios? ✔Correct Answer-Payments not
covered by insurance
Financial arrangements
Payment plans
Which of the following apply to how nonsufficient funds (NSF) checks are handled by practices?
✔Correct Answer-The bank sends an NSF notice to the practice.
State laws govern the maximum amount of the fees that can be charged to the patient.
The practice adjusts the patient's account by adding the amount owed plus fees.
Which of the following are financial policies that should be explained to patients? ✔Correct
Answer-Collection of copayments, coinsurance, and deductibles
Financial arrangements for unpaid balances
Day of service discounts
After an encounter, the transactions for the visit (charges and payments) are entered in the _____.
✔Correct Answer-patient's ledger
, Which of the following practices will educate the patient about the billing process? ✔Correct
Answer-Mail brochures to the patient that cover billing.
Tell patients about the billing policies when they register.
Post signs in the reception area with billing information.
The summary of the financial transactions that occur each day is called the _____. ✔Correct
Answer-day sheet
Why would patients complete preauthorized credit card forms? ✔Correct Answer-for payment
purposes
What is the purpose of the day sheet? ✔Correct Answer-It summarizes the financial transactions
that occur each day.
Effective patient billing begins with which of the following? ✔Correct Answer-Sound financial
policies and procedures
Clearly explain patients' responsibility for payment
When billing is done manually rather than by computer, the patient statement form is called the
___________. ✔Correct Answer-patient ledger card
A nonsufficient funds (NSF) check is also known as which of the following? ✔Correct Answer-
Returned check
Bad check
Bounced check
Which of the following apply to patient statements? ✔Correct Answer-Statements must be
accurate.
Statements are mailed to patients for payment.
Statements must be easy for the patient to read.
Which of the following are steps after receiving the remittance advice? ✔Correct Answer-The
payer's payment for each reported procedure is entered.
The amount the patient owes for each reported procedure is calculated.
If any part of a charge must be written off, that amount is entered.
Which of the following is an example of a cycle billing? ✔Correct Answer-Patient bills are divided
into four groups so that 25 percent of the bills go out each week.
The practice management program (PMP) uses payment information to update the day sheet and
generate _____. ✔Correct Answer-Patient Statment
Sending one statement to the guarantor of a number of different accounts is called _____ billing.
✔Correct Answer-Guarantor
The retention schedule protects both the provider and the ______. ✔Correct Answer-patient
The storage method chosen and the means of destroying records when the retention period ends
must strictly adhere to the same confidentiality requirements as _____. ✔Correct Answer-patient
medical records
