Chapter 26 MA320 Patient Accounts correctly answered to pass

Chapter 26 MA320 Patient Accountsaccount - correct answer Record all of transactions made on an individuals, financial record that list, debits credits and balance Account payable (A/P) - correct answer The total amount owed by the practice to the suppliers and other service providers for regular business, operating expenses, such as medical office, supplies and equipment, office, rental, space, utilities, (gas, and electric, water, telephone, and/or Internet services), and office staff salaries Accounts Receivable (A/R) - correct answer All the outstanding accounts (amount due to the office); a reporting system to see who has not paid on their account. - correct answer The insurance company process of reviewing medical claims for necessary information before making the payment. Adjudication - correct answer Credit entry made on account to decrease a balance owed to the medical office; may be due to Insurance, professional discounts, write-offs, or to correct book-keeping errors Balance - correct answer The difference between debit and credit bookkeeper - correct answer One who records the account and transactions of a business charges - correct answer For services rendered credit - correct answer a payment subtracted from existing balance Credit balance - correct answer Occurs when the amount amount paid is greater than was due, or the account is being paid in advance of service provided