Describe the following:
1. When evaluating a patient’s billing record, identify all the components of a patient billing record (VII.C.5).
2. Explain the patient’s financial obligation for services rendered and what this means to you as a healthcare professional? (VII.C.6)
3. Define the following terms related to bookkeeping in the medical office and provide an example for each: (VII.C.1 a, VII.C.1b, VII.C.1e)
a. Charges
b. Payments
c. Adjustments
4. Describe the difference between accounts payable and accounts receivable. Include specific examples of each in your discussion. (VII.C. 1c, VII.C.1d)
5. Within the ambulatory healthcare setting, describe the banking procedures that related to daily activity (VII.C.2)
6. When completing basic bookkeeping computations, there are certain adjustments you might make to a specific account. Describe four types of adjustments you might make (VII.C.4a, VII.C.4b, VII.C.4c, VII.C.4d):
a. Non-sufficient funds (NSF)
b. Collection agency transactions
c. Credit balances
d. Third party
7. How can you ensure that errors are not made when these adjustments are recorded? (VII.C.4a-d)
8. Identify various payment options in a medical office, including debit cards, credit cards, cash, and checks.
a. Identify any precautions the office should take for accepting these sort of payments?(VII.C.3a-d)
