PMJ exam 3 Question Correctly Answered.

Accounts Payable - correct answer Amounts to be paid in the future for goods or services already acquired amounts receivable - correct answer Amounts to be received in the future due to the sale of goods or services aging report - correct answer a report that lists the amount of money owed to the practice, organized by the amount of time the money has been owed Audit Report - correct answer A report that describes the auditor's opinion of the fairness of the financial statement presentations and the evidence gathered to support that opinion risk management - correct answer using strategies to reduce the amount of risk (the degree of likelihood that a person will become ill upon exposure to a toxin or pathogen). Proof of posting - correct answer A formula used to balance the daily pegboard bookkeeping system Pegboard system - correct answer A manual bookkeeping system that uses a day sheet to record all financial transactions for the date of service and maintains patient account balances by using physical cards. Accounting Equation - correct answer Assets = Liabilities + Owner's Equity fee for service - correct answer a system under which doctors and hospitals receive a payment for each service they provide capitation - correct answer System of payment used by managed care plans in which physicians and hospitals are paid a fixed, per capita amount for each patient enrolled over a stated period regardless of the type and number of services provided; reimbursement to the hospital on a per-member/per-month basis to cover costs for the members of the plan. provider - correct answer Job: assess, diagnose, and treat cllient for disease and/or injury; includes MDs, DOs, APNs, and PAs Refer to when: ex- client experiences change in vital signs Carrier (INSURANCE) - correct answer The insurance company or the one who agrees to pay the losses. A carrier may be organized as a company, either stock, mutual, or reciprocal, or as an Association or Underwriters. The birthday rule is used to determine the: - correct answer primary and secondary policyholders Primary Insurance - correct answer Any type of coverage that responds to a loss before all other coverage responds. Secondary Insurance - correct answer insurance that an individual has in addition to primary insurance Co-payment - correct answer a specific amount of money a patient pays for a particular service SNODENT - correct answer Systematized Nomenclature of Dentistry Systematized Nomenclature of dentistry - correct answer a system of descriptive dental codes for use in electronic dental records. - a set of clear, accurate terms created for use in electronic dental records. It is recognized by the American National Standards Institute (ANSI) as an ADA/ANSI standard. Pre-determination - correct answer to determine the pt's benefits and the maximum dollar amount that the ins company will pay. Often the 1st step of the ins verification process, it is completed prior to the first visit EOB (explanation of benefits) - correct answer Explanation of Benefits is a statement sent by a third-party payer to the patient to explain services provided, amounts billed, and payments made by health plans encounter form/superbill - correct answer a list of the procedures and charges for a patient's visit Gross Pay - correct answer the total amount of an employee's earnings before deductions are taken out net pay - correct answer Amount of income left after taxes and deductions have been taken out. FICA taxes - correct answer Based on the Federal Insurance Contributions Act; tax withheld from employees' paychecks and matched by employers for Social Security and Medicare. FUTA - correct answer Allows collection of taxes in order to fund state programs W-4 Form - correct answer Employee's Withholding Allowance Certificate that shows the employer how much tax to withhold from an employee's check W-2 form - correct answer Given to employees by the end of January; summarizes an employee's earnings and tax withholdings for the year