Exam (elaborations)
Bookkeeping definitions questions well answered to pass
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Bookkeeping definitions questions well answered to pass
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Bookkeeping definitionsaccounts payable - correct answer ✔✔The management of debit incurred and not yet paid; money the
provider owes to others.
accounts receivable - correct answer ✔✔Money that is expected but has not yet been received
adjustments - correct answer ✔✔Credits posted to the patient account record when the provider's fee
exceeds the amount allowed stated on the EOB
bookkeeping - correct answer ✔✔The recording of financial transactions in the patient account records
collections - correct answer ✔✔The process of using all legal resources available to collect payment for
past due patient account balances
credit - correct answer ✔✔A bookkeeping entry that increases accounts receivable; money owed to the
provider; money counted as received by the provider.
guarantor - correct answer ✔✔The individual who subscribes to an insurance plan and accepts financial
responsibility for the patient; responsibility for payment
invoice - correct answer ✔✔A list of products or services provided to the healthcare facility for payment;
billing statement that lists the amount owed for goods or services provided
medically indigent - correct answer ✔✔Patients that are in need of medical care, yet cannot pay
non-sufficient funds check (NSF) - correct answer ✔✔When a patient pays a check without having
sufficient funds in the bank to cover the payment so it is returned to the provider unpaid
balance - correct answer ✔✔Amount available in an account for withdrawl or use; total of the charges
and credits
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