Managing Medical Practice Finances
money owed to the practice
what is accounts receivable?
CPT
Current Procedural Terminology manual
Healthcare for elderly, disabled, and those with ESRD.
What is Medicare?
Bills sent to patients?
What is a Patient Statement
5 digit alphanumeric coding system designated for specific services and equipment?
HCPCS (Healthcare Common Procedure Coding System)
a means of keeping track of charges for services and payments made at the time of the patient visit, that may include diagnosis and procedure codes
What is Charge Slip, Encounter Form, Superbill
ICD-10
Internaltional Classification of Diseases; 10th edition
A traditional insurance plan that provides payment, either to the provider or the patient for each medical service provided is?
Fee-For-Service Plan
The process of determining how long an account balance has been outstanding?
Account Aging
To determine whether a patient has health insurance coverage and will be able to receive health insurance benefits during a proposed time period is to?
What is Verify Eligibility?
a list of the charges for the various procedures a provider performs in the office
Fee Schedule
codes that begin with a three character alphanumeric followed by a decimal point are?
ICD-10 codes
Co-Payment
The Federal Trade Commission administers this act that requires creditors to provide applicants with a form, disclosing a clear and obvious way all finance charges and terms of the extended credit will be paid.
Federal Truth in Lending Act
a universal claim form
What is the CMS-1500?
A record of charges and payments for each patient is kept and is called the _______ _______ ______.
Patient Account Ledger
99201 is an example of what type of code?
CPT; E & M-Evaluation and Management
Term that indicates the patient's request that the insurance carrier pay the provider directly is?
What is Assignment or Assignment of Benefits?
When a bank does not honor a check to be deposited because the account does not have sufficient funds it is marked?
NSF (Non-sufficient Funds)
Instead of asking patients to sign every insurance claim, this is abbreviated on the CMS 1500 form indicating the office has patient's signature authorizing submission of claim and assignment of benefits.
SOF (Signature on File)
A change to the patient account; adding to or subtracting from their total balance, that is neither a charge for services nor a payment is an?
Adjustment
Third party payors make payments based on care that is reasonable and necessary for the patient based on evidence-based clinical standards of care.
What is Medical Necessity?
These plans aim to control health care costs while improving preventative care.
Managed Care Plans
A company that collects debts for other companies.
Collection Agency
a daily journal that keeps a running tally of each transaction for that day is a?
What is a Day Sheet?