Vocabulary
Hostile and aggressive
What is belligerent?
Another name for remittance advice.
What is Explanation of Benefits (EOB)?
Use a marker or tool designed for this purpose to confirm its authenticity.
What is counterfeit?
Refers to the money that healthcare facility owes others
What is accounts payable?
blank, restrictive, special, and qualified
What are four principal types of endorsements?
The misuse of funds for personal gain.
What is embezzlement?
Where the fees for services rendered come from?
What is a fee schedule?
Allows payment with a phone or other device linked to a credit/debit card.
What is countless payment systems?
For this employee, net paycheck will always be the same
What is a salaried employee?
When acct is opened at a bank, the acct signer is required to provide handwritten signature on this
What is a signature card?
An oath or a swear word.
What is expletive?
This should always be posted to the patient acct record at the same time as the payment.
What is a credit adjustment?
-both safe and convenient
-transactions are completed quickly.
-if stolen or lost, can be canceled quickly with minimum liability.
What are advantages of using debit cards?
For this employee, the net paycheck will depend on how many hours the person worked during a pay period
What is an hourly employee?
-Loss of check
-Disagreement about a purchase
-Disagreement about a payment
What are reasons for stop payment?
A document guaranteeing payment of a specific amount of money to the payer named on the document.
What is negotiable instrument?
Payments made by an insurance company.
What are 3rd party payments?
-make sure person presenting card is who it was issued to
-ask for state issued id
-compare name and signature to the one on credit card
What are precautions to take when accepting credit/debit card as form of payment?
This is used to determine how much is withheld for taxes.
What is the gross amount?
-check acct balance
-transf funds between accts in same bank
-pay bills electronically
determine whether a check has cleared the bank
download acct info
What are online banking services?
A manual bookkeeping system that uses a day sheet to record all financial transactions for the date of service and maintains patient acct balances by using physical ledger cards.
What is a pegboard system?
-Name and address of the guarantor
-insurance id info
-home/work/cell numbers
-any special instructions for billing
-emergency or alt contact info
What is the info that should be included on a patient ledger form?
-Inspect check carefully.
-Do not accept with corrections on it.
-Ask for state issued pic ID
-Compare signatures.
-Do not accept from 3rd party.
What is the policy for accepting checks?
-office space
-utilities
-medical supplies
-office supplies
-cleaning supplies/services
What are what vendors provide?
-personal check
-cashier's check
-money order
-business check
voucher check
What are the types of negotiable instruments?