"Financial Management in the Dental Office"
"System designed to maintain the financial records of a business"
What is Accounting
what is a charge slip referred to?
a super bill or routing slip
"Any charge, payment, or adjustment made to a financial account"
what is a transaction
" _____________is taking the place of checks and credit cards. "
What is a digital wallet?
what is a walkout statement?
What is "it's like a receipt, except that it shows the current account balance"
" Business expenses that change depending on the types of services needed"
What is Variable overhead
"Coordinating insurance coverage between two insurance carriers"
What is coordination of benefits (cob)
" Expenses and disbursements paid out from a business"
What is accounts payable
"person (or business) named on the check as the recipient of the amount shown"
What is a payee
"Dentist who provides treatment to the patient"
What is a Provider
"What two types of bookkeeping systems are used"
Accounts Payable and Accounts Receivable.
"Financial statement that maintains all account transactions"
What is a ledger
"Form of insurance that protects a business from employee theft"
fidelity bonding
"_______is a fixed amount of cash (usually $50 or less) that is maintained in small bills so that money will be available when a patient pays in cash"
What is A change fund, or petty cash fund?
"Fee that the dentist charges for a specific service"
What is Usual fees
"Itemized memorandum of funds to be deposited into the bank"
What is a deposit slip
Who is ultimately responsible for a patients bill in the dental office?
The patient
" i_________ the recording of the accounting process. "
What is Bookkeeping
"Draft or order drawn on a bank account for payment of a specified amount of money"
What is a check
"A standard form that provides an itemized statement submitted by an enrollee or a dentist requesting payment of benefits for dental services provided."
What is a claim form?
DAILY DOUBLE
" Manual bookkeeping system that keeps the transactions for the day"
What is a pegboard
"Publication that lists the procedure codes assigned to dental services for the processing of dental insurance"
What is current dental terminology (CDT)
"Accounting is the process of recording,"
What is accounting
what does NSF mean?
What is non-sufficient funds
"Dollar amount that each enrollee (or, cumulatively, a family for family coverage) must pay for certain covered services before insurance begins paying benefits."
What is a Deductible