Lesson 12
Which of the following refers to all the transactions on the financial side of the medical practice?
A. Installment plans
B. Revenue cycle
C. Price transparency
D. Adjustments
B. Revenue cycle
What is a document sent to the provider by the third-party payer to explain how the reimbursements were determined?
A. Batch
B. Remittance advice
C. Encounter form
D. Explanation of benefits
B. Remittance advice
What is often called “the language of business?”
A. Bookkeeping
B. Owner’s equity
C. Accounts payable
D. Accounting
D. Accounting
What does it mean for a practice manager to maintain objectivity?
A. The practice manager knows when to delegate tasks to others.
B. The practice manager conveys their expectations to the staff.
C. The practice manager sets an example through their behavior and not their words.
D. The practice manager treats all staff members equally and fairly.
D. The practice manager treats all staff members equally and fairly.
When posting charges on a patient account, including which of the following provides a description of the services provided?
A. CPT codes
B. ICD-10-CM codes
C. The outstanding balance
D. The name of the insurance company
A. CPT codes
Which of the following identifies the patient in the practice management system?
A. Patient account number
B. Posting
C. Accounts receivable
D. Payments
A. Patient account number
What is the unique identifier assigned to every health care provider required on all medical claims?
A. CMS-1500
B. NUCC
C. DOS
D. NPI
D. NPI
What does a medical office keep on hand for small, incidental purchases?
A. Assets
B. Checking account
C. Petty cash fund
D. Invoice
C. Petty cash fund
What should always be documented when an employee’s negative performance is identified during a performance evaluation?
A. Job transfer opportunities
B. Actions to be taken to correct the problem
C. Adjustments to the employee’s vacation schedule
D. Feedback from other staff members
B. Actions to be taken to correct the problem
What is the total amount of money that a business receives from its normal operations over a period of time?
A. Cash flow
B. Accounts payable
C. Unpaid balances
D. Revenue
D. Revenue
Which of the following is true about collecting copayments?
A. Copayments should be billed to the patient after the insurance claim has been submitted.
B. Copayments should be collected from the patient following the visit.
C. Copayments should be billed to the insurance company.
D. Copayments should be collected from the patient at check-in.
D. Copayments should be collected from the patient at check-in.
What is a feature of electronic claims that allows the provider to verify that the third-party payer properly received the claim?
A. Cycle billing
B. Electronic data interchange
C. Turnaround time
D. Electronic claims tracking
D. Electronic claims tracking
What does it mean when the bank returns a patient’s check because of nonsufficient funds?
A. The check was postdated.
B. The written amount does not match the numeric amount.
C. The check was not signed by the patient.
D. There was not enough money in the patient’s account to cover the amount of the check.
D. There was not enough money in the patient’s account to cover the amount of the check.
Which of the following makes the medical practice less vulnerable to litigation?
A. Practicing risk management.
B. Requiring probationary periods.
C. Maintaining employee records.
D. Offering fringe benefits.
A. Practicing risk management.
What is a hub that collects and edits medical claims and then distributes them electronically to the appropriate payers for processing?
A. Electronic data interchange
B. National Uniform Claim Committee
C. Claims submission
D. Clearinghouse
D. Clearinghouse
Which of these is included in accounts payable?
A. Outstanding balances on patient accounts.
B. The amounts owed for medical and office supplies.
C. Charges.
D. Payments received from patients.
B. The amounts owed for medical and office supplies.
Which of the following is not done when discharging a patient from the practice?
A. Establish a date for when the termination will become effective.
B. State the reason for the dismissal.
C. Notify the patient by phone.
D. Document the dismissal in the patient’s medical record.
C. Notify the patient by phone.
A professional courtesy discount is identified in financial records as what?
A. A write-off
B. An asset
C. A withdrawal
D. A third-party check
A. A write-off
Which of the following would use an agenda?
A. HIPAA compliance
B. Conflict management
C. Staff meeting
D. Performance evaluation
C. Staff meeting
Which of the following outlines what a debt collector may or may not do when pursuing payment of past-due accounts?
A. Truth in Lending Act
B. Statute of limitation
C. Regulation Z
D. Fair Debt Collection Practices Act
D. Fair Debt Collection Practices Act
Which of the following will reduce an existing balance?
A. Charge
B. Credit
C. Debit
D. Balance
B. Credit
When a patient dies, where is the final statement of outstanding charges sent?
A. Bankruptcy court
B. Nursing home
C. Executor of the estate
D. The balance is forgiven.
C. Executor of the estate
Which of the following actions can improve patient collections?
A. Do not accept checks.
B. Increase the use of write-offs for bad debts.
C. Do not accept cash.
D. Accept payments via credit and debit cards.
D. Accept payments via credit and debit cards.
Which of these would be an example of a hostile work environment?
A. Finding confidential medical information in unsecured areas.
B. Having to carry the load of underperformers in the office.
C. Working with someone who never offers to stay late.
D. Being publicly humiliated by a coworker.
D. Being publicly humiliated by a coworker.
Which of the following is true about a medical office’s policy and procedure manual?
A. Small offices do not need to have an office manual.
B. The office manual should be distributed to all employees.
C. Social media policies should not be included in the manual.
D. The office manual should not require updating.
B. The office manual should be distributed to all employees.