Question 1

The process of communicating the income and expenses of a business and its financial health is known as ________.

Accepted Answer

The answer of The process of communicating the income and...

Question 2

Charise was seen today for an ongoing infection. When she comes to the counter to check out, you tell her that the charge for today is $54. Charise takes her $260 paycheck out of her pocket and endorses it "Pay to the order of BWW Medical Associates," signs it "Charise Williams," and hands it to you. What should you do?

Accepted Answer

A)   Explain that office policy does not allow you to take third-party checks
B)   Accept and record the check and give Charise $206 in change
C)   Accept and record the check, but tell Charise that you cannot give her any change
D)   Ask Charise to wait while you call her employer to confirm that the check is good
E)   Tell Charise that she must pay cash for her visitF) None of the above
G) A) and B)

Question 3

A payment arrangement in which the physician decides a patient will be billed every month for the full amount owed and should make whatever payment is possible each month is a(n)  ____.

Accepted Answer

A)   mutual agreement
B)   written-contract agreement
C)   open-book account
D)   unilateral agreement
E)   hardship agreementF) A) and C)
G) All of the above

Question 4

The process of comparing the office financial records with the monthly statement from the bank is known as ____.

Accepted Answer

A)   journalizing
B)   reconciliation
C)   endorsement
D)   vouching
E)   certifyingF) A) and E)
G) B) and C)

Question 5

If your medical practice does not have an authorization device for credit card payment, ____.

Accepted Answer

A)   omit this step completely if you have seen the patient before
B)   it is sufficient to imprint the credit card voucher with the patient's credit card
C)   call the credit card company for authorization
D)   insist that the patient pay by cash or check
E)   ask the patient for verification that the payment will go throughF) A) and D)
G) A) and E)

Question 6

Which of the following is not an advantage of using a computerized bookkeeping system?

Accepted Answer

A)   Built-in tax tables calculate tax liabilities.
B)   The computer performs repetitive tasks.
C)   The computer performs mathematical calculations.
D)   The bookkeeping system is available even if the power goes out.
E)   The computer produces reports automatically.F) All of the above
G) A) and E)

Question 7

An endorsement that consists simply of the payee's signature is a ____.

Accepted Answer

A)   restrictive endorsement
B)   qualified endorsement
C)   blank endorsement
D)   mechanical endorsement
E)   special endorsementF) A) and B)
G) B) and D)

Question 8

Which type of check is usually used for payroll in the medical office?

Accepted Answer

A)   Voucher
B)   Limited
C)   Counter
D)   Cashier's
E)   Traveler'sF) B) and D)
G) All of the above

Question 9

Which of the following is not a common type of endorsement?

Accepted Answer

A)   Restrictive endorsement
B)   Qualified endorsement
C)   Blank endorsement
D)   Mechanical endorsement
E)   Special endorsementF) A) and B)
G) B) and E)

Question 10

Another term for a write-it-once system is ____ system.

Accepted Answer

A)   voucher
B)   electronic
C)   journalizing
D)   third-party
E)   pegboardF) D) and E)
G) A) and B)

Question 11

Criteria for hardship cases include patients who ____.

Accepted Answer

A)   refuse to pay the balance they owe
B)   may be poor, underinsured, or elderly and on a limited income
C)   have moved without leaving a forwarding address
D)   have not received an invoice
E)   receive professional courtesy from the medical officeF) A) and B)
G) D) and E)

Question 12

A(n) ________ check is a payer's check written and signed by the payer; the bank withdraws the money from the payer's account and guarantees that the check will be paid when submitted.

Accepted Answer

The answer of A(n) ________ check is a payer's check...

Question 13

Adrian is a patient whose parents were killed in a skiing accident a few months ago. Adrian was involved in an automobile accident this morning. He refused ambulance transport and a friend brought him to your office because he needed only minor wound care. He turned 21 last week, so he is legally an adult. He tells you he has no insurance and doesn't know how he will pay for his care. Adrian might be a candidate for ____.

Accepted Answer

A)   Medicaid
B)   Medicare
C)   a hardship case
D)   a collection agency
E)   county assistanceF) A) and B)
G) A) and C)

Question 14

What are business checks with stubs attached called?

Accepted Answer

A)   Counter checks
B)   Voucher checks
C)   Limited checks
D)   Traveler's checks
E)   Certified checksF) B) and E)
G) B) and D)

Question 15

According to the Equal Credit Opportunity Act, how much will a practice have to pay if a credit applicant joins and wins a class action lawsuit against the practice?

Accepted Answer

A)   $100,000
B)   $150,000
C)   $250,000
D)   1/4% of the practice's net worth
E)   up to $500,000 or 1% of the practice's net worthF) None of the above
G) B) and E)

Question 16

A superbill ____.

Accepted Answer

A)   includes the charges and procedure codes for services rendered on that day
B)   is the original record of the doctor's services and charges for those services
C)   bills each patient only once a month but spreads the work of billing over the month
D)   is a signed agreement between the physician and the patient for payment
E)   consists of a copy of the patient's ledger card that is mailed to the patientF) C) and D)
G) B) and E)

Question 17

An account that is open to charges made occasionally as needed is called a(n)  ____.

Accepted Answer

A)   single-entry account
B)   open-book account
C)   account payable
D)   written-contract account
E)   collection accountF) C) and D)
G) A) and B)

Question 18

Which of the following checks are preprinted and might be used by a practitioner to pay for out-of-town conference expenses?

Accepted Answer

A)   Counter
B)   Certified
C)   Voucher
D)   Traveler's
E)   LimitedF) D) and E)
G) A) and C)

Question 19

A(n) ________ is a kind of certificate of guaranteed payment that can be purchased from banks and post offices and from some convenience stores.

Accepted Answer

The answer of A(n) ________ is a kind of certificate...

Question 20

The portion of a company's assets that are paid for is the company's ________.

Accepted Answer

The answer of The portion of a company's assets that...

Exam 20: Patient Collections and Financial Management

Which of the following checks are preprinted and might be used by a practitioner to pay for out-of-town conference expenses?

Correct Answer
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Correct Answer
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Criteria for hardship cases include patients who ____.

Correct Answer
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A(n) ________ check is a payer's check written and signed by the payer; the bank withdraws the money from the payer's account and guarantees that the check will be paid when submitted.

Correct Answer
verified

The process of communicating the income and expenses of a business and its financial health is known as ________.

Correct Answer
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According to the Equal Credit Opportunity Act, how much will a practice have to pay if a credit applicant joins and wins a class action lawsuit against the practice?

Correct Answer
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Which of the following is not a common type of endorsement?

Correct Answer
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Another term for a write-it-once system is ____ system.

Correct Answer
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A superbill ____.

Correct Answer
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A(n) ________ is a kind of certificate of guaranteed payment that can be purchased from banks and post offices and from some convenience stores.

Correct Answer
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Which of the following is not an advantage of using a computerized bookkeeping system?

Correct Answer
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The portion of a company's assets that are paid for is the company's ________.

Correct Answer
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An account that is open to charges made occasionally as needed is called a(n) ____.

Correct Answer
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If your medical practice does not have an authorization device for credit card payment, ____.

Correct Answer
verified

The process of comparing the office financial records with the monthly statement from the bank is known as ____.

Correct Answer
verified

Which type of check is usually used for payroll in the medical office?

Correct Answer
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What are business checks with stubs attached called?

Correct Answer
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An endorsement that consists simply of the payee's signature is a ____.

Correct Answer
verified

A payment arrangement in which the physician decides a patient will be billed every month for the full amount owed and should make whatever payment is possible each month is a(n) ____.

Correct Answer
verified

Exam 20: Patient Collections and Financial Management

Which of the following checks are preprinted and might be used by a practitioner to pay for out-of-town conference expenses?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Criteria for hardship cases include patients who ____.

Correct AnswerverifiedShow Answer

A(n) ________ check is a payer's check written and signed by the payer; the bank withdraws the money from the payer's account and guarantees that the check will be paid when submitted.

Correct AnswerverifiedShow Answer

The process of communicating the income and expenses of a business and its financial health is known as ________.

Correct AnswerverifiedShow Answer

According to the Equal Credit Opportunity Act, how much will a practice have to pay if a credit applicant joins and wins a class action lawsuit against the practice?

Correct AnswerverifiedShow Answer

Which of the following is not a common type of endorsement?

Correct AnswerverifiedShow Answer

Another term for a write-it-once system is ____ system.

Correct AnswerverifiedShow Answer

A superbill ____.

Correct AnswerverifiedShow Answer

A(n) ________ is a kind of certificate of guaranteed payment that can be purchased from banks and post offices and from some convenience stores.

Correct AnswerverifiedShow Answer

Which of the following is not an advantage of using a computerized bookkeeping system?

Correct AnswerverifiedShow Answer

The portion of a company's assets that are paid for is the company's ________.

Correct AnswerverifiedShow Answer

An account that is open to charges made occasionally as needed is called a(n) ____.

Correct AnswerverifiedShow Answer

If your medical practice does not have an authorization device for credit card payment, ____.

Correct AnswerverifiedShow Answer

The process of comparing the office financial records with the monthly statement from the bank is known as ____.

Correct AnswerverifiedShow Answer

Which type of check is usually used for payroll in the medical office?

Correct AnswerverifiedShow Answer

What are business checks with stubs attached called?

Correct AnswerverifiedShow Answer

An endorsement that consists simply of the payee's signature is a ____.

Correct AnswerverifiedShow Answer

A payment arrangement in which the physician decides a patient will be billed every month for the full amount owed and should make whatever payment is possible each month is a(n) ____.

Correct AnswerverifiedShow Answer

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