Question 1

A double-entry bookkeeping system is based on the principle that the company's assets are equal to ____.

Accepted Answer

A)   capital minus its liabilities
B)   liabilities minus its capital
C)   assets plus its liabilities
D)   assets minus its liabilities
E)   capital plus its liabilitiesF) B) and D)
G) B) and C)

Question 2

The most appropriate way to determine which parent has consent ability and payment responsibility for a minor child is to ____.

Accepted Answer

A)   ask the parent who is with the child at the time of the appointment who has financial responsibility
B)   ask the parent who makes the appointment about financial responsibility before making the appointment
C)   check with the court system to see who was awarded custody
D)   assume that the patient who brings the child for treatment has consent ability and payment responsibility
E)   require a letter from one of the parents guaranteeing paymentF) A) and E)
G) A) and D)

Question 3

The ________ appears as a fraction on the upper edge of all printed checks and identifies the geographic area and specific bank on which the check is drawn.

Accepted Answer

ABA number...

Question 4

Mrs. Patterson brings her 17-year-old daughter Kelly in for a prenatal exam. When you inform Mrs. Patterson of the amount owed for today, she exclaims, "Oh, no! Kelly moved out last week and is staying with the rascal that did this to her. She can pay for her own care!" What should you do?

Accepted Answer

A)   Explain to Mrs. Patterson that she is still responsible because her daughter is a minor.
B)   Ask for legal evidence that Kelly is an emancipated minor.
C)   Require Kelly to pay the entire amount due.
D)   Call Kelly's father to see if he will pay the bill.
E)   Call Kelly's boyfriend and tell him that he is responsible for the bill.F) A) and C)
G) B) and D)

Question 5

The person who has financial responsibility for a patient is known as the ________.

Accepted Answer

The answer of The person who has financial responsibility for...

Question 6

To which of the following patients would a medical provider most likely render treatment as a professional courtesy?

Accepted Answer

A)   Cancer patients
B)   Elderly patients
C)   Children
D)   Other healthcare professionals
E)   Any patient who cannot payF) C) and E)
G) B) and D)

Question 7

Free treatment for ________ cases must be undertaken carefully and is given at the physician's discretion.

Accepted Answer

The answer of Free treatment for ________ cases must be...

Question 8

The process of keeping a daily log of the patient charges and payments received from patients each day is called ________.

Accepted Answer

The answer of The process of keeping a daily log...

Question 9

When the office manager or practitioner decides that an account is uncollectable, he or she will ____.

Accepted Answer

A)   send the account to a collection agency
B)   send the account to the state regulator's office
C)   send one last notice to the patient to pay the amount due
D)   adjust the amount due off the account
E)   ask the patient to come to the office to discuss optionsF) B) and D)
G) B) and C)

Question 10

You should not accept a(n) ________ check that is made out to the patient rather than to the practice unless it is from a health insurance company.

Accepted Answer

third-part...

Question 11

A type of check that states it is void after a certain time limit is a ____ check.

Accepted Answer

A)   voucher
B)   cashier's
C)   counter
D)   traveler's
E)   limitedF) B) and E)
G) B) and D)

Question 12

If you receive payment from a patient by mail after the office visit, you should record it ____.

Accepted Answer

A)   on the daily log for the day of the patient's visit
B)   on the patient's ledger card and the current day's daily log
C)   directly onto the superbill
D)   in the adjustment column
E)   on the patient's ledger card onlyF) All of the above
G) C) and D)

Question 13

Which type of checks are preprinted in $10, $20, $50, and $100 denominations?

Accepted Answer

A)   Traveler's
B)   Voucher
C)   Limited
D)   Certified
E)   CounterF) A) and B)
G) C) and E)

Question 14

A special bank check that allows the depositor to withdraw funds from his or her account only is called a ____ check.

Accepted Answer

A)   counter
B)   certified
C)   voucher
D)   traveler's
E)   limitedF) B) and E)
G) C) and E)

Question 15

A credit ________ is a company that provides information about the creditworthiness of a person seeking credit.

Accepted Answer

The answer of A credit ________ is a company that...

Question 16

A type of endorsement often used by attorneys when they accept a check on behalf of a client but have no personal claim on the transaction is _____.

Accepted Answer

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

Question 17

If a medical practice accepts credit card payments, the American Medical Association (AMA)  suggests the use of which guideline?

Accepted Answer

A)   Set the fees higher for patients who pay by credit card.
B)   Do not encourage patients to use credit cards for payment.
C)   Advertise outside the office that the practice accepts credit cards.
D)   Allow only a select group of patients to use credit cards for payment.
E)   Tell patients they may only use credit cards if they do not have cash.F) B) and D)
G) B) and C)

Question 18

In order to be considered negotiable, a check must be signed by the ________.

Accepted Answer

The answer of In order to be considered negotiable, a...

Question 19

Jim Sanderson comes to the office today to pay the balance due on his statement. He presents the statement, showing an amount due of $96.75, and a money order for $96.75. How should this payment be handled?

Accepted Answer

A)   Explain that office policy allows you to accept only cash, check, or credit card
B)   Accept the money order and record it on the daily log and the patient's ledger card
C)   Complete the stub attached to the check and return the stub to Mr. Sanderson
D)   Ask Mr. Sanderson for a photo ID to prove that he purchased the money order
E)   Ask Mr. Sanderson to wait while you verify that the money order is validF) A) and E)
G) A) and D)

Question 20

The person to whom a check is written is the ________.

Accepted Answer

The answer of The person to whom a check is...

Exam 20: Patient Collections and Financial Management

Free treatment for ________ cases must be undertaken carefully and is given at the physician's discretion.

Correct AnswerverifiedShow Answer

To which of the following patients would a medical provider most likely render treatment as a professional courtesy?

Correct AnswerverifiedShow Answer

A double-entry bookkeeping system is based on the principle that the company's assets are equal to ____.

Correct AnswerverifiedShow Answer

In order to be considered negotiable, a check must be signed by the ________.

Correct AnswerverifiedShow Answer

When the office manager or practitioner decides that an account is uncollectable, he or she will ____.

Correct AnswerverifiedShow Answer

A type of check that states it is void after a certain time limit is a ____ check.

Correct AnswerverifiedShow Answer

The ________ appears as a fraction on the upper edge of all printed checks and identifies the geographic area and specific bank on which the check is drawn.

Correct AnswerverifiedABA number...View AnswerShow Answer

The person to whom a check is written is the ________.

Correct AnswerverifiedShow Answer

If a medical practice accepts credit card payments, the American Medical Association (AMA) suggests the use of which guideline?

Correct AnswerverifiedShow Answer

A type of endorsement often used by attorneys when they accept a check on behalf of a client but have no personal claim on the transaction is _____.

Correct AnswerverifiedShow Answer

Which type of checks are preprinted in $10, $20, $50, and $100 denominations?

Correct AnswerverifiedShow Answer

If you receive payment from a patient by mail after the office visit, you should record it ____.

Correct AnswerverifiedShow Answer

The person who has financial responsibility for a patient is known as the ________.

Correct AnswerverifiedShow Answer

You should not accept a(n) ________ check that is made out to the patient rather than to the practice unless it is from a health insurance company.

Correct Answerverifiedthird-part...View AnswerShow Answer

A credit ________ is a company that provides information about the creditworthiness of a person seeking credit.

Correct AnswerverifiedShow Answer

Mrs. Patterson brings her 17-year-old daughter Kelly in for a prenatal exam. When you inform Mrs. Patterson of the amount owed for today, she exclaims, "Oh, no! Kelly moved out last week and is staying with the rascal that did this to her. She can pay for her own care!" What should you do?

Correct AnswerverifiedShow Answer

The process of keeping a daily log of the patient charges and payments received from patients each day is called ________.

Correct AnswerverifiedShow Answer

A special bank check that allows the depositor to withdraw funds from his or her account only is called a ____ check.

Correct AnswerverifiedShow Answer

Jim Sanderson comes to the office today to pay the balance due on his statement. He presents the statement, showing an amount due of $96.75, and a money order for $96.75. How should this payment be handled?

Correct AnswerverifiedShow Answer

The most appropriate way to determine which parent has consent ability and payment responsibility for a minor child is to ____.

Correct AnswerverifiedShow Answer

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ABA number...
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third-part...
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