question

accounts payable

answer

expenses and disbursements paid out from a business

question

check

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a draft or an order on a bank for a payment of a specific amount of money

question

expenses

answer

constitute the overhead that a business requires in order to keep operating

question

accounting

answer

is a system designed to maintain the financial records of a business

question

customary fee

answer

a fee that is within the range of the usual fee charged for a service

question

deposit slip

answer

is an itemized list of the funds to be deposited into the bank

question

carrier

answer

is the insurance company that pays the claims and collects premiums

question

CDT

answer

are procedure codes that are assigned to dental services int eh process of dental insurance

question

gross income

answer

is the total of all professional income received

question

invoice

answer

is an itemized list of goods that specifies the prices and terms of sale

question

ledger

answer

a financial statement that maintains all account transaction of a patient

question

net income

answer

is the income minus the expenses taken out

question

posted

answer

is the term used for documenting money transaction within a business

question

provider

answer

is the dentist who offers treatment to a patient

question

walkout statement

answer

similar to a receipt in that it shows the account balance

question

reasonable

answer

a fee that is considered fair for an extensive or complex treatment

question

responsible party

answer

The person who has agreed to pay for an account

question

petty cash

answer

a small amount of money kept on hand for small daily expenses

question

statement

answer

a summary of all charges, payments,, credits, and debits for the month

question

transaction

answer

is a change in payment or an adjustment made to a financial account

question

accounts receivable, accounts payable

answer

what types of bookkeeping systems are used in a dental practice

question

registration form

answer

what form will you use to gather financial information from a patient

question

private setting

answer

where should the business assistant discuss financial arrangements with a patient

question

accounts receivable

answer

money that is owed to the practice

question

pegboard system

answer

if a dental office does not have a computerized accounts receivable system, what manual system would be used?

question

charge slip

answer

what form is used to transmit a patient's fee for service from the treatment area to the business office

question

cash, credit, insurance

answer

what means of payment can a patient use for his or her account

question

daily

answer

how often should bank deposits be made

question

after 30 days

answer

when should an office begin collection efforts on a past due account?

question

letters, phone call, collection agency

answer

how would a business follow through on the collection of fees?

question

salaries

answer

an example of fixed overhead

question

net income

answer

a paycheck

question

packing slip, invoice, statement

answer

which document will arrive with the shipment of supplies

question

cash on delivery

answer

C.O.D.

question

check register

answer

where would you record check deposits made on an account

question

insufficient funds

answer

what terms indicates that an account does not have enough money to cover a check

question

UCR, schedule of benefits, fixed fee

answer

the method of calculating fee-for-service benefits

question

deductible

answer

what is the specified amount of money that an insured person must pay before his or her insurance goes into effect

question

dependent

answer

a child or spouse of an insurance subscriber

question

claim form

answer

a patient's insurance information is submitted in this way

question

business assistant responsibility

answer

maintaining complete, accurate, and up-to-date financial records, financial planning, declarations of money earned to federal and state agencies

question

accounting

answer

the means or process of recording, classifying, and summarizing a financial transaction

question

bookkeeping

answer

the record of the accounting process

question

registration form

answer

address, telephone, place of employment, responsible party, insurance

question

credit report

answer

financial profile

question

financial arrangement

answer

should be taken care of before treatment is started, in a unhurried manner and with the person responsible for the account

question

pegboard accounting

answer

all entries are completed on a daily journal page, ledger card, and carbonized receipt

question

computerized accounting

answer

data are entered into a computer program and used to maintain account histories and practice records

question

charge slips

answer

used to transmit financial information between the treatment area and the business office

question

daily journal page

answer

record of all transactions for the patients seen each day including the name of each patient, charges, payments, and adjustments to the account

question

walkout statement

answer

similar to a receipt but shows current account balance

question

items on walkout statement

answer

responsible party's name and address, type of services provided, insurance codes, fees, balances, etc.

question

change/petty cash fund

answer

usually $50 or less, money available for patients who pay with cash, does not become part of the daily deposit, should be the same at the end of the day as it was in the beginning

question

collections timetable

answer

30 days: a statement including financial arrangements is sent 60 days: a second statement is sent, accompanied by kind printed collection message or a telephone call 75 days: another telephone call is made and an amiable collection letter is sent 90 days: stronger collection letter noting that the account will be turned over to a collection agency 105: telephone call following same as above 120 days: the account is turned over to a collection agency

question

collection call

answer

speak only to the person responsible for the account, never leave a call that could be misunderstood or reveal confidential information or might be considered damaging

question

fixed overhead

answer

business expenses that continue at all times; rent or mortgage, utilities, insurance, and salaries

question

variable overhead

answer

expenses such as dental and business supplies, independent contractor fees, laboratory fees, and equipment-repair fees

question

net income

answer

gross income minus all practice-related expenses

question

packaging slip

answer

itemized listing of the goods shipped that is enclosed with a delivery

question

invoice

answer

bill to be paid

question

monthly disbursements

answer

payment is sent to suppliers

question

cash on delivery (C.O.D.)

answer

payment is due at the time of delivery

question

payee

answer

the person named on the check as the intended recipient

question

maker

answer

the one from whose account the amount of the check will be withdrawn

question

restrictive endorsement

answer

reads for deposit only, can only be deposited to that account

question

blanket endorsement

answer

anyone holding the check can cash it , signed name has to match the name shown on the face of the check

question

income tax withholding

answer

state and federal amounts withheld are determined from a schedule in the circular E booklet of the IRS

question

federal insurance contributions act, or FICA

answer

commonly known as social security

question

payroll deductions

answer

health or life insurance coverage, personal savings plan, pretax retirement plan

question

obtain dental insurance in two ways

answer

from the patient's employer or from the spouse's employer as a benefit through a group plan, as an individual plan

question

patient/subscriber

answer

person receiving the treatment

question

group

answer

the union or employment organization that has negotiated dental insurance as part of its benefits package

question

carrier

answer

the insurance company that pays the claims and collects the premiums

question

prepaid dental programs

answer

usual, customary, and reasonable

question

schedule of benefits

answer

table of allowances, list of fixed specified amounts that the carrier will pay toward the cost of covered services, patient is responsible for differences

question

fixed fee

answer

established fixed fee for any treatment received by the patient, dentist must accept the amount paid in the carrier as payment in full and may not bill the patient for the difference

question

alternative payment plans

answer

caption programs, direct reimbursement plans, individual practice associations, preferred provider organizations, managed care

question

overpayments

answer

credit the check from the carrier to the patient's account, write a check from the practice to the patient to refund the amount of the overpayment, make an entry on the account ledger

question

insurance fraud

answer

billing for services not provided, changing fees on a claim form, disregarding the copayment or deductible

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