Dental Office Admin – Flashcards
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customary fee
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a fee that is within the range of the usual fee charged for a service
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deposit slip
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is an itemized list of the funds to be deposited into the bank
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carrier
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is the insurance company that pays the claims and collects premiums
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CDT
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are procedure codes that are assigned to dental services int eh process of dental insurance
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gross income
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is the total of all professional income received
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invoice
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is an itemized list of goods that specifies the prices and terms of sale
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ledger
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a financial statement that maintains all account transaction of a patient
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net income
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is the income minus the expenses taken out
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posted
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is the term used for documenting money transaction within a business
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provider
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is the dentist who offers treatment to a patient
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walkout statement
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similar to a receipt in that it shows the account balance
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reasonable
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a fee that is considered fair for an extensive or complex treatment
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responsible party
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The person who has agreed to pay for an account
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petty cash
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a small amount of money kept on hand for small daily expenses
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statement
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a summary of all charges, payments,, credits, and debits for the month
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transaction
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is a change in payment or an adjustment made to a financial account
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accounts receivable, accounts payable
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what types of bookkeeping systems are used in a dental practice
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registration form
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what form will you use to gather financial information from a patient
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private setting
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where should the business assistant discuss financial arrangements with a patient
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accounts receivable
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money that is owed to the practice
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pegboard system
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if a dental office does not have a computerized accounts receivable system, what manual system would be used?
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charge slip
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what form is used to transmit a patient's fee for service from the treatment area to the business office
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cash, credit, insurance
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what means of payment can a patient use for his or her account
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daily
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how often should bank deposits be made
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after 30 days
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when should an office begin collection efforts on a past due account?
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letters, phone call, collection agency
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how would a business follow through on the collection of fees?
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salaries
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an example of fixed overhead
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net income
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a paycheck
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packing slip, invoice, statement
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which document will arrive with the shipment of supplies
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cash on delivery
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C.O.D.
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check register
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where would you record check deposits made on an account
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insufficient funds
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what terms indicates that an account does not have enough money to cover a check
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UCR, schedule of benefits, fixed fee
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the method of calculating fee-for-service benefits
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deductible
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what is the specified amount of money that an insured person must pay before his or her insurance goes into effect
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dependent
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a child or spouse of an insurance subscriber
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claim form
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a patient's insurance information is submitted in this way
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business assistant responsibility
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maintaining complete, accurate, and up-to-date financial records, financial planning, declarations of money earned to federal and state agencies
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accounting
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the means or process of recording, classifying, and summarizing a financial transaction
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bookkeeping
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the record of the accounting process
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registration form
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address, telephone, place of employment, responsible party, insurance
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credit report
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financial profile
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financial arrangement
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should be taken care of before treatment is started, in a unhurried manner and with the person responsible for the account
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pegboard accounting
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all entries are completed on a daily journal page, ledger card, and carbonized receipt
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computerized accounting
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data are entered into a computer program and used to maintain account histories and practice records
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charge slips
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used to transmit financial information between the treatment area and the business office
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daily journal page
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record of all transactions for the patients seen each day including the name of each patient, charges, payments, and adjustments to the account
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walkout statement
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similar to a receipt but shows current account balance
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items on walkout statement
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responsible party's name and address, type of services provided, insurance codes, fees, balances, etc.
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change/petty cash fund
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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
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collections timetable
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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
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collection call
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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
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fixed overhead
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business expenses that continue at all times; rent or mortgage, utilities, insurance, and salaries
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variable overhead
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expenses such as dental and business supplies, independent contractor fees, laboratory fees, and equipment-repair fees
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net income
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gross income minus all practice-related expenses
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packaging slip
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itemized listing of the goods shipped that is enclosed with a delivery
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invoice
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bill to be paid
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monthly disbursements
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payment is sent to suppliers
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cash on delivery (C.O.D.)
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payment is due at the time of delivery
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payee
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the person named on the check as the intended recipient
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maker
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the one from whose account the amount of the check will be withdrawn
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restrictive endorsement
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reads for deposit only, can only be deposited to that account
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blanket endorsement
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anyone holding the check can cash it , signed name has to match the name shown on the face of the check
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income tax withholding
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state and federal amounts withheld are determined from a schedule in the circular E booklet of the IRS
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federal insurance contributions act, or FICA
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commonly known as social security
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payroll deductions
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health or life insurance coverage, personal savings plan, pretax retirement plan
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obtain dental insurance in two ways
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from the patient's employer or from the spouse's employer as a benefit through a group plan, as an individual plan
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patient/subscriber
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person receiving the treatment
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group
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the union or employment organization that has negotiated dental insurance as part of its benefits package
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carrier
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the insurance company that pays the claims and collects the premiums
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prepaid dental programs
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usual, customary, and reasonable
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schedule of benefits
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table of allowances, list of fixed specified amounts that the carrier will pay toward the cost of covered services, patient is responsible for differences
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fixed fee
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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
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alternative payment plans
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caption programs, direct reimbursement plans, individual practice associations, preferred provider organizations, managed care
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overpayments
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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
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insurance fraud
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billing for services not provided, changing fees on a claim form, disregarding the copayment or deductible
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