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  1. Account
    A statement of transactions during a fiscal period and the resulting balance.
  2. Account Balance
    The amount owed on an account
  3. Accounts receivable ledger
    A record of the charges and payments posted on an account
  4. Credit
    An entry on an account constituting an addition to a revenue, net worth, or a liability account; the balance in a person's favor in an account.
  5. Debit
    An entry on an account constituting an addition to an expense or asset account or a deduction from a revenue, a net worth, or a liability account.
  6. Debit cards
    cards that looks like credit cards and by which money may be withdrawn or the cost or purchases paid directly from the holder's bank account without the payment of interest.
  7. Disbursements
    Funds paid out.
  8. Fee profile
    A compilation or average of physician fees over a given services or procedures.
  9. Fee Schedule
    A compilation of preestablished fee allowances for given services or procedures.
  10. Fiscal agent
    An organization under contract to the government as well as some private plans to act as financial representatives in handling insurance claims from providers of health care; also referred to as fiscal intermediary.
  11. Guarantor
    A personwho makes or gives a guarantee of payment for a bill.
  12. Instigate
    To goad or urge forward; to provoke.
  13. Medically Indigent
    Able to take care of ordinary living expenses but not able to afford medical care.
  14. Payables
    Balances due to a creditor on an account.
  15. Pegboard system
    Also called the write-it-once system; a method of tracking patient accounts that allows the figures to be proved accurately through mathematic formulas.
  16. Posting
    Transferring or carrying from a book of original entry to a ledger; entering figures in an accounting system.
  17. Premium
    The consideration paid for a contract of insurance.
  18. Preponderance
    A superiority or excess in number or quantity; a majority.
  19. Professional courtesy
    Reduction or absence of fees to professional associates.
  20. Receipts
    Amounts paid on patient accounts
  21. Receivables
    Total monies received on accounts.
  22. Third-party payor
    Someone other than the patient, spouse, or parent who is responsible for paying all or part of the patient's medical costs.
  23. Transaction
    An exchange or transfer of goods, services, or funds.
  24. Clearinghouses
    Networks of banks that exchange checks with one another.
  25. Disbursements
    Money paid out
  26. Drawee
    Bank or facility on which a check is drawn or written.
  27. Drawer
    Person who writes a check
  28. E-banking
    Electronic banking via computer modem or over the internet
  29. Endorser
    Person who signs his or her name on the back of a check for the purpose of transferring title to another person .
  30. Holder
    Person presenting a check for payment
  31. M-banking
    Banking through the use of wireless devices, such as cellular phones and wireless Internet services.
  32. Maker
    In reference to a check, any individual, corporation, or legal party who signs a check or any type of negotiable instrument.
  33. Negotiable
    legally transferable to another party
  34. Payee
    Person named on a draft or check as the recipient of the amount shown.
  35. Payor
    Person who writes a check in favor of the payee.
  36. Power of attorney
    A legal statements in which a person authorizes another person to act as his or attorney or agent. The authority may be limited to the handling of specific procedures. The person authorized to act as the agent is known as the attorney in fact.
  37. Principal
    A capital sum of money due as a debt or used as a fund for which interest is either charged or paid.
  38. Reconciliation
    The process of proving that a bank statement and checkbook balance are in agreement.
  39. Uniform Commercial Code (UCC)
    A unified set of rules covering many business transactions; it has been adopted in all 50 states, the District of Columbia, and most U.S. territories. It regulates the fields of sales of goods; commercial paper, such as checks; secured transactions in personal property; and particular aspects of banking, letters of credit, warehouse reciepts, bills of lading, and investment securities.
  40. Accounts payable
    Debts incurred and not yet paid.
  41. Accounts receivable
    Amounts owed to the physician.
  42. Accounts receivable trial balance
    A method of determining that the journal and the ledger are in balance.
  43. Assets
    The entire property of a person, association, corporation, or estate applicable or subject to the payment of debts.
  44. Balance sheet
    A financial statement for a specific date that shows the total assets, liabilities, and capital of the business.
  45. Bookkeeping
    The recording of business and accounting transactions.
  46. Cash Basis of Accounting
    Method of accounting in which income is recorded when received and expenses are recorded when paid.
  47. Cash flow statement
    A financial summary for a specific period that shows the beginning balance on hand, the receipts and disbursements during the period, and the balance on hand at the end of the period.
  48. Disbursement Journal
    A summary of accounts paid out.
  49. Equities
    The money value of a property or of an interest in a property in excess of claims or leins against it.
  50. Fiscal year
    An accounting period of 12 months
  51. In Balance
    State in which the total ending balances of patients ledgers equals total of accounts receivable.
  52. Invoice
    A paper describing a purchase and the amount due.
  53. Liabilities
    Things that are owed; debts.
  54. Packing slip
    An itemized list of objects in a package.
  55. Petty Cash fund
    A fund maintained to pay small unpredictable cash expenditures.
  56. Statement
    A request for payment.
  57. Statement of income and expense
    A summary of all income and expenses for a given period.
  58. Trial balance
    A method of checking the accuracy of accounts
Card Set
Week Three Vocabulary BILLING
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