MED 131 Final Exam Latest Update -

MED 131 Final Exam Latest Update - Actual Exam 100 Questions and 100% Verified Correct Answers Guaranteed A+ Verified by Professor

• What is the term used to describe money that is owed to the medical office? -

CORRECT ANSWER: Accounts Receivable

• What term is used to describe the bills that the practice has for office rent, equipment

rental, and salaries? - CORRECT ANSWER: Accounts Payable

• What is the function of a daily journal (day sheet) in a bookkeeping system? -

CORRECT ANSWER: To keep a chronological record of transactions.

• What is the major disadvantage of the single-entry bookkeeping system? -

CORRECT ANSWER: There is no method to crosscheck for accuracy of recording and

calculations.

• What type of record is used to keep track of all the charges and payments for each

individual patient? - CORRECT ANSWER: Patient ledger

• Who is responsible to determine the type or level of service provided to the patient? -

CORRECT ANSWER: Physician

• What codes are necessary in order to submit insurance claims? - CORRECT

ANSWER: Both diagnosis and procedure codes

• How does the medical assistant know what the usual charge is for a procedure? -

CORRECT ANSWER: The charge appears form computer memory when the procedure

is selected

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• Before leaving the office, the patient gives the medical assistant $10 on account.

What type of entry does the medical assistant make to the computer billing program? -

CORRECT ANSWER: Payment

• What are examples of a debit adjustment (increases the amount the patient owes)?

- CORRECT ANSWER: Check returned by the bank for non-Sufficient Funds

• What precaution should be taken when accepting a credit card for payment by a

patient? - CORRECT ANSWER: The name on the card should be the name of the

individual presenting the card.

• What is an advantage of a computer billing system related to posting payments? -

CORRECT ANSWER: Analyze your revenue cycle

• List types of checks the medical assistant can accept from a patient. - CORRECT

ANSWER: Check for the outstanding amount

What is usually collected as payment for a patient with managed care insurance at the

time of an office visit? - CORRECT ANSWER: copayment

• What types of procedures usually are NOT covered by insurance? - CORRECT

ANSWER: Elective Surgery

• What must be given to patients with original Medicare if it is possible that Medicare

might not cover the service which will be provided? - CORRECT ANSWER: Medicare

Advance Beneficiary Notice

• How do money market accounts compare with checking accounts? - CORRECT

ANSWER: Checks must usually be written for a higher minimum amount

• How will the medical office usually utilize a savings account? - CORRECT

ANSWER: To keep a reserve fund of money for unanticipated expenses.

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