MED 131 Final Exam Latest Update 2024-2025 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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