Vocabulary Chapter 21

23 terms by amberperea 

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medical coding and billing

accounts

A statement of transactions during a fiscal period and the resulting balance.

account balance

The amount owed on an account.

accounts receivable ledger

A record of the charges and payments posted on an account.

credit

An entry on an account constituting an addition to a revenue, net worth, or liability account; the balance in a person's favor in an account.

debit

An entry on an account constituting an addition to an expense or asset account or deduction from revenue, a net worth, or a liability account.

debit card

Cards that look like credit cards and by which money may be withdrawn or the cost of a purchase paid directly from the holder's bank account without the payment of interest.

disbursement

Funds paid out.

fee profile

A compilation or average of physicians fees over a given period of time.

fee schedule

A compilation of pre established fee allowances for given period of time.

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.

guarantor

A person who makes or gives a guarantee of payment for a bill.

instigate

To goad or urge forward; to provoke.

medically indigent

Able to take care of ordinary living expenses, but not able to afford medical care.

payables

Balances due to a creditor on an account

pegboard system

also called the write it once system; a method of tracking patient accounts that allow the figures to be proved accurate through asthmatically formulas.

posting

transferring or carrying from a book of original entry to a ledger; entering figures in an account system.

premium

The consideration paid for a contract of insurance.

preponderance

A superiority or excess in number or quantity; a majority.

professional courtesy

Reduction or absence of fees to professional associates.

receipts

Amounts paid on patients accounts

receivables

amounts paid on a patients account

third party payor

someone other than the patient, spouse, or parent who is responsible for paying all or part of the patients medical costs.

transaction

An exchange or transfer of goods, services, or funds.

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