A medical office is a business. If it is to succeed, it must produce a profit. Bookkeeping and banking are two key responsibilities, you will need an understanding of basic accounting and financial management skills. you have practiced basic finance/accounting skills by completing various written and electronic proficiencies. Based on this practice and the information you learned from classroom discussions, assigned readings, and research; describe the following:
1. Define the following terms related to bookkeeping in the medical office and provide an example for each.
Charges
payments
accounts recievable
accounts payable
adjustments
end-of-day reconciliation
2. Identify precations should be taken for accepting the following types of payments
cash
check
credit card
debit card
3. Identify types of adjustments should be made to patient accounts including:
non-sufficient funds (NSF)
Collection agency transactions
credit balances
third-party payers
4. Identify patient financial obligation for services rendered.
A medical office is a business. If it is to succeed, it must produce a profit. B
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