15Fees, Billing, Fees, Billing, Collections, and Collections, and CreditCreditLesson 2:Lesson 2:Accounting SystemsAccounting Systems
1. When it comes to accounting, who is given this responsibility in the medical office?
Accounting◦ System of reporting the financial status of a
business
Bookkeeping◦ Process of managing the accounts of the business
on a daily basis
Use a black ink penKeep the columns straight with decimal points lined up
Check all arithmetic for errors,
Do not erase, write over, or use white out.
Pay close attention to detail
Always fix errors as soon as they appear
Double-check every entry
CD-ROM green administrative procedures◦ Pt. billing and collections
Determining fees owed
To credit an account means to subtract the payment from the account
A patient has a credit balance when an overpayment occurs.
A credit balance may be noted on the patient’s account either in red or by enclosing the amount in parentheses
Debit◦Money owed
Adjustment◦A change on the account due to a discount, write-off or a disallowance
Balance◦Difference between the debit and the credit
The CPT book lists codes for reporting medical services and procedures, including diagnostic, laboratory, radiology, surgical and many others.
ICD Codes The ICD manual includes codes that identify the
particular diagnosis.
House Video Book assignment
