Ch 26 Patient Accounts

The Revenue Cycle

The process that includes receiving and posting co-pays, procedure/service coding/charge capture, claim submission, billing, collections, and payments.

Journalizing

The term used when an entry is made on a manual day sheet.

Encounter Form

A document that identifies the patient (by name or account/medical record number), the date, and additional information specific to the practice.

• The patient encounter form lists the procedures, with the respective codes, that were performed on the patient on that given visit. The patient is then billed for these procedure

What are day sheets and patient ledgers?

Day sheet (daily journal)

• holds recorded patient charges and receipts for the day.

Patient ledgers

• a record of all charges or services rendered, any payments made by the patient or the insurance carrier, and any adjustments.

Computerized Accounting Advantages

Speed, efficiency, automation, system integration, concurrent data, legibility, staff motivation, fewer accounting frustrations, and cost effectiveness.

Computerized Accounting Disadvantages

System problems, fraud, the "garbage in, garbage out" theory, and the potential for an improper or poorly programmed system.

Cost Estimate Sheet

A form that gives a patient an idea of the projected costs for a surgery or long-term treatment plan.

• ex: anesthesiology, consultants, hospital charges

Medical Office Discounts

A declining practice that is sometimes prohibited by law, but still exists primarily for professional courtesy or significant financial hardship.

Pegboard System

The manual system historically used to track patient accounts in the medical office.

What should be recorded on a cash control sheet?

A cash control sheet should record the total amount of cash and checks, including credit and debit card payments, any deposits made, and any amounts not deposited.