Question: A good financial policy is clear to:

Answer: Both patients and practice staff

Question: Financial policies cover which of the following?

Answer: collection of copayments

deductibles

past due balances do not cover collection of copayments, just surgical costs

ANSWER: all of these are covered

Question: A patient statement is ______________

Answer: a bill that is sent to a patient for medical services that have been provided

Question: The patient statement shows ______________

Answer: a balance that a patient owes the practice

Question: Which of the following shows a particular day’s transactions?

Answer: day sheet

Question: The day sheet in a medical office summarizes ______________

Answer: all the transactions that were posted to all patient ledgers on a particular business day

Question: The __________ totals the transactions that were posted to all patient ledgers on a particular business day.

Answer: day sheet

Question: When a practice accepts a credit card payment in advance for payments billed after treatment, what does the practice send the patient?

Answer: zero-balance statement

Question: Which of the following statements is true?

Answer: the guarantor and the patient may be the same person

Question: Assigning patient accounts to a specific time of month to standardize the times when patients are mailed and payments are due is known as _______________

Answer: cycle billing