Financial Management and Accounts Receivable Flashcards
6 cards from real CMAA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Financial Management and Accounts Receivable flashcards as text
What is an 'Explanation of Benefits' (EOB)?
Answer: A document from an insurer detailing how a claim was processed
An EOB is a document sent by an insurance company explaining how a claim was adjudicated, including amounts paid and patient responsibility.
Which collection method is typically the first step when a patient's account becomes overdue?
Answer: Sending a friendly reminder statement
The first step in collections is typically sending a friendly reminder statement to notify the patient of the outstanding balance.
What is the primary purpose of a 'superbill' in a medical office?
Answer: To document and charge services provided during a visit
A superbill is an itemized form that documents services provided during a visit, including CPT and diagnosis codes used for billing.
What does 'balance billing' mean in medical billing?
Answer: Billing the patient for the difference between the provider's charge and the insurer's allowed amount
Balance billing occurs when a provider bills a patient for the difference between their charged amount and the insurer's allowed amount.
A medical office's 'aging report' organizes outstanding balances by which criterion?
Answer: How long the balance has been outstanding
An aging report categorizes outstanding accounts receivable by how long they have been unpaid, typically in 30-day increments.
What information is required on a patient receipt in a medical office?
Answer: Date, services provided, amount charged, payment received, and balance
A complete patient receipt should include the date, services rendered, amount charged, payment received, and any remaining balance.