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Dental Office Admin

accounts payable
expenses and disbursements paid out from a business
check
a draft or an order on a bank for a payment of a specific amount of money
expenses
constitute the overhead that a business requires in order to keep operating
accounting
is a system designed to maintain the financial records of a business
customary fee
a fee that is within the range of the usual fee charged for a service
deposit slip
is an itemized list of the funds to be deposited into the bank
carrier
is the insurance company that pays the claims and collects premiums
CDT
are procedure codes that are assigned to dental services int eh process of dental insurance
gross income
is the total of all professional income received
invoice
is an itemized list of goods that specifies the prices and terms of sale
ledger
a financial statement that maintains all account transaction of a patient
net income
is the income minus the expenses taken out
posted
is the term used for documenting money transaction within a business
provider
is the dentist who offers treatment to a patient
walkout statement
similar to a receipt in that it shows the account balance
reasonable
a fee that is considered fair for an extensive or complex treatment
responsible party
The person who has agreed to pay for an account
petty cash
a small amount of money kept on hand for small daily expenses
statement
a summary of all charges, payments,, credits, and debits for the month
transaction
is a change in payment or an adjustment made to a financial account
accounts receivable, accounts payable
what types of bookkeeping systems are used in a dental practice
registration form
what form will you use to gather financial information from a patient
private setting
where should the business assistant discuss financial arrangements with a patient
accounts receivable
money that is owed to the practice
pegboard system
if a dental office does not have a computerized accounts receivable system, what manual system would be used?
charge slip
what form is used to transmit a patient’s fee for service from the treatment area to the business office
cash, credit, insurance
what means of payment can a patient use for his or her account
daily
how often should bank deposits be made
after 30 days
when should an office begin collection efforts on a past due account?
letters, phone call, collection agency
how would a business follow through on the collection of fees?
salaries
an example of fixed overhead
net income
a paycheck
packing slip, invoice, statement
which document will arrive with the shipment of supplies
cash on delivery
C.O.D.
check register
where would you record check deposits made on an account
insufficient funds
what terms indicates that an account does not have enough money to cover a check
UCR, schedule of benefits, fixed fee
the method of calculating fee-for-service benefits
deductible
what is the specified amount of money that an insured person must pay before his or her insurance goes into effect
dependent
a child or spouse of an insurance subscriber
claim form
a patient’s insurance information is submitted in this way
business assistant responsibility
maintaining complete, accurate, and up-to-date financial records, financial planning, declarations of money earned to federal and state agencies
accounting
the means or process of recording, classifying, and summarizing a financial transaction
bookkeeping
the record of the accounting process
registration form
address, telephone, place of employment, responsible party, insurance
credit report
financial profile
financial arrangement
should be taken care of before treatment is started, in a unhurried manner and with the person responsible for the account
pegboard accounting
all entries are completed on a daily journal page, ledger card, and carbonized receipt
computerized accounting
data are entered into a computer program and used to maintain account histories and practice records
charge slips
used to transmit financial information between the treatment area and the business office
daily journal page
record of all transactions for the patients seen each day including the name of each patient, charges, payments, and adjustments to the account
walkout statement
similar to a receipt but shows current account balance
items on walkout statement
responsible party’s name and address, type of services provided, insurance codes, fees, balances, etc.
change/petty cash fund
usually $50 or less, money available for patients who pay with cash, does not become part of the daily deposit, should be the same at the end of the day as it was in the beginning
collections timetable
30 days: a statement including financial arrangements is sent
60 days: a second statement is sent, accompanied by kind printed collection message or a telephone call
75 days: another telephone call is made and an amiable collection letter is sent
90 days: stronger collection letter noting that the account will be turned over to a collection agency
105: telephone call following same as above
120 days: the account is turned over to a collection agency
collection call
speak only to the person responsible for the account, never leave a call that could be misunderstood or reveal confidential information or might be considered damaging
fixed overhead
business expenses that continue at all times; rent or mortgage, utilities, insurance, and salaries
variable overhead
expenses such as dental and business supplies, independent contractor fees, laboratory fees, and equipment-repair fees
net income
gross income minus all practice-related expenses
packaging slip
itemized listing of the goods shipped that is enclosed with a delivery
invoice
bill to be paid
monthly disbursements
payment is sent to suppliers
cash on delivery (C.O.D.)
payment is due at the time of delivery
payee
the person named on the check as the intended recipient
maker
the one from whose account the amount of the check will be withdrawn
restrictive endorsement
reads for deposit only, can only be deposited to that account
blanket endorsement
anyone holding the check can cash it , signed name has to match the name shown on the face of the check
income tax withholding
state and federal amounts withheld are determined from a schedule in the circular E booklet of the IRS
federal insurance contributions act, or FICA
commonly known as social security
payroll deductions
health or life insurance coverage, personal savings plan, pretax retirement plan
obtain dental insurance in two ways
from the patient’s employer or from the spouse’s employer as a benefit through a group plan, as an individual plan
patient/subscriber
person receiving the treatment
group
the union or employment organization that has negotiated dental insurance as part of its benefits package
carrier
the insurance company that pays the claims and collects the premiums
prepaid dental programs
usual, customary, and reasonable
schedule of benefits
table of allowances, list of fixed specified amounts that the carrier will pay toward the cost of covered services, patient is responsible for differences
fixed fee
established fixed fee for any treatment received by the patient, dentist must accept the amount paid in the carrier as payment in full and may not bill the patient for the difference
alternative payment plans
caption programs, direct reimbursement plans, individual practice associations, preferred provider organizations, managed care
overpayments
credit the check from the carrier to the patient’s account, write a check from the practice to the patient to refund the amount of the overpayment, make an entry on the account ledger
insurance fraud
billing for services not provided, changing fees on a claim form, disregarding the copayment or deductible

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