Chapter 17 Accounts Receivable

1. A good way to make sure your patients are up to date on payments is by offering financing option. This gives the patient the option to pay for their treatment in installments. This can typically happen through third party services. *S. Miller

2. Pegboard system to write down payments and charges. You usa a borad, day sheet, ans slips to record everything once. It helps the office stay organized. Q. Abida

3. Dental offices use reports to see how much money is coming in, what patients still own, and how much work was done. These reports help the office know how it's doing. Q. Abida

4. Electronic Ledger stores all necessary financial information for a patient and generates insurance claims, pretreatment estimates, post payments, make adjustments. It is also responsible for keeping track of the days transactions, history of charges, payments, insurance statuses, financial plans, age of accounts and a total family balance. V.Edwards

5. Accounts payable records all monies the dental office owes others. V.Edwards

6. Billing is the procedure that notifies a responsible party (individual or insurance carrier) regarding the status of the account K. Delarosa

6.1. Enterung and transferring treatment information and associated fees to an accounting system accomplishes posting transactions. K. Delarosa

6.2. Routing slips are used to communicate treatment information between the treatment area and the business office and to establish a check and balance system to ensure that all transactions are posted. K.Delarosa

7. Methods of recording transactions include computerized bookkeeping and manual bookkeeping. The computerized method organizes, calculates accounts receivable, tracks, and can interact with other components of the software while manual bookkeeping is documented on a pegboard where the assistant balances and calculates spredsheets. M. Gordon.

8. The daily routine for managing patient transactions include identfying patients, printing routing slips, posting financial transactions, documenting patient treatments, document payments, and completing end of day procedures such as balancing day sheets. M. Gordon.

9. The purpose of reports is too

10. Accounts receivable is the total amount of money owed by the patient to the dental office and records all transactions between the two. Accounts payable records any money that is owed to the dental office. M. Gordon.

11. "

12. A method of recording payemts is the Pegboard Bookkeeping System. The pegboard, or write-it-once, bookkeeping system uses a board with pegs running down the left side. The pegs hold a day sheet, or daily journal, in place on the board. All transactions for the day are recorded on this day sheet. D.Davis

12.1. Payments can be made in a variety of ways including check and credit cards. Sometimes insurance doesnt pay 100% of the bill. D.Davis

12.2. Insurance disallowed a portion of the fee and you are a contracted provider you must adjust the patient's account by the disallowed amount. D.Davis

13. A computerized bookeeping system uses a program to organize, track, and calculate the accounts receivable. W. Herndon

14. Billing is essential in Dentistry. No matter what method is being used, it is imperative to remember that billing is an organized procedure that should be performed consistently each month. R. Roy

15. Adjustments can be made to an account for numerous reasons. Some examples include: senior discounts, professional courtesies, unapproved charges, and payment plan/credit card fees. R. Roy

15.1. Billing is a procedure that notifies the responsible party (individual or insurance carrier) regarding the current status of an account. Insurance carriers are sent the attending dentists statements (claim forms), and patients are sent statements. A statement indicates the date of service, indentifies the patient, and lists all transactions (treatment and payment). K. Geggatt

15.2. It is crucial for us to examine patient clinical records and verify appointents the day prior to treatment. This process helps the dental team familiarize themselves with the patient and their medical background. R. Bush

15.3. In a dental practice, reports are frequently utilized to identify patients who are due for recall appointments, those who have not finished their treatment plans, and any outstanding insurance claims. R. Bush

15.4. Managing financial transactions , either computerized or manual, includes posting transactions, completing audits, billing patients and insurance carriers. R. Bush

15.5. Routing slips are used to communicate treatment information between the treatment area and the business office and to establish a check and balance sytem to ensure that all transactions are posted. K. Geggatt

15.6. Financial reports: Used to determine the financial health of a dental practice. Accountants use them to report business, income and payroll taxes. Profit and loss statements: Used to identify overhead (the cost it takes to operate a business) and shows whether the dental practice is making or losing money. K. Geggatt

16. Verifying patient benefits before their treatment day is the very first step any buisness should take. once your patient calls be sure to log into your insurance portal and make sure everything is up to date. *S. Miller

17. Accounts receivable catergorizes all money owed to a dental office by insurances and patients and keeping track of the last payment made if there is a balance. V.Edwards

18. computerized bookkeeping tracks, organize and calculate accounts receivable. A. Stanley

19. reports summerize and outline various conditions such as patients who need appointments, outstanding insurance claims and patients who have not completed treatment. A.Stanley

20. billing notifies the responsible party regarding the current status of an account. A.Stanley