1. 15 Fees, Billing, Collections, and Credit Lesson 2: Accounting Systems

2. 1. When it comes to accounting, who is given this responsibility in the medical office?

3.  Accounting ◦ System of reporting the financial status of a business  Bookkeeping ◦ Process of managing the accounts of the business on a daily basis

4.  Use a black ink pen  Keep the columns straight with decimal points lined up  Check all arithmetic for errors,  Do not erase, write over, or use white out.

5.  Pay close attention to detail  Always fix errors as soon as they appear  Double-check every entry

6.  CD-ROM green administrative procedures ◦ Pt. billing and collections  Determining fees owed

7.  To credit an account means to subtract the payment from the account  A patient has a credit balance when an overpayment occurs.  A credit balance may be noted on the patient’s account either in red or by enclosing the amount in parentheses

8.  Debit ◦ Money owed  Adjustment ◦ A change on the account due to a discount, write-off or a disallowance  Balance ◦ Difference between the debit and the credit

9.  The CPT book lists codes for reporting medical services and procedures, including diagnostic, laboratory, radiology, surgical and many others. medical services  ICD Codes  The ICD manual includes codes that identify the particular diagnosis.

10.  House Video  Book assignment