CMAA Financial Management and Accounting 2

Question 1

What is a write-off (adjustment) in medical billing?

Accepted Answer

An amount the practice agrees not to collect

Answer

A write-off is an adjustment that reduces the patient's balance by an amount the practice has agreed not to collect, often due to a contractual discount.

Question 2

Which form is used to submit claims to Medicare and most commercial insurers?

Accepted Answer

CMS-1500

Answer

The CMS-1500 is the standard paper claim form used by non-institutional providers to bill Medicare, Medicaid, and most commercial insurers.

Question 3

What does 'aging report' refer to in a medical office?

Accepted Answer

A report tracking outstanding balances by time period

Answer

An aging report categorizes outstanding accounts receivable by how long balances have been unpaid (30, 60, 90, 120+ days).

Question 4

What is co-insurance in a health insurance plan?

Accepted Answer

The percentage of costs shared between patient and insurer after the deductible

Answer

Co-insurance is the percentage of covered costs a patient pays after meeting the deductible, with the insurer paying the remainder.

Question 5

What does 'balance billing' mean?

Accepted Answer

Billing the patient for the difference between the provider's charge and the insurer's payment

Answer

Balance billing occurs when a provider bills the patient for the difference between their charge and what the insurance company paid.

CMAA - Certified Medical Administrative Assistant Practice Test

CMAA - Certified Medical Administrative Assistant Practice Test

CMAA Financial Management and Accounting 2