CMAA Financial Management and Accounts Receivable 3

Question 1

What is a 'fee schedule' in a medical practice?

Accepted Answer

A list of standard charges for services offered by the practice

Answer

A fee schedule is a comprehensive list of standard charges the practice assigns to each service or procedure it provides.

Question 2

When a patient pays with a personal check and it is returned due to insufficient funds, what should the medical office do first?

Accepted Answer

Notify the patient and request payment via cash or money order

Answer

The first step is to notify the patient of the returned check and request immediate payment by cash or money order.

Question 3

What is the function of a 'charge entry' process in medical billing?

Accepted Answer

Entering coded services into the billing system to generate claims

Answer

Charge entry is the process of entering CPT and ICD codes from the superbill into the billing system to create a claim.

Question 4

What does 'credit balance' mean on a patient's account?

Accepted Answer

The practice owes money to the patient due to overpayment

Answer

A credit balance means the patient has overpaid and the practice owes them a refund.

Question 5

Which financial document provides a summary of all charges, payments, and adjustments for a specific period?

Accepted Answer

Ledger card

Answer

A ledger card (or patient account ledger) provides a running record of all charges, payments, and adjustments for a patient's account.

CMAA - Certified Medical Administrative Assistant Practice Test