CMAA Financial Management and Accounts Receivable 1

Question 1

What is a 'copayment' in the context of medical billing?

Accepted Answer

A fixed amount a patient pays at the time of service

Answer

The full cost of a medical service

Answer

The deductible amount owed annually

Answer

A balance billed after insurance pays

Question 2

What is the purpose of a 'day sheet' in a medical office?

Accepted Answer

To record daily financial transactions

Answer

To schedule patient appointments

Answer

To document patient diagnoses

Answer

To track employee attendance

Question 3

Which term describes the amount a patient must pay out-of-pocket before insurance begins covering costs?

Accepted Answer

Deductible

Answer

Premium

Answer

Copayment

Answer

Coinsurance

Question 4

What does 'accounts receivable' (A/R) represent in a medical practice?

Accepted Answer

Money owed to the practice by patients and insurers

Answer

Money owed to vendors

Answer

Staff payroll expenses

Answer

Equipment purchase records

Question 5

A patient's insurance pays 80% of a $200 claim after the deductible is met. What is the patient's coinsurance responsibility?

Accepted Answer

$40

Answer

$20

Answer

$80

Answer

$160

Question 6

What is a 'write-off' in medical office accounting?

Accepted Answer

An amount removed from accounts receivable that cannot be collected

Answer

A payment made to a vendor

Answer

A refund issued to a patient

Answer

A charge added to a patient's balance