Asked by mondy metellus on Apr 26, 2024
Verified
Money paid by the patient or insurance carrier
A) charges
B) payments
C) accounts payable
D) adjustments
Double-Entry Bookkeeping System
An accounting method that records each financial transaction twice, in debit and credit columns, to maintain the balance of the accounting equation.
Single-Entry System
A simple form of bookkeeping where each financial transaction is recorded in only one account, not suitable for tracking assets and liabilities accurately.
Payments
Transactions involving the transfer of money in exchange for goods, services, or to fulfill a legal obligation.
- Know the significance of financial transactions in healthcare such as charges, payments, accounts payable, and adjustments.
Verified Answer
Learning Objectives
- Know the significance of financial transactions in healthcare such as charges, payments, accounts payable, and adjustments.
Related questions
Professional Courtesy Discounts,write-Offs,or Amounts Not Paid by Insurance
When Using a Manual Method,all Charges and Payments Made to ...
When Using the Pegboard System,the Day Sheet Does Not ...
Record for Each Patient That Shows Charges,payments,and Balance Due ...
When a Patient Pays Using A(n) _______ Card, the Money ...