Asked by Canion Cavazos on May 09, 2024
Verified
Professional courtesy discounts,write-offs,or amounts not paid by insurance
A) charges
B) payments
C) accounts payable
D) adjustments
Professional Courtesy Discounts
Discounts offered by medical professionals to colleagues, employees, or their families, often reducing the cost of healthcare services.
Write-Offs
The deduction of an amount due (as an uncollectable debt) from an entity's revenue, thereby decreasing its income.
Insurance
A financial product that provides protection against financial losses, ensuring compensation for specified loss, damage, illness, or death in return for payment of a premium.
- Recognize the vital importance of financial dealings in healthcare, encompassing invoicing, disbursements, payables, and adjustments.
Verified Answer
AL
Andrea LasherMay 10, 2024
Final Answer :
D
Explanation :
This description refers to adjustments in accounting, which include professional courtesy discounts, write-offs, or amounts not paid by insurance. These are adjustments made to the accounts, which are more systematically recorded in a double-entry bookkeeping system, allowing for a more accurate reflection of the financial state.
Learning Objectives
- Recognize the vital importance of financial dealings in healthcare, encompassing invoicing, disbursements, payables, and adjustments.