FUNDAMENTALS UPDATED SCRIPT 2026
PRACTICE SOLUTIONS GRADED A+
● What is accounts receivable? Answer: accounts receivable refers to a
facilities outstanding dollars that are due from patients, insurance
companies, third party payers, Etc. These dollars are most often
categorized by patient, payor, and third party.
● What is single billing office? Answer: Single Billing Office (SBO) is
an operational model that combines PB and HB self-pay and guarantor
related work flows into a single workflow. Areas of the revenue cycle
that are operationally combined include customer service, statements,
self pay Collections, and self pay credit resolution.
● HB HAR Answer: Store HB charges, payments and adjustments for an
encounter
● Min Days Answer: set number of days between discharge and
attempting to bill a HB HAR
● HAR (Hospital Account Records) Answer: records are used as
containers for charges in both Hospital billing and professional billing.
, ● Initiate Billing (liability assigned) Answer: Moment we attempt to bill
the balance on the HB HAR
● How are buckets used in the Revenue Cycle Answer: to assign and
track Financial liability for an HB HAR throughout the revenue cycle
● What are the three most common types of buckets Answer: pre-billed,
insurance, self-pay
● holds charges before they are signed to another bucket. (All charges
from hospital stay) Answer: What is the Pre-Billed (created) Liability
Bucket
● Insurance Liability Bucket Answer: holds charges, payments, and
adjustments assigned to a specific insurance
● Self-Pay Liability Bucket Answer: holds charges, payments, and
adjustments assigned to the guarantor
● What are the 3 statuses of Liability Buckets? (3 responses) Answer: 1.
Created
2. Outstanding
3. Closed