Medical Billing 101
EOB ~ Explanation of Benefits correct answersForm sent to physician or patient detailing benefits paid or
denied by the ins. co.
Decipher means? correct answersInterpreting of meaning of.
EFT ~ Electronic Funds Transfer means? correct answersPayment method where funds are deposited
early into physicians bank account.
Insurance adjustment means? correct answersDollar amt adjusted off the patient's acct reflecting the
diff. btween the fee for services billed & allowed amt determined by ins. co.
Posting means? correct answersMaking an entry in the patient's acct.
Rejected claim means? correct answersRefused to accept.
Denied claim means? correct answersRefused to grant ~ payment for claim.
Non-covered means? correct answersService or procedure not listed as covered benefit in the payer's
master benefit list.
Unauthorized means? correct answersAuthorization or approval not obtained prior to treatment.
what is an Appeal? correct answersProcedure used when payer denies a service Patient thinks is needed
or refuses to pay for care that the patient already received.
Aging Reports mean? correct answersgrow old.
, What is a Follow-up? correct answersChecking the status of a claim.
Rebill means? correct answersResubmit a claim.
Insurance Aging Report means? correct answersReport showing monies owed to the physician from ins.
co.
Patient Aging Report is ? correct answersReport showing monies owed to the physician from patients ~
balances due.
Outstanding means? correct answersNot yet paid.
Maintaining means? correct answersKeeping current.
Cash flow is? correct answersStream of cash (income) used for disbursements.
Overhead is? correct answersBusiness expense.
Post-dated check correct answersCheck dated for the future.
Soft collections are? correct answersMailing/calling patient-due statements reminding of their past-due
balances.
what is a Write off correct answersDollar amt adjustment due from patient/ins. co. to reflect zero
balance due on claim in question or sometimes patient's entire bal.
Collection Agency is ? correct answersAgency retained by the practice for purpose of collecting debts.
Department of Insurance correct answersGovernment agency in charge of controlling & regulating ins.
co.
EOB ~ Explanation of Benefits correct answersForm sent to physician or patient detailing benefits paid or
denied by the ins. co.
Decipher means? correct answersInterpreting of meaning of.
EFT ~ Electronic Funds Transfer means? correct answersPayment method where funds are deposited
early into physicians bank account.
Insurance adjustment means? correct answersDollar amt adjusted off the patient's acct reflecting the
diff. btween the fee for services billed & allowed amt determined by ins. co.
Posting means? correct answersMaking an entry in the patient's acct.
Rejected claim means? correct answersRefused to accept.
Denied claim means? correct answersRefused to grant ~ payment for claim.
Non-covered means? correct answersService or procedure not listed as covered benefit in the payer's
master benefit list.
Unauthorized means? correct answersAuthorization or approval not obtained prior to treatment.
what is an Appeal? correct answersProcedure used when payer denies a service Patient thinks is needed
or refuses to pay for care that the patient already received.
Aging Reports mean? correct answersgrow old.
, What is a Follow-up? correct answersChecking the status of a claim.
Rebill means? correct answersResubmit a claim.
Insurance Aging Report means? correct answersReport showing monies owed to the physician from ins.
co.
Patient Aging Report is ? correct answersReport showing monies owed to the physician from patients ~
balances due.
Outstanding means? correct answersNot yet paid.
Maintaining means? correct answersKeeping current.
Cash flow is? correct answersStream of cash (income) used for disbursements.
Overhead is? correct answersBusiness expense.
Post-dated check correct answersCheck dated for the future.
Soft collections are? correct answersMailing/calling patient-due statements reminding of their past-due
balances.
what is a Write off correct answersDollar amt adjustment due from patient/ins. co. to reflect zero
balance due on claim in question or sometimes patient's entire bal.
Collection Agency is ? correct answersAgency retained by the practice for purpose of collecting debts.
Department of Insurance correct answersGovernment agency in charge of controlling & regulating ins.
co.
