What protocols must be in place to ensure legal protection of both the patient and the office?

In class, you have practiced basic finance/accounting skills by completing various written and electronic
proficiencies. Based on this practice and the information you learned from classroom discussions,
assigned readings, and research; d escribe the following:
1. Describe and differentiate between bookkeeping and accounting principles. Include the concepts
of single-entry ledgers, double-entry, pegboard and computerized data. VIC. 2
2. When completing basic bookkeeping computations, there are certain adjustments you might make
to a specific account. Discuss three types of computation adjustments you might make. Include
the correct protocol for each. How can you ensure tha t errors are not made when these
adjustments are recorded? VIC. 1
3. Describe banking principles, including the various types of checks, types of endorsements,
deposits and reconciliation of financial statements. What precautions should you take when
accepti ng either patient or third -party checks? VIC. 3, VIC. 4, VIC. 5
4. Describe the difference between accounts payable and accounts receivable. Include specific
examples of each in your discussion. VIC. 6
5. Compare and contrast the pros and cons of manual versus c omputerized bookkeeping systems.
Which system would you prefer to use and why? VIC. 7
6. Identify and describe common periodic financial reports, including payroll, tr ia l balance sheets,
cash flow and statement of income/assets. VIC. 8
7. Identify and descri be various billing and payment options in a medical office, including charge
slips, cash, checks and third party reimbursements. VIC. 9
8. Describe procedures for preparing patient accounts, including open book method, written
contracts and the use of an age analysis. VIC . 10

Bryant & Stratton College Medical Assisting P rogram
Competency Project for MAERB Core Curriculum
AHLT 245 Medical Office Procedures

5

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9. Describe procedures for collecting outstanding accounts. VIC. 11
a. What protocols must be in place to ensure legal protection of both the patient and the
office?
b. Describe the impact of both the Fair Debt Collection Act and the Federal Tru th in
Lending Act on both the patient and the medical office. VIC . 12
c. Describe adjustments that may be made to a patient’s account. VIC. 13

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4. Indent first line of each paragraph
5. Cover sheet for each part
6. Reference page for each part

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