Epic Resolute Professional Billing (PB) Fundamentals Practice Exam

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What does 'A/R' stand for in billing practices?

Accounts Receivable

'A/R' stands for Accounts Receivable in billing practices. This term refers to the money owed to a business by its customers for goods or services that have been delivered but not yet paid for. In the context of professional billing, managing accounts receivable is crucial because it represents the outstanding debts that healthcare providers expect to collect from patients, insurance companies, or other third-party payers.

Effective management of accounts receivable ensures that a practice maintains healthy cash flow by tracking the outstanding balances and following up on payments. A high accounts receivable balance can indicate slow payment cycles or issues in billing processes, which may require attention to improve overall revenue collection efficiency. Understanding accounts receivable is fundamental for professionals in the billing field, as it directly impacts the financial health of healthcare organizations.

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Accounts Reconciliation

Audit Review

Accrual Reporting

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