GeBBS Healthcare Solutions Accounts Receivable Associate Interview Questions and Answers

An offset is a deduction or credit applied to an account to balance out a debt or obligation.

• An offset is used to reduce or eliminate a debt owed by applying a credit from another source.

• Offsets are commonly used in accounts receivable to reconcile payments and outstanding balances.

• For example, if a customer returns a product and receives a credit, that credit can be used as an offset against their outstanding balance.

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Out of pocket refers to expenses paid by an individual that are not reimbursed by insurance or other sources.

• Out of pocket expenses are costs that are paid directly by the individual, without reimbursement.

• These expenses can include deductibles, copayments, and coinsurance for medical services.

• Out of pocket costs can also include expenses for services or products not covered by insurance.

• Individuals may have to pay out...read more

Not a medical necessity refers to a treatment or service that is not required for the patient's health or well-being.

• Not a medical necessity means the treatment or service is not essential for the patient's health.

• Insurance companies may not cover treatments that are not considered medically necessary.

• Examples include cosmetic procedures, elective surgeries, and experimental treatments.