The total of all patient accounts is known as?

The total of all patient accounts is referred to as accounts receivable. This term specifically denotes the outstanding balances that patients owe to the medical practice for services rendered. In a medical office management context, accounts receivable represents the money that is anticipated to be collected from patients and insurance companies for services provided, highlighting the financial health of the practice.

When assessing the financial performance of a medical office, understanding accounts receivable is crucial because it reflects the income that has yet to be collected and can affect cash flow. Efficient management of accounts receivable ensures that the practice stays financially viable, as timely follow-up on outstanding balances is essential for maintaining operational stability.

Other terms offered in the choices may relate to the financial management field but do not encapsulate the comprehensive view of total patient accounts as accounts receivable does. For example, while patient accounting may imply the broader practice of managing patient financial records, it does not specifically define the total sum of all patient debts. Similarly, account balance refers to the amount outstanding on an individual account rather than the aggregation of all accounts, and account accrual relates more to the method of recognizing revenue and expenses, rather than the total of patient debts owed to the practice.