Question

The American Medical Association (AMA) provides guidelines for practices accepting credit card payments. Which of the following fall under these guidelines?

a) Ensuring maxiμm profit margins
b) Using credit cards for personal expenses
c) Regularly reviewing transaction statements
d) Delaying payments to suppliers

Answer 1

The American Medical Association (AMA) provides guidelines for practices accepting credit card payments. These guidelines include regularly reviewing transaction statements, ensuring maximum profit margins, not using credit cards for personal expenses, and not delaying payments to suppliers.

Step-by-step explanation:

The American Medical Association (AMA) provides guidelines for practices accepting credit card payments. These guidelines aim to ensure ethical and responsible financial practices. Some of these guidelines include:

1. Regularly reviewing transaction statements: This helps to identify any unauthorized or fraudulent charges and ensures accuracy in financial reporting.
2. Ensuring maximum profit margins: While the AMA encourages healthcare practices to be financially sustainable, it does not provide specific guidelines on profit margins.
3. Using credit cards for personal expenses: The AMA guidelines specifically focus on credit card payments related to medical services and do not address personal expenses.
4. Delaying payments to suppliers: The AMA guidelines prioritize timely and fair payment to suppliers to maintain positive business relationships and efficient healthcare operations.