What is the term for a permanent record of all financial transactions between the patient and the practice?

The term that best describes a permanent record of all financial transactions between the patient and the practice is the Patient Ledger or Patient Account Record. This document retains comprehensive information regarding every transaction, including payments made by the patient, charges incurred for services rendered, outstanding balances, and any adjustments or write-offs that may occur throughout the patient's relationship with the healthcare provider.

The Patient Ledger serves as a detailed, organized account of the patient's financial interactions, making it essential for tracking payment histories, managing accounts, and resolving any billing inquiries. It is particularly important in revenue cycle management, where maintaining clear records is vital for financial accuracy and patient satisfaction.

Other options, such as the Daily Accounts Receivable Journal, typically focus on summarizing transactions across all patients for a specific day rather than maintaining individual patient records. The Patient Balance Sheet generally captures a snapshot of a patient's assets and liabilities but does not provide the detailed transactional history that a Patient Ledger does. A Transaction History Record, while resembling a ledger, may not imply the permanence or the comprehensive nature of the records kept in a Patient Ledger. Thus, the Patient Ledger is the most appropriate and accurate term in this context.