Understanding data entry forms vs. exact forms & how to create a client recordID field by combining partial data from other fields.

This is probably a pretty basic concept but I'm very new to this. I'm trying to create a medical record ID# which is a combination of the client's first name 1st initial + first 3 letters of last name + last 4 digits of Medicaid ins ID, but have this field autmatically populate on all my medical record forms. So like if my name was John Smith Med ID= 23458373987849, then I'd like to enter that data into my clients parent table during the admissions intake appointment & have the record ID# field populate JSmi7849 automatically into the top right corner of each of my exact forms (admissions documents), & other client clinical documentation (i.e. progress notes, assessment report, Individualilzed service plan, discharge summary, etc.) Also, am I correct that the best way to produce these records is by using the "exact forms" & designing the custom templates in word or is there a better way to publish the information into an offical medical record document, which can be signed by the clniician. If I'm understanding Quickbase correctly, there are 2 types of forms: data entry forms (used to put the data into tables for storage) & exact forms (used to publish data into a formalized document after it's been entered. Is this correct?