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Billing and Collections/Accounting Practices

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Study Guide Chapters 20 & 21
Answers
Preventing collection problems   show
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Billing System-Monthly   show
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show Staggers bills during the month and is a flexible system for large practices.  
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show Payer of last resort.  
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show According to the Truth-In-Lending Act, requires providers to submit in writing charges of interest to a patient's account. Payment for medical services in more than 4 installments.  
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Collection letter   show
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Collection of fees at the time of service-recommended ratio   show
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show Gauges the effectiveness of the ambulatory care setting's billing practices. Total Amount Collected this Month divided by Total Monthly Charges minus adjustments.  
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Accounts receivable ratio   show
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show A patient declares bankruptcy to all debtors and is allowed to clear all debts and start fresh. Statements may no longer be sent nor any attempt be made to collect delinquent accounts.  
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Computerization   show
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One-Month Turnaround   show
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W-4 Form   show
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Fixed Costs vs. Variable Costs   show
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show Handles cases that involved only limited amount of debt.  
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Death of a patient   show
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show Sending to collection agency  
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show Defines the period in which legal action may take place.  
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What hinders collections of fees?   show
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show 1. When making collection calls, callers must identify themselves and ascertain that they are talking to the person who is responsible for the account. 2. A collection call should not be made to the patient's place of employment.  
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show 3. In most states, a debtor may be contacted only between 8am and 8pm.  
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Legal and ethical guidelines for making collection calls.   show
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show 5. If a contact must be made to the debtor's place of business, do not reveal to any third party the nature of the call. Patients have a right to confidentiality and privacy.  
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Legal and ethical guidelines for making collection calls.   show
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