Green
What is the best way to search for a patient in a practice management system?
Alphabetically
Which type of billing process works best for a small practice?
Monthly billing
Money due to the practice is known as
Accounts receivable
A practice management system is often integrated with this system to allow information to be pulled from it and populated in the financial component of the patient account
Electronic medical record (EMR) or electronic health record (EHR)
What type of services do offices avoid if at all possible because they are costly to the office?
Collection Agency Services
Contracting out a specific business function to another company, rather than having your own company manage that specific work is called what?
Outsourcing
When posting a payment to a patient’s account, you must enter all but which of the following into the system?
a. date of the payment
b. previous balance
c. payment amount
d. form of payment
A previous balance
True or false? Patient payments are vital for the financial health of a medical facility?
True
If the patient balance is $500 and the patient agrees to pay $50 per month on the 12th of the month with no interest being charged, how long will it take for the bill to be paid in full?
What form of payment should not be accepted if it has more than one endorsement?
What type of billing process works best for a large practice?
Cycle Billing
What is a validation notice used for?
What do you call it when a patient has disappeared or moved to avoid paying their bills?
Skipped
What is aging of accounts?
A way to identify accounts according to the length of time they have been delinquent
In what type of billing process should one to two days be set aside for processing and mailing statements?
Monthly billing
What do you call a check made out to a patient by another known party?
Third-party check
What is the name of the nation's consumer protection agency?
Federal Trade Commission (FTC)
Statements or itemized bills are most often generated through a practice management system in this type of billing
Computerized billing
When making a collection call, what hours must you call between?
8 am and 9 pm
If the statute of limitations is six years and the last date on the patient account was November 2005 through what month can that account be collected?
November 2011
What are account statements or itemized bills most often generated from?
When is the best time to prepare patients for the fact that they are responsible for their bill?
At the time they make the appointment
What is it called when a petition is made to the court by individual who is stating they cannot pay their debt?
Bankruptcy
Which of the following terms are most effective and least confrontational when used in a collection letter?
neglected, overlooked, failed, ignored
overlooked
How might a collection agency charge for their services?
Take a percentage of the bill once collected