Ch # 49: Billings & Collections Flashcards

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1
Q

The process of finding out how long specific account balances have been out standing

An account is considered overdue after 30 days and r categorized as 30-60 days, 60-90 days and over 120 days. At 120 days the office will respond in either 2 ways: 1) send a letter 2 the patient threatening a lawsuit in small claims court or 2) send it 2 a collection agency

A

Account aging

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2
Q

Total amount owed

A

Balance due

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3
Q

Legal process by which the debts of an individual or business r resolved if they cannot b paid

A

Bankruptcy

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4
Q

Messages encouraging payment of a bill, usually attached 2 or printed on the monthly statement

A

Claim message

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5
Q

A firm that is in the business of collecting overdue accounts

A

Collection agency

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6
Q

A - balance on a patient account, usually a result of an overpayment

A

Credit balence

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7
Q

A check that exceeds the amounts of funds in a bank account

A

Overdraft

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8
Q

A bill sent 2 a patient that contains not only charges but also payments and adjustments that affects the balance that the patient must pay

A

Patient statement

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9
Q

Account 4 which no billing information is available

A

Skip

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10
Q

Legal requirement 2 disclose the terms of a loan in terms that the borrower can understand

A

Truth in lending

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11
Q

When the office calls the bank 2 tell them not 2 process a check

A

Medical office stop payment

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12
Q

The time between bill payments which frequencies can vary patient 2 patient but r regular intervals

A

Billing cycle

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13
Q

This is when the patient and insurance payments exceeds the allotted charge

Their account balance will b a - # called a credit balance; the medical office owe’s the patient $. The MA will send the patient a check and letter explaining the payment

A

Overpayments and refunds

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14
Q

In 1966, a law was passed that requires the fair treatment of debtors and identifies activities that r permitted and not permitted when contacting individuals who own $

-no frightening, verbally abusive or threatening calls
-no calls b4 8 am or after 10 pm
-may not threaten action that cannot b legally taken or is not
intended 2 b taken

A

Fair Debt Collection Practices Act

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15
Q

Contains: (basic business letter format)
-addresses of medical office and the patient
-date
-reminding patient that their account is 120 days overdue and that
if not paid the office will either file a lawsuit or turn over their
account balance 2 a collection agency
-deadline 4 a response
-each office has their own policies regarding who should sign this
note

Should b sent Certified Mail w/a return receipt requested

A

Collection letter contents

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16
Q

Do’s:
Collect necessary information b4 contacting the patient:
-who owes $
-how much $ is owed
-how long $ has been owed
-if their is any insurance claim pending
-has the insurance company processed the claim and/or made
any payment
When attempting 2 contact the patient, do not tell any1 other than
the patient that the reason 4 the call is debt collection
No misrepresentation 2 trick the patient in2 taking the call
No harassment or intimidation tactics, keep the conversation
pleasant and civil especially when discussing payment options
and obtain a verbal commitment 4 the date of the 1st payment
Follow up verbal agreement w/a letter reminding the patient of their
verbal commitment 2 make payments
No harassment but contacting the patient 2 remind them that they
have a verbal agreement 2 start payments, if passed due date

Don’t’s:
No early or late night calls
Never divulge 2 others that the office is trying 2 collect a debt
Never threaten
Do not end the conversation on vaguer terms-b specific
Do not make repeat calls

A

Guidelines 4 telephone collections

17
Q

Documents that allow patients 2 set up a schedule 2 pay off debt as long as they follow through w/agreed payment dates

If patient makes installments(payments w/out discussing it w/the medical office, this isn’t required

A

Credit agreements

18
Q

Each state has their own laws on how they must work, when they can make calls, what they can say 2 the patient and what tactics they can do 2 collect the payment

They charge 20%-40% of amount owed and no deals can b cut and can’t accept less than the full payment unless a payment plan w/the medical office had already been agreed on

Letter must b sent 2 the patient informing that the office will make no more appointments w/the patient unless they pay up front

Once sent 2 collections, the patient balance is returned to 0

A

Collection agency rules