Chapter 10 Insurance

define “cashflow”
amount of actual cash avaible for use by medical practice
to evealuate the effectiveness fot he collection process, what should the insurance billing specailist monitor
The A/R (accounts recievable ) unpaid balances
what should the average amount of accounts recievable be
1.5 to 2 times the charge for 1 month of services
what should 90 day or older accounts not exceed
10% of charges
how should a new patient be informed of office fees and payment policies
all of the above
when is a patient most cooperative in providing details for a complete registration process
before any service are provided
define “professional coutesy”
discount from chargs given to certain perople at the discreation of physicain rendering services
What is most common method of payment in the medical office`
personal check
know how to handle the NSF check that is returned to the medical office
call bank or the patient
what are “dun messages”
message to inform a patient about a deliquent account
what type of billing system is used when practice managemnet software is used
computer billing
define “outsourcing”
obtain goods/services from an outside supploer in a place of an internal source
when should the first statement be presented or mailed to the patient
within 7 days
when should the first telephone call be made to the patient to collect on an account
after there is no repsonse from the third statement
how many installments are necessary for a payment plan to require full written disclousrse
4 or more payments including down payments
when percent of total office accounts receivable should patient accounts that are 90 days or older not exceed
15% to 18% of total accounts recievable
name the federal act that prohibits discrimination in granting credit
truth in lending act
name the act that addressed the collection practices of third-party debt collectors and attorneys
fair debt collection practices act
give the time period of colelction calls to be placed
after 8pm before 9pm
when making collection phone calls, which group of accounts sshould the collector target
accounts of amounts owed
how should accounts be organized to determine where to begin making collection calls
largest amount
define “flextime”
plan in which employees can choose their own working hours from a broad range of hours approved by management
how should a collection letter be written
use friends tone and ask why payment has not been made
what should you do if an insurance company seems to ignore all efforts to trace a claim
history of account
define “netback”
evaluating a collection’s agenices performaces by taking the amount of monies collected (subtracting) agency fees
hat is the purpose of a small claims court
allows lay people to settle a legal matter without use of an attorney
how are most medical bilsl considered in a backruptcy case
insecured debt
what is mean by “wage earner’s bankruptcu”
chapter 13 bankruptsy