Study Resource: Medical Billing and Collection Practices

School: Macomb Community College - Course: MAST 1200 - Subject: Accounting

Misspelled Words Receivable, limitations 1.Truth-in-Lending Act 2.Fair Debt Collection Practice Act 3.Statute of limitations 4.Collection ratio 5.Accounts receivable ratio Short Answer 1. Previous month's billing backlog, number of new accounts, number of processed accounts, weekly number of accounts that were rebilled, amount of time that billing personnel spent on billing accounts. 2. If there is a bilateral agreement between providers and their patients for payment of medical services in more than four installments, that agreement must be in writing and must provide information on any finance charges.The information must be in writing even if there are no finance charges made. 3. Inability to pay, Negligence, Unwillingness to pay, Third-party payers, Minor. 4. The placement of colored stripes on the ledger cards 5.Past due balance, zero balance, credit balance, government agency category, insurance carrier 6. A listing of each overdue account, balance overdue for each, how long each account has been overdue. 7. To provide an intercept letter. For a nominal fee, the collection agency will send a letter requesting payment before the account is formally turned over for collection. To provide credit ratings of patients at the provider's request. This service allows a practice to monitor patients' abilities to pay their bills, as well as to trace a "skip" (a patient who leaves with an outstanding balance and no forwarding address). 8.X) If there is no known administrator, address the statement to "Estate of [insert patient's name]" and mail to the patient's last known address. X) Mail the account information via certified mail, return receipt, to the administrator of the estate, whose name can be obtained from the probate department of superior court X) If unsure how to proceed, contact the clinic's attorney or the probate court for advice 9. Open book accounts, which may have periodic charges against them; written contracts; and single-entry accounts, which have only one charge against them 10. A,C,D CERTIFICATION REVIEW 1.B 6. A 2.B 7. B 3.B 8. C 4.E 9. D 5.B 10. A

Critical Thinking 1. If your provider accepts Medicare then the elderly widow cannot be billed for anything more than what Medicare allows. However, the other expenses that may be incurred over which you have no control may be difficult for her to pay. An honest discussion with her about what might be expected can be helpful. Provide a list of resources that might also be helpful. 2. personal emotions and sympathy have no bearing on the unpaid account. The provider has a right to be paid for the services. Remain sympathetic, yet firm, in determining a "win-win" solution. You will have to try once again to collect the overdue account. 3. Medical assistants generally would rather take care of patients' physical needs than manage the provider's finances.However, with proper training, education, and practice, can master the art of collections and feel quite comfortable with the process. 4. The first thing to remember is: Do not become defensive. you can explain that there is no guarantee with any treatment; therefore, the amount is still owed to the provider .Follow the policy procedures in the practice and this might be a patient to refer to the clinic manager or the provider.