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CRCS Chapter 5
Credit and Collections
Term | Definition |
---|---|
Cannot pay versus those who will NOT pay | When considering credit and collections, you must recognize and handle people differently who? |
(a) providers (b) criteria | Charity care results from a (a)_______ policy to provide healthcare services free of charge to individuals who meet certain (b)__________. |
(a) partial (b) write-off (c) percentage | If the patient has a monthly income but still falls within the federal poverty guidelines, the provider may elect to provide a (a)______charity (b)________ to the pt and request a certain (c)______ of charges to be paid by the patient |
Lawsuit | Sometimes the only way to collect a debt is to file a __________ against the debtor. |
Statute of Limitations | Another term that refers to the length of time in which a debt can be pursued is? |
Bankruptcy | _________ is a legal proceeding taken when the debts of an individual or company far exceed the assets, and there is presumably no reasonable hope of repayment. |
U.S. court system | Bankruptcy is handled by the ___ _____ _____ within the state of residence. |
70% | What percentage of all bankruptcies claims are filed under Chapter 7. |
Liquidation cases | Most Chapter 11 cases end up as Chapter 7 ________ _______. |
Chapter 12 | This type of bankruptcy is for farmers and provides that oly a family farmer with "regular annual income" may file a petition for relief. |
3 year period | Under Chapter 13, debtors are permitted to repay creditors, in full or in part, in installments over this period timeframe? |
Financial management | Once the bankruptcy case is over, the debtors will have to attend another counseling session, this time to learn personal _____ ______. |
Deceased | Children and other relatives are not legally responsible for the debts of a _________ person. |
Early | Effective follow up with third party payers to improve cash flow and reduce revenue days outstanding begins ________ in the aging process. |
(a) internal (b) contract | A fundamental decision regarding debt collection is whether to allocate (a) _______ resources for this effort or to (b)_______ with a collection agency. |
Bad Debt | Medicare _____ ______ requirements urge an appropriate sequence of collection attempts before an account is referred to third party collections. |
Skip | A _____ is a debtor who cannot be located by a creditor. |
Details | You cannot discuss the _______ of a debt with a employer, relative, neighbor, etc. |
Metrics | Several aspects of credit and collections are monitored, tracked and compared with the use of ? |
AR Days outstanding (Accounts Receivable) | ADRR (Average Days of Revenue in Accounts Receivable) is also known as |