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CRCS Chapter 5

Credit and Collections

TermDefinition
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
Created by: Copa