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Ch. 17
Billing and collections
Term | Definition |
---|---|
aging accounts | method used to identify how long an account is overdue |
cash flow | amount of available cash that a business maintains to cover expenses |
collection agency | business that recovers bad debts for a percentage of the debt or a fixed fee |
copayment | amount of money a pt pays out of pocket for each office visit |
cycle billing | method of billing that divides pts into groups to which billing statements are mailed at various times throughout the month |
monthly billing | method of billing in which all patients are mailed billing statements on the same date, usually the first of the month |