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Billing and Collections/Accounting Practices

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Study Guide Chapters 20 & 21
Answers
Preventing collection problems   show
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Billing System-Monthly   show
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show Staggers bills during the month and is a flexible system for large practices.  
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show Payer of last resort.  
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show According to the Truth-In-Lending Act, requires providers to submit in writing charges of interest to a patient's account. Payment for medical services in more than 4 installments.  
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show Sent to the patient after 3 months.  
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show Minimum ratio of 90% for collection of fees.  
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Collection ratio   show
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Accounts receivable ratio   show
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show A patient declares bankruptcy to all debtors and is allowed to clear all debts and start fresh. Statements may no longer be sent nor any attempt be made to collect delinquent accounts.  
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show Statements are generated by the computer. Provide a means to manipulate more information.  
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show Time frame payment received in the office. Recommended billing policy/practice.  
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show Employee's Withholding Allowance Certificate, completed by all employees.  
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show Fixed cost are costs that do not vary in total as the number of patients vary. Variable costs are those that vary in direct proportion to patient volume such as clinical supplies and laboratory procedures.  
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Small Claims Court   show
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show Collection of fees must be directed to the executor of the estate or the one responsible for overseeing the estate.  
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show Sending to collection agency  
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show Defines the period in which legal action may take place.  
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What hinders collections of fees?   show
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Legal and ethical guidelines for making collection calls.   show
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Legal and ethical guidelines for making collection calls.   show
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Legal and ethical guidelines for making collection calls.   show
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Legal and ethical guidelines for making collection calls.   show
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show 6. Do not threaten to turn the person's account over to collection agencies.  
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