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Terms in this set (20)
Collection Agency
(An outside firm hired to collect on delinquent accounts)
Collection List
(A tool for tracking activities that need to be completed as part of the collection process)
Collection Tracer Report
(A tool for tracking collection letters that were sent)
Payment Plan
(An agreement between a patient and a practice in which the patient agrees to make regular monthly payments over a specified period of time)
Prompt Payment Laws
(Legislation that mandates a time period within which clean claims must be paid; if they are not, financial penalties are levied against the payer)
Tickler
(A reminder to follow up on an account)
Timely Filing
(A time period within which claims must be filed with an insurance carrier)
Uncollectible Account
(An account that does not respond to collection efforts and is written off the practice's expected accounts receivable)
Write-off
(A balance that is removed from a patient's account)
A claim denial tracing log lists the reason a claim was denied payment, the action taken to correct the problem, and the status of the _____
resubmission
According to the Commonwealth Fund, _____ of Americans ages 19-64 had problems paying or were unable to pay medical bills in 2012
30 percent
General guidelines for telephone collection practices recommend not calling before 8:00 a.m. or after _____
9 p.m.
A new payment plan is created by selecting Patient Payment Plan on the _______ menu
Lists
What is the two-digit payment code used to enter a payment from a collection agency
04
An account that must be written off the practice's expected accounts receivable is called an ________
uncollectible account