Provides prompt payment directly from the company minus a 1-5% handling fee (2 wds)
A Practice Act that governs methods used to collect unpaid debts; ie: must call between 8am - 9pm, no threats, etc. (3 wds)
Type of account where $ is owed to practice for services rendered; ensures practice will have sufficient income to cover expenses
Person in town for vacation sees a Dr - set up this type of account (2 wds)
Equal Credit Opportunity Act states Dr practice would pay this percentage of practice net worth if credit applicant pt wins class action lawsuit against them
Act that states creditors can't discriminate against applicant due to age, sex, race, receiving public assistance, etc (3 wds)
Act that states if credit is denied, letter must be sent to explain why & credit bureau must provide accurate info (3 wds)
Type of credit agreement made between dr & pt; pt billed for full amt ea month but pays minimum amt in 4 or less pmts; aka Bilateral
Act involved in credit agreements with 4 or more pmts; part of Consumer Credit Protection Ac (3 wds)
Mailed monthly to pts with outstanding balance; includes total due from last month plus itemized list of new charges = total now due
Acct left open to charges on an intermittent basis as needed; most long-standing pts have this type; use last date of pmt or date of service for billing cycle
Down
A process of classifying & reviewing past-due accounts; done monthly 30-60-90-120 days (2 wds)
Assume patient forgot to pay or was temporarily unable to pay (3 wds)
If account is 120 days past due, letter sent to notify pt their acct may be sent to this agency (per your office policy)
Type of credit sometimes offered to other healthcare professionals (2 wds)
Document that includes new charges, Dx & Procedure codes for services performed that visit; aka "Encounter Form"
Common billing system that bills each patient monthly but spreads the billing work & pmt throughout the whole month; best for Front Office staff & practice cash flow!
Type of account that includes $'s the practice owes to other companies for supplies, utilities, etc
Includes poor, underinsured, or elderly on limited income
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