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FINANCES in the MEDICAL OFFICE

           MA1240 The Nervous System - Phase 2
Horizontales
Includes the balance from last month & an itemized list of new charges
Assume patient forgot to pay or was temporarily unable to pay (3 wds)
May be poor, underinsured, or elderly and on a limited income
Person in town for vacation sees a Dr - set up this type of account (2 wds)
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, a letter must be sent explaining why (3 wds)
Provides prompt payment directly from the company minus a 1-5% handling fee (2 wds)
Common billing system that bills each patient 1x ea month but spreads the billing work & pmts over the whole month; good for billing staff & cash flow!
Document that includes charges & procedure codes for services rendered on that day
Account used for long-standing pts as needed; use last date of pmt or date of service for each illness for billing cycle
Process of classifying & reviewing past-due accounts; done monthly (2 wds)
Verticales
Type of account where $ is owed to practice; it ensures practice will have sufficient income to cover expected expenses
If account is 120 days past due, send letter to notify pt that acct is being sent to this agency
Type of credit often given to other healthcare professionals (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
Practice Act that governs methods you can use to collect unpaid debts; call between 8 am & 9 pm, no threats, etc. (3 wds)
Type of account that includes $ the practice owes to other companies for supplies, etc
Act that requires credit bureau to supply correct & complete info to others to evaluate for a loan (3 wds)