Ch 20 Billing And Collections

Front 1

accounts payable

Back 1

is the term for money owed by the business("in this case able to be paid")

Front 2

accounts recievable

Back 2

is the term for income,or money owed to the business("think able to receive")

Front 3

age analysis

Back 3

is the process of classifying and reviewing past due accounts by age from the first date of billing

Front 4

class action lawsuit

Back 4

is a lawsuit in which one ore more people sue a company that wronged all of them the same way

Front 5

credit

Back 5

doctor gives the patient time to pay for services, which are provided by trust

Front 6

credit bureau

Back 6

is a company that provides information about the creditworthiness of some one seeking credit

Front 7

cycle billing

Back 7

larger practices tend to spread the billing process out over the month

Front 8

damages

Back 8

money paid as compensation for violating legal rights

Front 9

disclosure statement

Back 9

a written description of agreed terms of payments; also called a federal Truth in Lending statement

Front 10

guarantor

Back 10

the patient ,caregiver ,or entity that is responsible for payment of the healthcare bill

Front 11

open-book account

Back 11

an account that is left open to charges that are made on an intermittent basis

Front 12

single-entry account

Back 12

an account consisting of only one charge

Front 13

skip

Back 13

a patient who has moved without leaving a forwarding address and his bill is unpaid

Front 14

statement

Back 14

a form similar to an invoice;contains a courteous reminder to the patient that payment is due

Front 15

statue of limitations

Back 15

a state law that sets a time limit on when a collection suit on a fast due account legally be filed

Front 16

truth in lending statement

Back 16

a written description of the agreed terms of payment between the patient and medical practice when payment will be made in more than four installments

Front 17

written-contract account

Back 17

an agreement between the physician and patient stating that the patient will pay bill in more than four installments