Chapter 18: Patient billing, posting patient payments, and collecting fees
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A person who owes money but cannot be located
Outsourcing
An arrangement by which a task, operation or job that could be performed by employees within a company is instead contracted to another company
ATOS
At the time of service.
bankruptcy
Being legally declared unable to pay debts
Viability
Capable of normal growth and development
DOS
Date of service. The calendar date a service beings or is provided
Alpha search
Look by alphabetical order
Accounts receivable
Money owed to the practice by the patients
NSF
Nonsufficient funds. Returned check because patient does not have enough money in the bank account to cover the amount of the check
PMS
Practice management software. A type of medical office software that provides the medical office the electronic components to deal with day to day financial operations of a medical practice, and frequently includes the ability for appointment scheduling, patient registration, charge and payment posting, and insurance and billing
Aging of accounts
The amount due is either current, over 30 days, over 60 days and over 90 days
Account history
The past financial record
Antagonize
To annoy; to arouse opposition
TILA
Truth in lending act. Federal law designed to protect consumers in credit transactions; it specifies that when there is an agreement between the physician and a patient to accept payment in more than four installments, the physician is required to provide disclosure of finance charges
Idle
Uninvolved; doing nothing. If you state that account will be sent to collections you are required by federal law to do so. Cannot make idle threats.
YTD
Year to date. Begins with the first date of the calendar year to present
Expended
spent or used, as with money or energy