Chapter 18: Patient billing, posting patient payments, and collecting fees

Skip

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