Fees, Billing, Collections and Credit 15 Fees, Billing, Collections and Credit

The fee is determined by the physician or the practice’s partners as a result of taking into consideration the time and services involved, as well as the prevailing fee in the community True False

Notify them of office financial policies, It is necessary to initiate a discussion of fees with patients prior to an exam or procedures to Inform them of costs, Notify them of office financial policies, Notify them of credit procedures prior to examinations and procedures All of the above

Patients are not entitled to an accurate estimate of their obligations prior to receiving care True False

Posted information regarding payment policies and fees helps patients become aware of office procedures True False

Most physicians expect payment for service at the time of service True False

HMO stands for Health Maintenance Occupation Health Maintenance Organization Home Medical Organization Health Medical Organization

A Superbill is also known as Encounter form Charge slip A and B None of the above

The superbill can be used to Input computer information for billing, Provides the patient with a record of the account activity As a receipt All of the above

The ledger card is used to Record the charges Show the adjustments, payments, and current balance for the patient and Can be used to generate the monthly statement All of the above

Accurate information is absolutely necessary when billing patients True False

Most medical offices have converted to computerized billing because it is more cost effective and efficient True False

A third-party payer is The party or person other than the patient An insurance company, Who may be responsible for paying the patient’s bill All of the above

A signed assignment of benefits form ensures that insurance payments are Made directly to the physician Sent to the patient Paid in a timely manner None of the above

Payment is often collected at the time of service means Before the service is provided Immediately after the service is provided A or B None of the above

Accounts that are extremely overdue become very difficult and costly to collect True False

The reasons why a patients’ bill is outstanding may include The patient does not feel that the bill is important. The patient believes that insurance will cover the bill The patient is unable to pay Any of the above

Collection techniques may include Reminder notices Telephone calls Collection letters All of the above

A telephone call at the right time and in the right manner can be more effective than a letter to collect a delinquent account True False

When notice is received of a patient’s bankruptcy, all collection attempts must cease and the medical office must file a claim for payment with the courts True False

Accounts payable (AP) are the amounts the physician owes to others for Supplies Equipment Services All of the above