Question 1

A(n) ________ account uses the last date of payment or charge for each illness as the starting date for determining the time limit on that specific debt.

Accepted Answer

The answer of A(n) ________ account uses the last date...

Question 2

A(n) ________ account is an account with only one charge, usually for a small amount.

Accepted Answer

The answer of A(n) ________ account is an account with...

Question 3

A credit ________ is a company that provides information about the creditworthiness of a person seeking credit.

Accepted Answer

The answer of A credit ________ is a company that...

Question 4

According to the Equal Credit Opportunity Act, how much will a practice have to pay if a credit applicant joins and wins a class action lawsuit against the practice?

Accepted Answer

The Equal Credit Opportunity Act stipulates that in a class action lawsuit, the liable party may have to pay up to $500,000 or 1% of the net worth of the practice, whichever is less. This is designed to limit the financial damage to the practice while still providing a deterrent against discriminatory credit practices.

Question 5

You are working at a walk-in outpatient clinic. A young woman who appears to be in her 20s comes in with a large cut on her left arm. When you ask for her insurance information, she says, "I don't need insurance. My father is the chief physician in this clinic. He'll treat me for free." What should you do?

Accepted Answer

Checking with the physician or office manager is the most appropriate action to verify the claim and determine the correct course of action.

Question 6

Bills sent to patients that contain an itemized accounting of services performed, an indication of payments received from the patient or the patient's insurance, and an amount due to the practice are called ________.

Accepted Answer

The answer of Bills sent to patients that contain an...

Question 7

Adrian is a patient whose parents were killed in a skiing accident a few months ago. Adrian was involved in an automobile accident this morning. He refused ambulance transport and a friend brought him to your office because he needed only minor wound care. He turned 21 last week, so he is legally an adult. He tells you he has no insurance and doesn't know how he will pay for his care. Adrian might be a candidate for ____.

Accepted Answer

Adrian is a candidate for a hardship case because he has no insurance and doesn't know how he will pay for his care.

Question 8

When is it appropriate for a medical provider to assess finance charges or late charges on past-due accounts?

Accepted Answer

It is appropriate for a medical provider to assess finance charges or late charges on past-due accounts only when the patient has been notified in advance. This ensures transparency and fairness, allowing the patient to be aware of potential additional charges due to late payments.

Question 9

A federal Truth in Lending Statement, which is a written description of the agreed terms of payment, is also called a(n) ________ statement.

Accepted Answer

The answer of A federal Truth in Lending Statement, which...

Question 10

Which of the following information about a patient should a medical assistant provide to the collection agency?

Accepted Answer

The date of the last payment or charge on the account is relevant to the collection process as it helps the agency understand the account's status and any recent activity. Other options like income, educational level, ability to pay, and names of other physicians are considered private and are not necessary for the collection process, thus should be protected for patient privacy and confidentiality.

Question 11

A common billing system that bills each patient only once a month but spreads the work of billing over the entire month, sending statements to groups of patients every few days, is called ________ billing.

Accepted Answer

The answer of A common billing system that bills each...

Question 12

The statute of ________ is the state law that sets a time limit on when someone can legally file a collection suit on a past-due account.

Accepted Answer

The answer of The statute of ________ is the state...

Question 13

Mrs. Patterson brings her 17-year-old daughter Kelly in for a prenatal exam. When you inform Mrs. Patterson of the amount owed for today, she exclaims, "Oh, no! Kelly moved out last week and is staying with the rascal that did this to her. She can pay for her own care!" What should you do?

Accepted Answer

If Kelly is considered an emancipated minor, she would be responsible for her own medical bills. Legal evidence of emancipation would clarify her financial responsibility.

Question 14

Which of the following states that creditors may not discriminate against an applicant because he or she receives public assistance?

Accepted Answer

The Equal Credit Opportunity Act (ECOA) prohibits creditors from discriminating against applicants on the basis of race, color, religion, national origin, sex, marital status, age, or because all or part of the applicant's income derives from any public assistance program.

Question 15

When you ask Mrs. Redding how she would like to pay the $48 she owes for today's services, she hands you a credit card. When you look at the card, you realize that the card expired two months ago. Which of the following would be your best response to Mrs. Redding?

Accepted Answer

DBoth options A and D offer a polite and professional response to the situation, focusing on finding a solution rather than placing blame or causing embarrassment.

Question 16

If practitioners allow patients to pay for services over time, they are extending ________ to the patient.

Accepted Answer

The answer of If practitioners allow patients to pay for...

Question 17

The money the medical practice must pay out to run the practice is called accounts ________.

Accepted Answer

The answer of The money the medical practice must pay...

Question 18

The process of classifying and reviewing past-due accounts by age from the first date of billing is called ________.

Accepted Answer

The answer of The process of classifying and reviewing past-due...

Question 19

A(n) ________, or encounter form, includes the charges for services rendered on that day, a request for payment or insurance copayment, and all the information for submitting an insurance claim.

Accepted Answer

The answer of A(n) ________, or encounter form, includes the...

Question 20

The term for income, or money, owed to the practice is called accounts ________.

Accepted Answer

The answer of The term for income, or money, owed...

Quiz 20: Patient Collections and Financial Management