Question 1

Which of the following requires creditors to provide applicants with accurate and complete credit costs and terms?

Accepted Answer

The Truth in Lending Act requires creditors to disclose the accurate and complete credit costs and terms to applicants before extending credit. The Truth in Lending Act requires creditors to provide applicants with accurate and complete credit costs and terms, including the annual percentage rate and the finance charge.

Question 2

A payment arrangement in which the physician decides a patient will be billed every month for the full amount owed and should make whatever payment is possible each month is a(n) ____.

Accepted Answer

The answer of A payment arrangement in which the physician...

Question 3

The process of classifying and reviewing past-due accounts from the first date of billing is a(n) ____.

Accepted Answer

The process of classifying and reviewing past-due accounts from the first date of billing is known as an age analysis. It involves categorizing past-due accounts according to age and determining the appropriate action to be taken to collect the unpaid balance. The process of classifying and reviewing past-due accounts from the first date of billing is called an age analysis, which helps healthcare providers determine which accounts are past due and need to be followed up on for collections purposes. Invoices are bills sent to patients for services rendered, statements summarize outstanding balances owed by patients, a superbill is a document used by healthcare providers to record services rendered, and a collection letter is a written request for payment sent to a patient who has an outstanding balance. None of these items specifically refer to the process of reviewing past-due accounts.

Question 4

A collection letter containing stronger wording that asks the patient to specify when the amount will be paid and to contact the office to make payment arrangements may be sent when an account is ____ days past due.

Accepted Answer

A collection letter with stronger wording is typically sent when an account is 90 days past due, as this is when the account is considered seriously delinquent. This letter should ask the patient to specify when the amount will be paid and to contact the office to make payment arrangements, indicating the urgency and importance of the matter. A collection letter with stronger wording is appropriate when an account is significantly past due. Accounts that are 90 days past due are considered significantly delinquent, and it is appropriate to send a letter requesting payment arrangements at this time.

Question 5

Criteria for hardship cases include patients who ____.

Accepted Answer

Hardship cases typically refer to patients who are facing financial difficulty and may have limited means to pay for medical bills. This includes those who may be poor, underinsured, or elderly and on a limited income. Patients who refuse to pay, have moved without leaving a forwarding address, or have not received an invoice would not necessarily fall under the criteria for hardship cases. Professional courtesy is a separate issue and not directly related to hardship cases. Hardship cases typically refer to patients who are facing financial difficulties and may struggle to pay their medical bills due to being poor, underinsured, or elderly with limited income. Refusing to pay bills, moving without leaving a forwarding address, or receiving professional courtesy are not necessarily indicative of a hardship case. Not receiving an invoice may be a reason for a patient not paying, but it does not necessarily make them a hardship case.

Question 6

A characteristic of a mutual agreement is that ____.

Accepted Answer

A mutual agreement is an arrangement between a healthcare provider and a patient regarding payment. Both parties agree on how much each month's payment will be, which sets it apart from other payment methods where the amount owed may not be determined in advance. A mutual agreement is an agreement between the physician and the patient on how much each month's payment will be. It is not necessarily billing for payment in full monthly or regulated by the Truth in Lending Act. Finance charges may or may not be applied, and it is not generally set up by a collection agency.

Question 7

An initial letter of inquiry is generally sent when an account is ____ days past due.

Accepted Answer

The answer of An initial letter of inquiry is generally...

Question 8

A letter that has a friendly, "we want to help" tone and gives the patient options but makes it clear that the patient must take some sort of action, is most appropriately sent when the account is ____ days past due.

Accepted Answer

The answer of A letter that has a friendly, "we...

Question 9

A written description of the agreed terms of payment between the patient and the physician is a(n) ____.

Accepted Answer

A disclosure statement is a written description of the agreed terms of payment between the patient and the physician.

Question 10

Which of the following should be a factor when you select an outside collection agency?

Accepted Answer

Choosing an agency after a patient has failed to respond to final collection efforts or has broken promises to pay ensures that the agency's services are used as a last resort, aligning with ethical and practical debt collection practices.

Question 11

Which of the following prevents creditors from discriminating against applicants on the basis of age, sex, race, religion, marital status, or income?

Accepted Answer

The Equal Credit Opportunity Act (ECOA) prohibits creditors from discriminating against applicants based on age, sex, race, religion, marital status, or income. The Fair Debt Collection Practices Act regulates the actions of third-party debt collectors, the Truth in Lending Act requires lenders to disclose the terms of a loan, the Fair Credit Reporting Act deals with the accuracy and privacy of credit reports, and the Telephone Consumer Protection Act restricts telemarketing and robocalls. None of these laws directly address credit discrimination based on personal characteristics. The Equal Credit Opportunity Act (ECOA) prevents creditors from discriminating against applicants on the basis of age, sex, race, religion, marital status, or income. The Fair Debt Collection Practices Act (FDCPA) regulates debt collection practices, the Truth in Lending Act (TILA) requires creditors to disclose certain information about loans, the Fair Credit Reporting Act (FCRA) regulates the collection and use of credit information, and the Telephone Consumer Protection Act (TCPA) regulates telemarketing practices.

Question 12

Which of the following protects telephone subscribers from unwanted telephone solicitations?

Accepted Answer

The Telephone Consumer Protection Act protects telephone subscribers from unwanted telephone solicitations by telemarketers. It requires companies to obtain prior express written consent before making automated calls or sending texts to consumers, and provides consumers with the right to opt-out of receiving future calls or texts. The other acts listed do not address telephone solicitations. The Telephone Consumer Protection Act (TCPA) protects telephone subscribers from unwanted telephone solicitations. It sets guidelines for telemarketing calls, automatic dialing systems, unsolicited faxes, and prerecorded messages. The TCPA requires telemarketers to obtain prior express written consent from consumers before calling or texting their cellphones with marketing messages. It also mandates that telemarketers honor the National Do Not Call Registry, which is a list of phone numbers that consumers can add to the registry to block most telemarketing calls.

Question 13

If an account is ____ days past due, send a letter explaining that unless you hear from the patient by a specific date, the account will be given to a specific collection agency for collection.

Accepted Answer

The answer of If an account is ____ days past...

Question 14

Which of the following is also called Public Law 95-109?

Accepted Answer

Public Law 95-109 is the official name for the Fair Debt Collection Practices Act. Public Law 95-109 is the official name of the Fair Debt Collection Practices Act, which governs the practices of debt collectors and protects consumers from deceptive or abusive actions during the debt collection process.

Question 15

An accounts receivable policy ____.

Accepted Answer

An accounts receivable policy ensures that the practice will have sufficient income from successful collections of patient bills, which in turn helps cover expected expenses. An accounts receivable policy ensures that the practice will have sufficient income to cover expected expenses. It outlines the procedures for collecting payments from patients and insurance payers and helps the practice maintain a steady cash flow.

Question 16

Which of the following requires debt collectors to treat debtors fairly and without collection tactics such as harassment, false statements, threats, and unfair practices?

Accepted Answer

The Fair Debt Collection Practices Act (FDCPA) requires debt collectors to treat debtors fairly and prohibits specific tactics such as harassment, false statements, threats, and unfair practices. The other options listed regulate different aspects of consumer credit but do not specifically address debt collection practices. The Fair Debt Collection Practices Act specifically addresses the behavior of debt collectors towards debtors and prohibits certain unfair practices. The other acts listed address different aspects of credit and lending, but do not directly address debt collection practices.

Question 17

Which of the following is a guideline for making a call requesting payment from a patient?

Accepted Answer

It is important to be considerate of the patient's schedule when making collection calls, so calling within reasonable hours is a good guideline to follow. Options A, B, and C are all unprofessional and can potentially be illegal or unethical. Option E is also not practical as patients may have legal representation or designated individuals who handle their affairs. It is important to follow proper etiquette and not call a patient outside of reasonable hours. Typically, calling between 8 a.m. and 9 p.m. is appropriate. It is also important to avoid threatening language or posing as a government official, as this is unethical and illegal. While it may be appropriate to seek advice from colleagues or to only speak with the patient directly, these are not specific guidelines for making a call.

Question 18

If a physician decides not to extend credit to a patient, what must be done according to the Fair Credit Reporting Act?

Accepted Answer

According to the Fair Credit Reporting Act, if a physician decides not to extend credit to a patient, the physician must inform the patient in writing why credit was denied. This is required to ensure transparency and fairness in credit decisions. Therefore, option B is the correct answer.

Question 19

Which of the following requires credit bureaus to supply correct and complete information to businesses for use in evaluating a person's application for credit, insurance, or a job?

Accepted Answer

The Fair Credit Reporting Act requires credit bureaus to supply correct and complete information to businesses for use in evaluating a person's application for credit, insurance, or a job. The other Acts listed address different aspects of consumer protection, such as debt collection, lending disclosures, equal access to credit, and telemarketing regulations. The Fair Credit Reporting Act (FCRA) requires credit bureaus to supply correct and complete information to businesses for use in evaluating a person's application for credit, insurance, or a job. The FCRA also gives consumers the right to access their credit reports and dispute inaccuracies. The other options are related to different laws that regulate debt collection, lending practices, equal credit opportunities, and telemarketing activities.

Question 20

Which of the following governs the methods that can be used to collect unpaid debts?

Accepted Answer

The Fair Debt Collection Practices Act governs the methods that can be used to collect unpaid debts, prohibiting abusive, deceptive, and unfair practices by debt collectors. The other acts listed address different aspects of the credit and debt collection process. The Fair Debt Collection Practices Act governs the methods that can be used to collect unpaid debts, such as prohibiting harassment, false or misleading representations, and unfair practices. The other options listed regulate different aspects of credit and consumer protection, but not specifically the collection of unpaid debts.

Quiz 20: Patient Billing and Collection