Question 1

Cash flow is the

Accepted Answer

ongoing availability of cash i the medical practice

Question 2

When insurance carriers do not pay claims i a timely manner, what effect does this have on the medical practice?

Accepted Answer

decreased cash flow

Question 3

What does the insurance billing specialist need to monitor to be able to evaluate the effectiveness of the collection process

Accepted Answer

Accounts receivable

Question 4

The average amount of accounts receivable should be ..... times the charges for one month of services

Accepted Answer

1.5 to 2

Question 5

Accounts that are 90 days or older should not exceed ..... of the total accounts receivable

Accepted Answer

15% TO 18%

Question 6

What should be done to inform a new patient of office fees and payment policies

Accepted Answer

Send a patient information brochure, send a confirmation letter, and discuss fees and policies at the time of the initial contact (all)

Question 7

The patient is likely to be the most cooperative in furnishing details necessary for a complete registration process

Accepted Answer

before any services are provided

Question 8

The reason for a fee reduction must be documented in the patients

Accepted Answer

medical record

Question 9

Professional courtesy means

Accepted Answer

making no charge to anyone, patient or insurance company, for medical care.

Question 10

When collecting fees, your goal should always be to

Accepted Answer

collect the full amount

Question 11

A medical practice has a policy of billing only for charges in excess of $50. When the medical assistant requests a $45 payment for the office visit, the patient states, just bill me. How should the medical assistant respond?

Accepted Answer

State the office policy and ask for the full fee

Question 12

The most common method of payment in the medical office is

Accepted Answer

personal check

Question 13

When the physicians office receives notice that a check was not honored, the first thing to do is to

Accepted Answer

call the bank or the patient

Question 14

Accounts receivable are usually aged in time periods of

Accepted Answer

30, 60, 90 and 120 days

Question 15

Messages included on statements to promote payment are called

Accepted Answer

dun messages

Question 16

What is the type of billing system in which practice management software is used

Accepted Answer

Computer billing

Question 17

Employment of a billing service is called

Accepted Answer

outsourcing

Question 18

The first statement should be.....of service

Accepted Answer

presented at the time

Question 19

The first telephone call to the patient to try to collect on an account should be made

Accepted Answer

after there is no response from the third statement

Question 20

What is a card called that permits bank customers to make cashless purchases from funds on deposit without incurring revolving finance charges for credit?

Accepted Answer

debit card

Question 21

How many installments (excluding a down payment) must a payment plan have to require full written disclosure

Accepted Answer

four or more

Question 22

Patient accounts that are 90 days or older should not exceed what percent of the total office accounts receivable

Accepted Answer

15% to !8%

Question 23

What is the name of federal act that prohibits discrimination in all areas of granting credit

Accepted Answer

Equal Credit Opportunity Act

Question 24

What is the name of the act designed to address the collection practices of third party debt collectors and attorneys who regularly collect debts for others

Accepted Answer

Fair Debt Collection Practices Act

Question 25

All collection calls should be placed after ..... am and before .....pm

Accepted Answer

8; 9

Question 26

Which group of accounts would a collector target when he or she begins making telephone calls

Accepted Answer

60-90 day accounts

Question 27

In making collection telephone calls to a group of accounts, how should the accounts be organized to determine where to begin

Accepted Answer

Organize the accounts according to amounts owed and start with the largest

Question 28

A plan in which employees can choose their own working hours from within a broad range of hours approved by management is called

Accepted Answer

flex time

Question 29

When writing a collection letter

Accepted Answer

use a friendly tone and ask why payment has not been made

Question 30

If an insurance company seems to be ignoring all efforts to trace a claim, send a copy of the

Accepted Answer

history of the account

Question 31

Netback is a term used to describe

Accepted Answer

a collection agency\'s performance

Question 32

The part of the legal system that allows laypeople to settle a legal matter without use of an attorney is

Accepted Answer

small claims

Question 33

In a bankruptcy case, most medical bills are considered

Accepted Answer

unsecured debt

Question 34

Which type of bankruptcy is considered wage earners bankruptcy

Accepted Answer

Chapter 13

Question 35

The word ..... comes from a Latin word that means to believe or to trust

Accepted Answer

credit

Question 36

The unpaid balance due from patients for services that have been rendered is called

Accepted Answer

accounts receivable

Question 37

the relationship of the amount of money owed to a physician and the amount of money collected on the physicians accounts receivable is called the

Accepted Answer

collection ratio

Question 38

The patient information sheet is also known as the

Accepted Answer

Patient registration information form

Question 39

The patient registration form should be updated at least every

Accepted Answer

6 months

Question 40

All discounted fees need to be noted on the patient

Accepted Answer

financial accounting record

Question 41

Assets or debts that have been determined to be uncollectible and are therefore taken off (debited) the accounting books as a loss are called

Accepted Answer

write off or courtesy adjustment

Question 42

The amount due listed on the patients financial accounting record is also referred to as the account

Accepted Answer

balance

Question 43

In the endorsement on the back of the payment check does not match the name on the front, there may be a case of

Accepted Answer

forgery

Question 44

The procedure of systematically arranging the accounts receivable by age from the date of service is called

Accepted Answer

age analysis

Question 45

The statement, This bill is now 30 days past due. Please remit payment, is called a

Accepted Answer

dun message

Question 46

An outside party who takes over the task of preparing and mailing statements is known as a

Accepted Answer

billing service

Question 47

The term ..... is used when accounts are billed at spaced intervals during the month

Accepted Answer

cycle billing

Question 48

the Truth in Lending Consumer Credit Cost Disclosure requires businesses to disclose all ..... and ..... costs related to granting credit

Accepted Answer

direct and indirect

Question 49

A formal regulation or law setting time limits on legal action is know as a

Accepted Answer

statute of limitations

Question 50

The maximum time during which legal collection suit may be rendered against a debtor is referred to as an

Accepted Answer

statute of limitations

Question 51

According to the FDCPA do not contact a third party more than ..... unless requested to do so by the party or the response was erroneous or incomplete

Accepted Answer

once

Question 52

the collection abbreviation TTA means

Accepted Answer

turned to agency

Question 53

The collection abbreviation OOT means

Accepted Answer

out of town

Question 54

When dealing with managed care contracts, do not sign contracts that use the ..... clause because this is a way for one party to shift financial responsibilities to another party

Accepted Answer

hold harmless

Question 55

Patients accounts turned over to a collection agency should have a ..... sent by certified mail

Accepted Answer

letter of withdrawal

Question 56

In filing a claim in small claims court the physicians office is referred to as the .....

Accepted Answer

plaintiff

Question 57

A patient who owes a balance on his or her account and moves but leaves no forwarding address is called a

Accepted Answer

skip

Question 58

In dealing with an estate claim, a call to the ..... can be made periodically to check on the status of the estate

Accepted Answer

executor

Question 59

A ..... is a claim on the property of another as security for debt

Accepted Answer

lien

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