Question 1

Under the Federal Trade Commission's rules, it is not legal to

Accepted Answer

A)   identify the practice where the debt was incurred.
B)   contact a patient via mail.
C)   contact a patient who wants calls to be made to an attorney.
D)   discuss the patient's balance during collection calls.E) B) and C)
F) None of the above

Question 2

What is a summary of the financial transactions that occur each day?

Accepted Answer

A)   financial policy
B)   day sheet
C)   account ledger
D)   patient statementE) None of the above
F) B) and C)

Question 3

Which of the following employees learns and applies the correct techniques for effective follow-up of overdue accounts, as well as is most likely to work directly with patients?

Accepted Answer

A)   collections manager
B)   billing manager
C)   collections specialist
D)   patient account representativeE) None of the above
F) B) and D)

Question 4

Which law required consumer reporting agencies to have reasonable and fair procedures?

Accepted Answer

A)   HIPAA
B)   FACTA
C)   FCRA
D)   FDCPAE) A) and B)
F) A) and C)

Question 5

Which of the following is the cost of a borrower's credit calculated as an annual rate?

Accepted Answer

A)   payment schedule
B)   annual percentage rate
C)   finance charge
D)   amount financedE) C) and D)
F) B) and D)

Question 6

When patients are scheduled to have major, expensive procedures, the practice's policy may be to set up

Accepted Answer

A)   coinsurance plans.
B)   postpayment plans.
C)   deductibles.
D)   prepayment plans.E) B) and D)
F) A) and D)

Question 7

FACTA is the acronym for

Accepted Answer

A)   Fair and Acceptable Credit Transfer Act.
B)   Fair and Accurate Credit Transfer Act.
C)   Fair and Acceptable Credit Transaction Act.
D)   Fair and Accurate Credit Transaction Act.E) B) and C)
F) B) and D)

Question 8

Who is responsible for regulating the hours during which collection calls may be made?

Accepted Answer

A)   FDCPA
B)   there is not any regulation on what hour collection calls can occur
C)   both the FDCPA and the Telephone Consumer Protection Act
D)   Telephone Consumer Protection ActE) A) and B)
F) None of the above

Question 9

When money needs to be paid back to patients because the practice has overcharged a patient for a service, it is known as a

Accepted Answer

A)   bad debt.
B)   patient refund.
C)   patient credit.
D)   write off.E) B) and C)
F) A) and D)

Question 10

A practice's retention schedule protects the

Accepted Answer

A)   payer.
B)   provider.
C)   patient.
D)   both the provider and the patient.E) A) and B)
F) None of the above

Question 11

Which law requires disclosure of finance charges and late fees for payment plans?

Accepted Answer

A)   Telephone Consumer Protection Act
B)   FDCPA
C)   Truth in Lending Act
D)   FACTAE) A) and B)
F) None of the above

Question 12

Which of the following functions involves a process to follow up on overdue accounts?

Accepted Answer

A)   collections
B)   fund recording
C)   audits
D)   billingE) B) and C)
F) C) and D)

Question 13

Under guarantor billing, which of the following is true?

Accepted Answer

A)   The insured, instead of the patient if they are not the same person, receives a practice's bill for services.
B)   The insurance company will send out a bill to the guarantor.
C)   The patient received a practice's bills for services.
D)   The guarantor has to request whom the bill is sent to.E) B) and D)
F) B) and C)

Question 14

The term "credit reporting" applies to

Accepted Answer

A)   physicians.
B)   insurance companies.
C)   consumers.
D)   clinics and facilities.E) None of the above
F) A) and B)

Question 15

The type of patient billing that spreads out the workload of mailing statements is called

Accepted Answer

A)   guarantor billing.
B)   beginning-of-month billing.
C)   cycle billing.
D)   end-of-month billing.E) B) and D)
F) All of the above

Question 16

A __________ is a log of how long various types of documents must be stored for a particular practice.

Accepted Answer

A)   payment plan
B)   retention schedule
C)   credit reporting
D)   patient refundsE) A) and D)
F) A) and B)

Question 17

When a person receives a legal declaration of the inability to pay debts, it is called

Accepted Answer

A)   bankruptcy.
B)   prepayment plan.
C)   means test.
D)   credit reporting.E) A) and B)
F) B) and C)

Question 18

In cycle billing, how often does the practice mail all patient statements?

Accepted Answer

A)   once a month
B)   daily
C)   at intervals during the month
D)   once a weekE) A) and B)
F) None of the above

Question 19

A patient statement is

Accepted Answer

A)   a bill that is sent to the patient by the insurance after the insurance has made a payment.
B)   a bill that is sent to a patient for medical services that have been provided.
C)   a bill that is sent to the patient after the insurance pays their portion.
D)   a bill that is sent to the patient by the insurance after a bill is received.E) C) and D)
F) B) and D)

Question 20

The __________ totals the transactions that were posted to all patient ledgers on a particular business day.

Accepted Answer

A)   patient statement
B)   walkout receipt
C)   day sheet
D)   collection ratioE) None of the above
F) All of the above

Exam 14: Patient Billing and Collections

The term "credit reporting" applies to

Correct AnswerverifiedShow Answer

The type of patient billing that spreads out the workload of mailing statements is called

Correct AnswerverifiedShow Answer

Which law requires disclosure of finance charges and late fees for payment plans?

Correct AnswerverifiedShow Answer

Under guarantor billing, which of the following is true?

Correct AnswerverifiedShow Answer

A practice's retention schedule protects the

Correct AnswerverifiedShow Answer

In cycle billing, how often does the practice mail all patient statements?

Correct AnswerverifiedShow Answer

Who is responsible for regulating the hours during which collection calls may be made?

Correct AnswerverifiedShow Answer

Which of the following employees learns and applies the correct techniques for effective follow-up of overdue accounts, as well as is most likely to work directly with patients?

Correct AnswerverifiedShow Answer

Which law required consumer reporting agencies to have reasonable and fair procedures?

Correct AnswerverifiedShow Answer

When patients are scheduled to have major, expensive procedures, the practice's policy may be to set up

Correct AnswerverifiedShow Answer

Which of the following functions involves a process to follow up on overdue accounts?

Correct AnswerverifiedShow Answer

Under the Federal Trade Commission's rules, it is not legal to

Correct AnswerverifiedShow Answer

FACTA is the acronym for

Correct AnswerverifiedShow Answer

What is a summary of the financial transactions that occur each day?

Correct AnswerverifiedShow Answer

The __________ totals the transactions that were posted to all patient ledgers on a particular business day.

Correct AnswerverifiedShow Answer

A __________ is a log of how long various types of documents must be stored for a particular practice.

Correct AnswerverifiedShow Answer

When money needs to be paid back to patients because the practice has overcharged a patient for a service, it is known as a

Correct AnswerverifiedShow Answer

A patient statement is

Correct AnswerverifiedShow Answer

Which of the following is the cost of a borrower's credit calculated as an annual rate?

Correct AnswerverifiedShow Answer

When a person receives a legal declaration of the inability to pay debts, it is called

Correct AnswerverifiedShow Answer

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