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ValeriusBayesNewbySeggern: Medical Insurance: An Integrated Claims Process Approach, Third Edition V. Payment Processing 15. Patient Billing and Collections The McGrawHill Companies, 2008 484 Patient Billing and Collections C H A P T E R O U T L I N E Patient Billing Organizing for Effective Collections Collection Regulations and Procedures Credit Arrangements and Payment Plans Collection Agencies and Credit Reporting Skip Tracing Writing Off Uncollectible Accounts Record Retention Learning Outcomes After studying this chapter, you should be able to: 1. Discuss the ways practices explain their financial policies to patients. 2. Describe the purpose and content of patients statements and the procedures for working with them. 3. Compare individual patient billing and guarantor billing. 4. Discuss the responsibilities of a collection specialist, and describe other positions that are typically part of the billing and collections function. 5. Describe the processes and methods used to collect out- standing balances due to the medical practice. 6. Explain how the medical practice can pursue patients who have not paid their overdue bills. 7. Discuss the tools that can be used to locate unresponsive or missing patients. 8. Describe the procedures for clearing uncollectible balances from the practices accounts receivable. 9. Explain the purpose of a retention schedule and the re- quirements for retaining patient information. ValeriusBayesNewbySeggern: Medical Insurance: An Integrated Claims Process Approach, Third Edition V. Payment Processing 15. Patient Billing and Collections The McGrawHill Companies, 2008 CHAPTER 15 Patient Billing and Collections 485 Patients are responsible for payment of all medical treatment and services provided. Lets discuss your bill and see if we can set up a payment plan that works for you. Patient billing and collections, the last steps in the billing and reimburse- ment process, involves: Generating and mailing patient statements to show the balances that pa- tients owe Posting patients payments Examining aging reports for patients accounts and handling collections Medical practices have financial policies to regulate the billing of patients and the procedures used to collect money they are owed. Each administrative staff member contributes to effective patient collections and thus to the financial vi- ability of the practice. All the money owed, though, cannot always be collected. Some patients do not pay their bills, and special circumstances cause a practice to write off the accounts of others. However, in all cases, the practice must comply with state and federal laws during collection activities and by main- taining patient records and information.... View Full Document

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