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AAHAM CRCS Exam STUDY QUESTIONS AND ANSWERS- CH 5 Credits and Collections
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AAHAM CRCS Exam STUDY QUESTIONS AND ANSWERS- CH 5 Credits and Collections
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AAHAM CRCS Exam STUDY MANUALCH 5 Credits and Collections
Charity Care - Answer -service provided that is never expected to result in cash flow. Charity Care results
from a provider's policy to provide healthcare services free of charge or at a reduced cost to individuals
who meet certain financial criteria.
Indigent - Answer -an individual who has no means of paying for medical services or treatments and is
not eligible for benefits under Medicaid or any other public assistance program
bad Debt - Answer -an uncollectible account resulting from the extension of credit. examples of bad
debt include patients who default from payment arrangements, skip, file bankruptcy without assets, or
have insolvent estates, and guarantors who refuse to pay.
statute of limitations - Answer -the amount of time in which a claim must be collected before it is
deemed paid or satisfied. No legal proceedings can be initiated after the statue of limitations expires.
How are periods of statute limitations determined - Answer -vary from state to state. Limitation periods
are usually: LESS for open-end accounts or oral agreements
GREATER for notes or written agreements
GREATEST for judgements.
, When Can the statute of limitations be extended? - Answer -May be extended under the following
circumstances:
-Obtaining a written 'promise to pay',
-or a partial payment on the principal account,
-reducing the account to judgement immediately,
-executing a new contract with the guarantor whereby the creditor gives new consideration in exchange
for a promise to pay.
What must a written collection policy include? - Answer -Admission policy,
-Minimum Acceptable payments,
-follow up policy including the title/role of the person
-public relations policy,
-charity care requirements and protocols,
-discount policy,
-practice of charging interest,
-contract amount implications,
-age when an account is considered uncollectible and prepared for a bad-debt write-off, -
determination/verification of responsible party,
-process for handling errors/complaints
Self-pay options - Answer -can include: cash or check, credit cards, HSA, credit union funds, cash from
sale of assets, loan programs, money transfers Money orders
Advantages to credit card payment - Answer -Immediate payment, can accept over phone, can get prior
auth to charge after insurance pays.
disadvantages to credit card payment - Answer -additional costs to use cc company, must follow credit
card industry regulations, potential pr problems
extended payment plans - Answer -if other self-payment options are not viable, the provider can offer
extended payment plan to boost cash flow: monthly installments, periodic payments, finance charges,
and other pmt plan arrangements.
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