The learning objectives for this chapter include: List the sections of the CPT manual, giving the code range for each, describe briefly each of the CPT’s general guidelines, list the types of E/M Codes within the CPT, list the areas included in the Surgical Coding Section,. | 20 Patient Billing and Collection Learning Outcomes (cont.) Describe accounts receivable and accounts payable and the common payment methods accepted in medical practices today. Identify the different types of documents used as statements to bill patients and how these documents are used in cycle billing. Compare open book, written-contract, and single- entry accounts, and purpose of creating an accounts receivable aging. Learning Outcomes (cont.) Explain the purposes of the following credit and collections acts: ECOA, FCRA, and FDCPA, and TLA. Relate the required components of a Truth in Lending statement. Summarize two common types of problem collection accounts in the medical office. Introduction Payment arrangements Third-party payers Balance billing Payment plans Outstanding balances You must understand and administer billing as well as payment collection methods Learning Outcomes: Describe accounts receivable and accounts . | 20 Patient Billing and Collection Learning Outcomes (cont.) Describe accounts receivable and accounts payable and the common payment methods accepted in medical practices today. Identify the different types of documents used as statements to bill patients and how these documents are used in cycle billing. Compare open book, written-contract, and single- entry accounts, and purpose of creating an accounts receivable aging. Learning Outcomes (cont.) Explain the purposes of the following credit and collections acts: ECOA, FCRA, and FDCPA, and TLA. Relate the required components of a Truth in Lending statement. Summarize two common types of problem collection accounts in the medical office. Introduction Payment arrangements Third-party payers Balance billing Payment plans Outstanding balances You must understand and administer billing as well as payment collection methods Learning Outcomes: Describe accounts receivable and accounts payable and the common payment methods accepted in medical practices today. Medical practices have customers who have various payment arrangements including third-party payers, balance billing of the patient, patients who require payment plans, and others who have large outstanding balances. A proper understanding and administration of billing for all of these patient situations, as well as payment collection methods is needed. Patient Payments in the Office Management of Accounts receivable (A/R) Accounts payable (A/P) Billing and collections – vital tasks Copayment – immediate collection Learning Outcomes: Describe accounts receivable and accounts payable and the common payment methods accepted in medical practices today. Basic administrative functions involve managing accounts receivable and accounts payable. Accounts receivable (A/R) – income, or money, owed to the business. It represents the money patients and insurance companies owe in return for medical services. Accounts .
