Question

2.1
When evaluating the debt tolerance of your practice, which of the following factors does not need to be considered?

A) The claiming system you have put in place and how long claims will take to process
B) Your own attitude towards risk and debt tolerance
C) Your patient billing methods
D) Your patient population and their ability to pay

2.2
What would be the best strategy to implement to reduce the likelihood of client debt within your practice?

A) Exclusively use fee-for-service billing, with all available patient claiming options.
B) Evaluate your client population, but still implement a 'one size fits all' billing methodology to ensure no debt is accrued.
C) Enact multiple debt recovery strategies, including engaging debt collection agencies if required.
D) Evaluate your client population, and implement billing and patient claiming methods based on the risk of debt within that population.

2.3
What is the most effective approach to debt recovery within a medical practice?

A) Engage a debt recovery agency that uses heavy-handed techniques to ensure that all debts are recovered.
B) Prevention is better than recovery - combine stringent accounting systems with a requirement for on-the-spot payment and claiming where possible.
C) Only bother trying to chase up accounts that are 90 days overdue or over, as these are the least likely to be paid.
D) Increase your service fee by 20% for all customers, just in case some accounts don't get paid.

2.4
'Proactive accounting' is often the best approach for medical practices. Proactive accounting for a practice can be best described as the following:

A) Setting timelines for acceptable payment terms, creating internal alerts for overdue invoices, and only implementing debt recovery after all other options have been exhausted.
B) Training all staff in the practice on debt recovery, so more people can be involved if necessary.
C) Implementing heavy-handed debt-recovery as soon as an invoice becomes outstanding.
D) Creating stringent payment terms and forcing customers to comply.

2.5
Collecting with care is very important in medical practices. Collecting with care can be defined as:

A) Implementing a slow and calm approach, allowing at least one contact from the practice before outsourcing to debt collection.
B) Outsourcing to a debt collection agency once the invoice becomes outstanding.
C) Advising the debt collection agency to implement a slow and calm approach.
D) Repeatedly contacting patients after 3 months has passed to demand payment.

2.6
What strategy would not increase the likelihood of successful debt collection?

A) Implementing a tactful and professional approach to all debt collection conversations.
B) Conducting panicked phone calls when invoices are 120 days overdue.
C) Training all medical customer service staff on debt collection etiquette.
D) Investigating debt collection agencies before appointing an appropriate one.

2.7
Which of the following indicators can be used to monitor the debt level of a medical practice? Select 2 (two) answers.
A) Medicare Easyclaim and Medicare Online.
B) Accounts payable - patient claims and bulk billing.
C) Days in account receivable outstanding (DRO).
D) Ageing accounts receivable - balance over 120 days.

2.8
What does the indicator 'Days in Accounts Receivable Outstanding' tell you about the debt level of your practice?

A) How much debt you have that is overdue by 90 days or more
B) How many days, on average, patients take to pay their outstanding debt to your practice
C) How many days you have had a certain level of patient debt for
D) How long it takes on average to collect a day's worth of gross charges

Answer 1

2.1. The answer is B because while evaluating debt intolerance by a nurse she should not consider her own attitude towards risk and debt tolerance because the patient is the one who clearing the debt.

The options a A,C,and D is incorrect because if evaluating the debt tolerance nurse have to consider all these things.

2.2. The answer is C because enacting multiple debt recovery strategies, including engaging debt collection agencies are the best methods of debt collection

The options A,B and D are incorrect because in debt collection these are not practical ways.

2.3. The answer is A. because this is the most effective way in debt recovery.

The options B,Cand D are incorrect because they are not practical.