CIMO Computers In The Medical Office

Aging reports are a tool used by businesses to track and analyze the payment status of their accounts receivable. These reports categorize outstanding invoices based on their due dates, allowing businesses to identify which accounts are overdue and by how much. By using aging reports, businesses can prioritize their collection efforts, follow up with delinquent customers, and take appropriate actions to ensure timely payment. Therefore, the statement "Aging reports are used to determine which accounts are overdue" is true.

The statement is false because by law, the payment plan can include a finance charge. Finance charges are fees or interest that are added to the total amount owed when payments are made over time. Therefore, it is possible for a payment plan to include a finance charge as allowed by the law.

This statement is false because accounts with large balances are more likely to be sent for collections than accounts with small balances. Accounts that are overdue and have larger balances pose a higher risk to the company's financial health and are therefore prioritized for collections.

The given options describe different features or purposes related to a collection tractor account. The correct answer is "tool to track collection accounts" and "tracks collection letters" because both options imply that a collection tractor account is a tool or system used to monitor and manage collection accounts and letters. The last option, "hunts you down with a gun," is unrelated and does not provide a reasonable explanation for a collection tractor account.

A tickler is a term commonly used to refer to a reminder or a follow-up. It is something that prompts or reminds a person to take action or follow up on a certain task or event. Therefore, the correct answer for this question is "reminder" and "followup".

The correct answer is "an agreement to make payment, installment plan." This is because a payment plan refers to an arrangement where a debtor agrees to make regular payments towards a debt over a specific period of time. It often involves dividing the total amount owed into smaller installments that are more manageable for the debtor. In this case, the payment plan does not require the healthcare provider to notify the patient in writing.

The correct answer is a combination of the two statements provided. It is important for healthcare professionals to follow certain laws and regulations when it comes to patient collection. These laws include not calling patients between 8 am and 9 pm, as this is considered outside of acceptable calling hours. Additionally, healthcare professionals should not engage in any form of communication that includes profane language. By adhering to these guidelines, healthcare professionals can ensure that they are respecting patient privacy and maintaining a professional and respectful relationship with their patients.

The answer provided correctly defines an uncollectable account as an account that does not respond to collection efforts. It also mentions that such accounts are typically written off as bad debt. This means that the company has determined that it is unlikely to recover the amount owed by the customer and has decided to remove it from their accounts receivable.