Question

Assignment- Collecting Payments

Use the information provided in Chapter 19 "Patient Accounts and Practice Management" of the text and/or any other sources you have if necessary. Copy and Paste your assignment on a separate MS word document or compatible file, and submit your completed assignment electronically via Moodle prior to due date.

Collecting Payments

When insurance companies and patients pay for medical services, the medical biller is responsible for collecting and maintaining all payments. The medical biller must also contact the insurance company or the patient regarding late payments. Since medical billers are responsible for handling the revenue for a health care facility, they must process all payments received. They use math to keep track of the amount of payments received and outstanding payments.

Medical billers are responsible for resolving payment errors. For example, if a patient sees an error regarding a payment, medical billers must use math to recalculate the charges and send a new invoice to the patient or insurance company. Medical billers also act as the link between patients and insurance companies by answering various payment questions. They inform patients about any treatments not covered by their health insurers and use math to calculate charges.

Professional Fees, Billing and Collecting

Determine the following balances. Please highlight your answers.

1. Paula Bailey paid $50 on her balance of $450. If insurance pays $122 and Paula makes another $50 payment,what is her balance?

2. Sandra Cox had a balance of $329. She wrote a check for $100, but the bank returned the check marked NSF. The NSF fee is $30. What is Sandra's new balance?

3. Judy Rogers paid $45 on her balance of $191. What is her new balance?

4. Arnold Matthews had a previous balance of $465. He has paid $45 each week for 5 weeks. What is his current balance?

5. Ed Streep had a previous balance of $752. He has made nine payments of $25. After he makes six more payments of the same amount, what will his balance be?

6. Mr. Angle comes in for an office visit and is charged $120. He pays his co-pay of $15, and his insurance pays $89. How much does he owe?

7. Amy Moore pays $200 on her account, which had a previous balance of $652. What does she owe on the account?

8. Cassandra Lee has a previous balance of $86. She paid $5, and her insurance paid $71. What is her balance?

9. Ms. Jackson paid $25 on her account, which had a balance of $248; $66 is written off the account. What is the remaining balance?

10. Angela made a payment of $16 on her account. The next day an insurance check arrived for $88. Her previous balance was $92. What is her balance now?

11. Janeen has a previous balance of $157 for an office visit. She wants to pay her part of the bill, which is 20%. What should her insurance pay?

12. Joe Britton is a new patient, and his first office visit was $258. He paid his co-pay of $25, but his insurance denied the claim. What does he owe?

13. Ann Cuzack has a previous balance of $44, and today's office visit is $78. She pays her co-pay of $30. How much does she still owe?

14. Jonathan Sidwell paid $80 on his balance of $417. What is his new balance?

15. Tammy Watson had surgery 3 weeks ago, and her charge was $7,200, which covers the procedure and 6 weeks of follow-up. What will her charge be for her visit today if the normal limited office visit is $110? She is an established patient.

16. Thomas Mayhorn paid $60 on his son's account, which has a balance of $100. Thomas's ex-wife is to pay 40% of the son's medical bills. What does she owe on this account?

17. Alex Howe had a previous balance of $234. She paid $40, and her insurance paid $198. What does she owe?

18. Marcia Arden paid $50 on her previous balance of $294. What is her current balance?

19. John Esters agreed to pay his balance of $201 in three equal payments. What will his balance be after the first payment?

20. Annie Underwood paid $75 on her balance of $275, the amount left after insurance paid. What is her remaining balance?

Answer 1

The following are the final answers for your given questions.

1. $228
2. $359
3. $146
4. $240
5. $377
6. $16
7. $452
8. $10
9. $157
10. $4
11. $125.6
12. $233
13. $92
14. $337
15. $4890
16. $40
17. $4
18. $244
19. $134
20. $200