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Health Insurance Today A Practical Approach 5th edition
Before completing this assignment, you can watch a you tube video about percentages. Follow the link below to watch the video.
One of the standard reports generated by most patient accounting software programs is the accounts receivable aging report. An aging report shows how long patient accounts have been outstanding or unpaid. The aging report is broken down into categories by length of time outstanding.
When analyzing a patient accounts receivable aging report, the total money owed that is 120 day or older should be small compared with the total accounts receivable. According to the text, if 20% of the practice’s unpaid revenues are 120 days or older, steps should be taken to improve collections.
Study the example below and answer the following questions.
- What percent of the total dollar amounts on this page are current?
- What percent of the total dollar amounts on this page are more than 30 days old?
- What percent of the total dollar amounts on this page are more than 60 days old?
- What percent of the total dollar amounts on this page are more than 90 days old?
- What percent of the total dollar amounts on this page are more than 120 days old?
(Hint: add the totals for each of the columns together to get the total dollar amount)
Note round up to the nearest whole percentage.
- According to the report, does the practice have more than 20% of unpaid revenue older than 120 days? If yes, what should be done about this problem
|Broadmoor Medical Clinic accounts Receivable Aging Report|
|Name||Current||> 30 days||> 60 days||> 90 days||> 120 days|