Name and briefly explain three types of bankruptcy
What will be an ideal response?
Any three of the following:
• Chapter 7—All nonexempt patient assets are sold and the proceeds distributed to creditors. Secured creditors, like mortgage or car loans, are paid first; unsecured creditors, like medical providers, are paid last. This type of bankruptcy is considered complete in that most or all patient debt dissolves. If the patient's assets are less than their debts, the medical office may not receive any of the amount outstanding and may have to write off the patient's balance.
• Chapter 9—Used for town reorganizations. This does not apply to medical bills.
• Chapter 11—Used for business reorganizations. This does not apply to medical bills.
• Chapter 12—Used by farmers who cannot meet their financial obligations. This does not apply to medical bills.
• Chapter 13—Protects debtors from creditors while the debtors arrange to repay all or some of their debts over 3- to 5-year periods. When those periods end, the balances on most debts dissolve. With this type of bankruptcy, the medical office may receive a portion of the amount outstanding on the patient account over the 3- to 5-year period.
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If a patient is cyanotic or mottled and has no respiratory effort, he is said to be in:
A) respiratory arrest. B) respiratory distress. C) respiratory failure. D) dyspnea.
Office note: "This 3-year-old was brought to the office by his mother, who reports that the child has been pulling on his right ear and saying ‘It hurts.' Examination of the ears shows that there are no findings in the left ear; however, there is a foreign object in the right ear.". This encounter would be reported with code(s) ____________________
Fill in the blank(s) with correct word