Aging

Question 1

What measures an organization’s financial health?

Answer 1

AR aging

Aug. 2021, 8.3

Question 2

What does it mean if age is low?

Answer 2

That payments are being received and applied quickly.

Aug. 2021, 8.3

Question 3

True or False:

Tracking age provides an indicator of how well organizations are collecting money.

Answer 3

True

Aug. 2021, 8.3

Question 4

The length of time a balance has been outstanding is known as what?

Answer 4

Age

Aug. 2021, 8.3

Question 5

How is age calculated?

Answer 5

The difference between two dates

1. Start date
2. Aging date

(Aug. 2021, 8.3)

Question 6

Define aging date.

Answer 6

The date you wish to know the age of something.

Aug. 2021, 8.3

Question 7

What are Chronicles aging reports know as?

Answer 7

Dynamic or operational aging.

Aug. 2021, 8.4

Question 8

Do operation aging reports account for changes in aging dates as a transaction moves through the revenue cycle?

Answer 8

Yes

Aug. 2021, 8.4

Question 9

What does Professional Billing aging use as start dates?

Answer 9

1. Service date
2. Post date
3. First statement date

(Aug. 2021, 8.4)

Question 10

What does Hospital Billing aging use as start dates?

Answer 10

1. Date of discharge
2. The first claim or statement date
3. From the end of an interim period

(Aug. 2021, 8.4)

Question 11

True or False:

Age in Clarity must be calculated.

Answer 11

True.

Either by report formulas or in views.

(Aug. 2021, 8.5)