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Most common questions regarding Medical Lien Funding process, Servicing Medical Receivables, Medical Billing and more in the personal injury, MVC (Motor Vehicle Collision) or auto accident space

  • How long after an accident can you make a claim?
    The timeline for filing a claim can vary by jurisdiction and the type of claim (e.g., personal injury, property damage). Typically, personal injury claims have a statute of limitations ranging from one to three years after the accident.
  • What is AR management in medical billing?
    Accounts Receivable (AR) management in medical billing involves managing the amounts owed to a healthcare facility by patients and insurance companies, ensuring timely billing and collection of payments for services rendered.
  • How much do you get paid in accounts receivable?
    Salaries for accounts receivable positions vary based on location, experience, and the size of the company. Typically, the range can be from $30,000 to $55,000 annually for clerical to mid-level positions.
  • What is the highest salary for accounts receivable?
    For senior or managerial roles in accounts receivable, salaries can range from $50,000 to over $70,000 annually, depending on factors like industry, location, and company size.
  • Is Account Receivable a hard job?
    Accounts receivable can be challenging due to the need for attention to detail, proficiency with numbers, and sometimes dealing with late payments or discrepancies in accounts. However, it can be a rewarding finance career with opportunities for advancement.
  • Who pays accounts receivable?
    Accounts receivable are typically paid by customers or clients of a business who have purchased goods or services on credit.
  • Which is more difficult, AR or AP?
    The difficulty can depend on the specific challenges and the individual's aptitude. Accounts Payable (AP) involves paying out money and managing outgoing expenses, while Accounts Receivable (AR) involves receiving payments. Both require attention to detail and financial accuracy.
  • What is the difference between AP and AR?
    Accounts Payable (AP) refers to the money a company owes its suppliers and creditors, while Accounts Receivable (AR) refers to the money owed to the company by its customers.
  • What is the GAAP for accounts receivable?
    Generally Accepted Accounting Principles (GAAP) for accounts receivable involve recognizing receivables on the balance sheet at net realizable value, assessing them for impairment, and accounting for them on an accrual basis.
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