bad debt


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Related to bad debt: Bad Debt Expense, Bad Debt Recovery

bad debt

Any bill submitted for payment by a third-party payer or patient which is not paid in full, and unlikely to be paid for various reasons

bad debt

Medical practice Any bill submitted for payment by a third-party payer or Pt, which is not paid in full

bad debt

(bad det)
Unrecoverable debt.

bad debt

a professional fee that is owed but is not recoverable by the normal procedure of submitting three accounts at one month intervals and rendered from the veterinarian's office. A bad debt must be written off as a loss or placed in the hands of a professional debt collector or a solicitor to collect. If bad debts exceed 2% of the gross income the management of the practice should be investigated.
References in periodicals archive ?
If so, the regulations state that the debt qualifies as a business bad debt (Regs.
It is, therefore, really encouraging to see that the take-up of bad debt protection has been much higher in the first two quarters of the year.
Understanding the bad debt resulting from the category 1 list--those who actually met the portfolio criteria approval standards is important for reviewing your resident screening process.
A council spokesman said: "The bad debt provision is the amount of money the council sets aside to cover potential bad debts.
A bad debt removes this opportunity from the mix and the void must be filled from among the existing accounts or a concerted prospecting effort must be undertaken to find a volume/margin replacement.
Actual bad debt as a percentage of net sales (which represents gross sales less rescissions) has steadily declined, from 5.
166(a) provides the general authority for a bad debt deduction, stating, "There shall be allowed as a deduction any debt which becomes worthless during the year.
NEW YORK -- Link to Fitch Ratings' Report: For-Profit Hospital Insights: Fitch's Annual Review of Bad Debt Accounting Policies and Practices
The Tax Court held that a taxpayer who made high-interest loans to friends and acquaintances was not entitled to any bad debt deduction in 2008 for a loan that arguably went belly up in 2008, because he did not prove that it was a business loan or that the loan was wholly worthless in that year.
Global Banking News-May 21, 2015--Vietnam central bank to bring down bad debt ratio
Currently, bad debt is written off on a monthly basis and sent to an outside agency for processing.