bad debt

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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 ?
All taxpayers, except for certain financial institutions, use the specific charge-off method to deduct business bad debts as they become partially or totally worthless.
NBE applies various techniques to reduce the bad debts portfolio including; debt rescheduling, increasing the bank's stake in defaulting companies' capital and floating defaulting clients," Abou El-Fotouh said.
The latest amount of bad debts, or loans that have remained unpaid for a prescribed period after maturity, was down nearly 7 percent from P74.
The bank took a pounds 696 m hit for bad debts at Barclaycard in the first-half of this year.
It comes a day after Lloyds TSB said the value of money set aside for their bad debts had risen by a fifth to pounds 800million.
Bad debt provision by Newcastle City Council includes pounds 5m for unpaid council tax bills and pounds 4m for council house rents.
Japan's economy has been ailing for more than a decade, and the conventional wisdom is that the world's second largest economy won't improve until Tokyo gives top priority to dealing with the mountains of bad debt held by Japanese banks.
The fourth work group examined the treatment of bad debts, rounding, and sourcing.
The Reserve Bank now says that banks with a "reasonable level" of bad debts would be allowed.
Either way (depending upon your specific credit policy and procedure) the next step would suggest that the account balance be written off to bad debts and life goes on.