bad debt

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Related to uncollectible: uncollectible debt

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 ?
6343(e) requires the release, as soon as practicable, of a levy on wages when an account is placed in uncollectible status.
Cashiers cannot be held accountable for bad checks accepted in compliance with established check acceptance policies, but when the same cashiers keep accepting most of the firm's uncollectible checks week after week, prompt, ongoing feedback usually corrects the problem.
Under the second method, which is a variation of the Black Motor formula, a taxpayer can determine uncollectible NAE amounts by multiplying its year-end accounts receivable balance by a three-year moving-average percentage, reflecting its actual NAE as to its accounts receivable balance at the beginning of the current tax year and the two immediately preceding tax years.
5 million additional provision for estimated uncollectible revenue in 2009, net income and diluted earnings per share for the nine months ended September 30, 2009 would have been $14.
Thirty companies participated in the research that examined how companies are balancing the cost of collection to reduce uncollectible debt and improve the bottom line.
Currently, there is no way for the city to tap the millions of dollars in uncollectible delinquent property tax payments, and it often becomes the owner of buildings in disrepair.
In 1989, over 175 million tax returns were filed and the IRS carried $66 billion in accounts receivable, $8 billion of which was rendered uncollectible.
By selling to non-creditworthy customers, the Company effectively reported tens of millions of dollars of sales that it otherwise would not have reported, while accumulating tens of millions of dollars of uncollectible receivables.
A fixed right to a determinable amount, however, does not require accrual if the income is uncollectible when the right to receive the income item arises.
The uncollectible accounts expense for DTE's utilities increased to $213 million in 2008 from $135 million in 2007 and $123 million in 2006.
Worthlessness is evidenced by the fact that legal action to enforce payment would result in an uncollectible judgment or by a settlement in bankruptcy.