What is the term for outstanding amounts owed to a healthcare provider by patients and insurers?

The term for outstanding amounts owed to a healthcare provider by patients and insurers is "Accounts Receivable." This term specifically refers to the money that is owed to a business for services or goods that have been delivered but not yet paid for. In a healthcare context, this includes amounts that patients need to pay out of pocket as well as amounts that insurance companies are expected to reimburse the provider.

Understanding accounts receivable is essential for practices to manage their cash flow effectively. It indicates how much revenue is expected to be received in the future and is critical for financial planning and assessing the financial health of a healthcare organization.

In contrast, accounts payable refers to what the organization owes to suppliers and vendors, the revenue cycle encompasses the full process of managing patient revenue from the initial appointment to payment collection, and operating income refers to the earnings generated from the primary business operations. These concepts, while related to financial management, do not directly address the amounts owed to a healthcare provider, which is specifically captured by accounts receivable.