Patient due amounts (copays and coinsurance) can make up roughly a third (or more) of your practice A/R, but on average only one-third of patient dollars are properly collected up front. If you see a patient in your practice and they leave without resolving their patient due amount, […]
When posting payments in a practice management system the need for accuracy is essential. Inaccurate postings can result in serious downstream financial affects for your practice. Though the importance and possible negative ramifications of posting payments inaccurately are seemingly obvious, mistakes can easily occur with a simple typo. […]
All providers who enter the medical field generally do so to meet a common goal, providing good care to their patients. With this goal in mind it is often conflicting to set a price to the care provided. It is even more challenging to make financial decisions that […]
We’ve all seen it. The patient comes to the check-in window, and you ask “Name… date of birth… have there been any changes in your address or insurance?” The patient quickly replies, “Nope”, and takes a seat in the waiting room. The charge is entered and billed to […]
High deductible health plans and higher copays have driven practices to focus more attention on collecting large outstanding patient balances. For many practices, patient collections accounts for 20-30% of their overall revenue, so it’s more important than ever that the practice staff be comfortable with and trained on […]
As we all are aware, the Centers for Medicare and Medicaid Services (CMS) has continued to release telehealth coding and telehealth billing changes that impact billing in response to care providers’ concerns amidst the novel coronavirus pandemic. Here are the most recent changes that impact medical billing, which […]