Education and flexible payment options are keys to success. By Robin Upton, CPC Patients who do not understand their health insurance or financial responsibility turn into unhappy customers when they receive an unexpected bill from your physician office. Educating patients up front regarding these matters and offering payment options helps to prevent unpleasant situations that ...
Tighten up the turnaround time for patient payment and see the financial benefits to your practice. By Teresa D. Skipper, CPC, CHCA The number of days that claims are in accounts receivable (A/R) is climbing. Is it any wonder? Patients no longer have $500 yearly deductibles with 80/20 policies and low copays. Deductibles have increased ...
Follow these tips to keep your healthcare organization afloat. There are many reasons why hospitals and providers are unable to collect payment from payers. To help you cut down on outstanding claims and increase provider reimbursement, it’s a good idea to understand how accounts receivable (A/R) affects your bottom line, and apply good practices to ...
If your organization treats Medicare patients, the Advance Beneficiary Notice of Non-coverage (ABN) is worth every penny it could save your physicians. The ABN safeguards your right to collect on non-covered services (other than statutorily excluded services) from patients. With all the money ABNs help practices to recoup, you’d be surprised at the number of ...
When claims are not getting paid in a timely manner, eliminate the holdup. Accounts receivable (A/R) is the bread and butter of an office. To support the livelihood of your practice, ask your employees to think about uncollected balances from a personal point of view. For instance, would they wait 120 days to receive reimbursement ...