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|Posted on 15 July, 2012 at 18:22||comments (94)|
As a practicing physician, your workload is already substantial. Add to that, the responsibility of billing for your services which may also require your constant attention to instituting, upgrading, and perfecting the billing process. Not to mention keeping up eith current and new medical coding requirements and finding ways to stay compliant with the HIPAA privacy and security standards. Trying to accomplish all of this without completely disrupting your office or having to recreate most of your processes can be a daunting task.
Statistically, 30% of all medical practices' income is lost due to improper coding, under-pricing, missed charges, or denied claim. That's right, you could be losing our on 25% or higher of billable dollars annually, due to simple medical billing errors.
IS YOUR PRACTICE AMONG THOSE OFFICES RECEIVING 70% OR LESS OF THE AVAILABLE MEDICAL BILLING REVENUE DUE TO THEM?
Our job, at Shore Physician Solutions, LLC, is to get you the highest reimbursement that you deserve. Accurate billing is extremely important to your success. Not only do we understand this, but we make it OUR BUSINESS to be successful in chieving these results for you.
Contact our office for more information on how our medical billing & practice management company can benefit your practice at (732) 678-5884 or [email protected].
|Posted on 28 June, 2012 at 6:51||comments (42)|
Doctors were told to contribute to the construction of a new wing at the hospital.
What did they do?
The allergists voted to scratch it.
The dermatologists preferred no rash moves.
The gastroenterologists had a gut feeling about it.
The neurologists thought the administration had a lot ofnerve.
The obstetricians stated they were laboring under amisconception.
The ophthalmologists considered the idea short‐sighted.
The orthopedists issued a joint resolution.
The pathologists yelled, “over my dead body!”
The pediatricians said, “grow up.”
The proctologists said, “we are in arrears.”
The psychiatrists thought it was madness.
The surgeons decided to wash their hands of the whole thing.
The radiologists could see right through it.
The internists thought it was a hard pill to swallow.
The plastic surgeons said, “this puts a whole new face on thematter.”
The podiatrists thought it was a big step forward.
The urologists felt the scheme wouldn’t hold water.
The cardiologists didn’t have the heart to say no.
|Posted on 19 June, 2012 at 8:52||comments (37)|
Doug was removing some engine valves from a car on the lift when he spotted the famous heart surgeon, Dr. John Lee, who was standing off to the side, waiting for the service manager.
Doug, who was somewehat of a loud mouth, shouted across the garage, "Hey Lee. Is dat you? Come over here a minute."
The famous surgeon, a bit surprised, walked over to where Doug was working on the car. Doug, in a loud voice that all could hear, said argumentatively, "So. Mr. Fancy Doctor, look at this work. I too, take valves out, grind 'em, put in new parts, and when I'm finished, this baby will purr like a kitten. So how come you get the big bucks, when you and me are basically doing the same work?"
Dr. Lee, very embarrassed, shook his head and replied in a soft voice, " Try doing your work with the engine running."
|Posted on 18 June, 2012 at 20:08||comments (32)|
Your medical practice cannot afford to allow patients to be billed for their copayments and deductibles.
Did you know it is illegal to routinely waive deductibles and copayment amounts? Most insurance carriers do not tolerate this practice because it is a breach of contract. They may view it as giving a patient a discount and making the insurance company pay 100% of the fee. If audited, the federal government can assess penalties for not colelcting deductible payments for patients see with Medicare benefits.
However, if deductible or copayments are waived for legitimate reasons on a case-by-case basis, and documentation stating the reason for the waiver appears in the patient's file, there should not be any problems. Deductibles and copayments should be collected at the time of service, and copayments should definitely be collected prior to being seen by the physician.
When making the appointment with the patient, it is essential to get the patient's health insurance information. At the time of scheduling, the scheduler should remind the patient that all copayments and deductibles are due at the time of service. Before the patient sees the physician, the front office should say "Mr. Smith, as you know your plan requires a copayment of $xx.xx or x%. How would you like to pay?"
One to two days prior to the patients' appointment, reminder calls should be made. The reminder should include: the date and time of the appointment, plus any copayment and/or deductibles due at the time of service. Most office visit copayments are too small to merit sending out statements. This is a very costly method of collection, especially if the patient refuse to respond or remit payment and numerous statements are sent. It is best to make every effort to collect copayments and deductibles at the time of service plus reserve sending follow-up statements (via mail) for any patient responsibility stated on the Explanation of Benefit (EOB).
If your practice is not already set-up, consider offering credit card payments to your patients (i.e., Visa, MasterCard, Amex, and Discover).