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Casual Articles - Underpayment Risk Management for Outsourced Electronic Medical Billing Service
Some planned changes in life turn out to be less promising than expected. What should you do in such a case?This “concept” of taking your loss is used in the investment area. The principle is simple. You have built up an investment portfolio with different investment instruments. Each individual instrument (a stock, option, future, bond, mutual fund, etc) is priced as an outcome of a market process. And the value of the portfolio changes in a moderate way; some titles increase in value other decline during a trading day. In the end the value of your portfolio is more or less in
As more and more home pressure washers are sold at leading retailers such as Wal-Mart, Sears, Home Depot, Cosco, etc. We are seeing companies offer products in brand line extension to service this niche. Armor All is the newest company to offer it's brand name customer loyalty to sell these products. They of course have been heavy into the Car Wash Industry with National Networks of Distributors in Canada and The US and Europe for tire cleaners and protectants, now they are offering a concrete cleaner for home pressure washer do-it-yourselfers.http://armorallhomecare.com/pro
Partial Underpayment
A procedure is partially underpaid if it is paid below its contractually allowed or "reasonable and customary" amount. Zero payment is a limiting case of partial underpayment. Some billing service providers estimate partial underpayments to make up 7% of claim volume [Delinsky, 2006].
Zero Payment
In a claim with multiple procedures, one or more procedures may be paid at zero (zero payment) if the payer pays at least one of the multiple procedures and bundles unpaid procedures with paid procedures. Zero payments add yet another degree of complexity to underpayment identification and recovery. Some billing
When you work for a small IT company, you will have each tech invoice at the client's site when the job is completed. This may not have worked very well for you. Often jobs span many visits, the tech needs to run out for an emergency, etc., etc. As you may guess, you often run behind in invoicing. I personally believe that we should invoice on-site for small jobs (like one time clients), but invoice on a monthly basis for those clients that do not have a monthly service plan with you, but still require steady IT service throughout the year. Is this how most small IT companies do it, o
Partial Underpayment
A procedure is partially underpaid if it is paid below its contractually allowed or "reasonable and customary" amount. Zero payment is a limiting case of partial underpayment. Some billing service providers estimate partial underpayments to make up 7% of claim volume [Delinsky, 2006].
Zero Payment
In a claim with multiple procedures, one or more procedures may be paid at zero (zero payment) if the payer pays at least one of the multiple procedures and bundles unpaid procedures with paid procedures. Zero payments add yet another degree of complexity to underpayment identification and recovery. Some billin
One of the themes for my New Year's resolutions from last year was to become more generous. I was motivated by wanting to break a general feeling of entrepreneurial financial anxiety, as well as to begin fulfilling a childhood dream of becoming "a philanthropist." (Big word for a little kid, but I was precocious.) Well, after reviewing my year, I can say that I really did make big progress. Sometimes it was challenging, especially spending money more freely than I have in the past. But you know what? I don't feel that "tightness" that I used to experience, worrying about the sm
Partial Underpayment
A procedure is partially underpaid if it is paid below its contractually allowed or "reasonable and customary" amount. Zero payment is a limiting case of partial underpayment. Some billing service providers estimate partial underpayments to make up 7% of claim volume [Delinsky, 2006].
Zero Payment
In a claim with multiple procedures, one or more procedures may be paid at zero (zero payment) if the payer pays at least one of the multiple procedures and bundles unpaid procedures with paid procedures. Zero payments add yet another degree of complexity to underpayment identification and recovery. Some billin
Expensive? No, it only sounds expensive. Actually executive office space or executive suites are nothing more than generic terms for a type of office space that doesn't require a long-term lease. But it is something you should know about. It can give your new company a successful established image from your first day.Consider this: You will have an office address in a classy building.Your executive office space will be right in the center of a city where the action is.You won't have to buy a single piece of furniture. Executive sui
Zero Payment
In a claim with multiple procedures, one or more procedures may be paid at zero (zero payment) if the payer pays at least one of the multiple procedures and bundles unpaid procedures with paid procedures. Zero payments add yet another degree of complexity to underpayment identification and recovery. Some billin
In a previous article, Top Secrets to Great Teaming, I wrote about the importance of having all the essential documents you need for an RFP proposal, and how to make sure they reach the right people. In this, 5 Top Secrets to Winning the Bid, I’ll share some secrets to winning that bid.Tip # 1. Make sure you use all the real estate given to you. Use the cover to promote your firm and leave the name of your firm front and foremost in their minds. Use an outstanding color to make a strong visual impression and have the name of your firm large enough to be seen as it sits on the t
Underpayment Recovery Potential
A claim runs a risk of underpayment in five typical situations, such as undercharging (charging below allowed amount or omitting a CPT code), charging for multiple procedures on the same claim, using modifiers to differentiate between services, providing service during the deductible period, and in cases of more complex contracts. An overlap of several such conditions exacerbates the risk of underpayment.
A disciplined billing office manages underpayment risk in three ways, namely, avoids underpayment prior to claim submission, identifies underpayment upon review of explanation of benefits (EOB), and appeals underpayments. As a rule, every partially underpaid claim and majority of zero payments must be appealed. Some billing service providers report 75% rate of zero payment appeals, or 3% of monthly charges. Therefore the total volume of appeals makes up 10% of monthly claims volume (7% for partial underp
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