October 1, 2015, did it come too soon? A deadline dictated by unwise policymakers? Our opinions differ. But, agree or not, the time has come.
Medical practices have struggled with the decision to outsource self-pay receivables for decades. A recent HFMA study discussed a myriad of choices available and each choice presented a compromise of one trade off or another.
The past couple of months have been prime territory for bashing ICD 10 and having some fun with the craziness we don’t understand.
A new national survey administered by Emerald A/R Systems www.emeraldar.com shows that the majority (77.3%) of radiology practices are receiving only a 12% rate of recovery from collection agencies working on their behalf. The remainder of the practices are
Cancer is ugly. The effort to get paid doesn’t have to be. We believe that billing and collections for cancer patients has to be compassionate to be successful. There is no other way. We all know we need to get paid for our services. If there is ever a time in life when those financial transactions need to be handled with great care and careful consideration it is when cancer shares the picture.
In May of 2009, Consumer Reports conducted an investigation into health insurance coverage gaps. They discovered a problem of such enormous proportions that they called it “hazardous” in an article entitled
“This is the song that never ends.
Your collectables are rising, insurer reimbursements are on the chopping block and ICD-10 is like a tsunami of revenue uncertainty. The last thing you can afford is languishing patient collectibles. So you launch your own collections calls or you hire a collection agency to collect the outstanding debt. STOP right there. Do you know the law regarding outgoing patient calls? Do you know exactly what methods your collection agency is going to employ on your behalf? If not, it could cost you thousands of dollars in fines.
You have done everything in your power to reduce expenses and increase revenue for your practice. You have sharpened your handling of claims; now you file every day and regularly appeal underpaid and rejected claims. Your staff has been