An explanation of benefits (EOB) describes how you got paid. Almost all physicians in training and many physicians in practice do not understand, or ever review, their EOBs. In private practice, that is a mistake. When you have someone else, such as your billing person, reviewing the E...
How to protect yourself from medical identity theft: Safeguard your Medicare number and health insurance documents the same way you would your SSN. Review your medical bills and Explanation of Benefits (EOB) regularly for false claims or errors. Verify that you are enrolled in the right Medica...
Phantom billinginvolves submitting bills for payment of procedures, services, equipment, or prescription drugs that patients never received. Healthcare providers caught in the act are liable to be prosecuted under the False Claims Act (FCA) [*]. Double billingis when medical providers submit multiple...
Your PT office will work with you to provide the best care at the lowest cost. For example, they may offer a sliding scale payment plan where you pay a set amount based on your income or set up an interest-free payment plan that allows you to pay off the cost of your sessions over ...
What you can do:Check those “This Is Not a Bill” statements that you get in the mail. Hospitals often make billing mistakes, so it’s important for new parents to double-check everything before making a payment, says Caitlin Donovan, senior director at the Patient Advocate Foundation. ...
The premium is the amount an individual pays to the insurance company on a regular basis, usually monthly or annually, to maintain their coverage. Additionally, individuals may also be responsible for other costs, such as deductibles, co-payments, and coinsurance. A deductible is the amount an ...
Monitor your credit card and bank statements regularly to avoid this type of theft. For additional safety, you can hire an identity theft protection service.3. Driver’s License Identity TheftThe purpose of this identity theft is to get away with crimes such as illegal parking, DUI or ...
Now over coming this nightmare for any medical billing company can be an uphill task but with a systemized medical billing and coding company you can save up on reimbursement of physicians and have satisfied client base. One of the major challenges for the Billing Company is to provide end-to...
Finally knowing the above principle, you should set fee schedule consistently high so that you can collect legitimate money and reduce the risk of alienating patients when they receive an EOB or are told the charges for the day. You can easily achieve this balance by setting up the fees at...
The medical billing software on your desktop creates an electronic file (the claim) also known as the ANSI-X12 837 file, which is then uploaded (sent) securely to your clearinghouse account. The clearinghouse then scrubs the claim checking it for errors (arguably the most important thing a ...