Bill Sample / December 8, 2018 / Daphne Pope
It is a good idea to try to think of everything that can go wrong in the relationship and write down your feelings about how those situations should be handled. You should be able to come up with a long list. In the circumstances of a new biller it can be difficult to know what can go wrong. It has been sixteen years since we started our medical billing business and we are still learning about new things that can go wrong. Most providers expect to sign some form of contract when using a third party service and generally expect the billing service to produce it. They want to make sure they are covered as well as the medical billing service. Going over the contract with a provider starting out with you can set the stage for a successful relationship. You can go over the terms carefully making sure the provider understands what you need to make it a beneficial partnership. Most of us when we are starting our businesses do not realize how much a good contract can affect their business.
Make sure you take the time and experience of others to get everything you need covered in your contract. Are you feeling the crunch of a tight economy? Are you looking for fun and easy ways to save money? Well you are in luck because there are so many free product samples today that allow you to save money each week. Companies are using free samples as direct advertising tools. They want you to try their products for free hoping that you will purchase the next one. It is a marketing strategy that worked for many companies. This is the reason why free samples by mail programs have persisted over the years. For your part getting free items is a fun and convenient way of saving a few dollars each week. The range of free products available for you is amazing.
Useful metrics must be comprehensive and simple. They must combine both complete end-to-end processes and their individual components. Metrics must be used consistently over time and compared to standards. Obviously different standards apply to different medical specialties patient demographics payers and samples of CPT codes. Medical billing metrics typically include compliance cash balances charges accounts receivable and collection ratios to help monitor cash flow. This article focuses on performance metrics. For discussion of compliance program see companion article on Medical Billing Compliance. Collection Ratios Traditional metrics include gross and net collection ratios. Both metrics are subjective to individual practice because they compare (often arbitrary) charges to (allowed) payments.