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.
Have you taken your pet to the vet recently? Chances are if you did you spent a lot of money! Quality pet care isnt cheap--but we all know how important it is for the health of our four-legged family members. Today were blessed with many diagnostic tools and procedures that werent available years ago. Problem is all these advancements come with a large price tag. And pet owners are often caught in the middle. They love their pets like family members but sometimes cant afford to take them to the doctor or pay for life-saving procedures. As a veterinary technician its one of the hardest things I have to deal with on a daily basis. Here we are with all the tools and skills available to help a pet but the owner simply doesnt have the funds to pay.
This number has improved down to 17.7% in 2004. In summary comprehensive and charge-invariant metrics such as PARBX are more informative and objective than collection ratios. However these metrics alone fall short from identifying specific areas for billing process improvement. Modern technology helps identifying billing bottlenecks as it allows interactive review of multiple metrics along different aggregation dimensions. For instance PARBX metric is especially helpful to identify patterns of problem claims containing specific payer or CPT code. Further modern Vericle-like technologies enable comparison of every payment to allowed amount and subsequent appeal on every denial effectively reducing the average percent of accounts receivable to low single digits.