Bill Sample / December 10, 2018 / Odessa Barron
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.
You need an understanding with your providers as to when you are going to be paid for your services. Doctors are often not the best businessmen and are sometimes not very good about paying bills on time. Especially when you are first starting your business it is vital that your provider understands when you expect payment and that you have something well written to protect you if you end up with someone interpreting the language of your contract in court. Each year you are in business you find additional things that need to be added to your contract. New situations arise that you realize should be covered in your contract. So how do you cover everything that needs to be covered? You need a list - actually several lists. You need a list of what you feel the providers responsibilities are. You need a list of what you feel your responsibilities are.
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.