Bill Sample / December 9, 2018 / Karin Higgins
Net collection rate is defined as a ratio of Total Collections and Total Charges less Adjustments. Gross collection rate is defined as a ratio of Total Collections to Total Charges only.) According to Medical Group Management Association (MGMA) 1998 Cost Survey adjusted fee-for-service collections (net collections) for family practices in 1997 averaged 98.65 percent. A declining net collection ratio may be symptomatic of increased contractual write-offs or insufficient number of denial appeals. This metric is especially useful in the absence of modern computer technology when comparison of every payment to allowed amount is impossible or when appeal process of denials is too expensive. Otherwise the use of charges in defining gross and net collection metrics precludes them from productive discovery of process improvement opportunities.
If you are like most people then you may have been considering ways to help cut back on the amount that you pay. Have you considered getting a free food sample of some of your favorite grocery items? We are not talking about the food samples that they give out in the store for you to taste right there. However we are talking about the countless food samples that you can order online and receive them directly in the mail. These samples can really help you to get the products that you are already using for free. You might even be surprised at the sizes that you would receive. In some cases you could actually get the same size of the item that you would have bought in the store. Once you receive the item you can scratch it off of your shopping list that week.
When the doctor has signed a contract that says that he will designate a person responsible for that purpose you can nicely inform the person responsible for getting you the eobs that this is such an important issue to you that it is written into the contract that the doctor signed that you are to be provided with the eobs. You can also include a provision in the contract to specify what you can do if the provider is not providing you with the eobs. Another important example is an issue you will undoubtedly run into - your payment. Many people who start this business are used to receiving a regular paycheck. When you make the move to being an entrepreneur and owning your own business you can only write yourself a paycheck if your providers pay you.