Bill Sample / December 9, 2018 / Dionne Boone
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.
Days in Accounts Receivable (DAR) A growing number of days in accounts receivable are symptomatic of a faulty billing process. One way to determine DAR is to count days from the date of service to the date of payment for every claim and then average across all claims. A simpler way to compute average number of days in accounts receivable by taking a ratio of accounts receivable to average daily charges or Number of days in accounts receivable = (Accounts Receivable / Average Charge) x 365 This metric too depends on medical specialty patient demographics payer mix and CPT sample. Another downside is that this metric is sensitive to provider as it counts the lag time of unsubmitted claims for services already delivered.
But we basically searched until we found a sample very simple contract and modified it for our use. For several years we told ourselves that it was fine and if it wasnt working out for the provider then it wasnt working for us either and we should move on and find new clients. It took us a long time to realize that in several situations our simple contract was actually the reason things were not working out. When you first start your medical billing business you have no idea of the things that can go wrong in a relationship with your clients so you do not know what needs to be included in a contract. Our first contract did not even specify the responsibilities of either the provider or ourselves. It is amazing we were able to find providers willing to sign our contract.