Executive Revenue Solutions Medical Billing Blog

Why would you take a risk with you own life? If you have a serious medical problem, or perhaps even a minor procedure, the prices for health care will be very steep. This is why health insurance is such a necessary investment. Perhaps you will never need it, but if you do and don't have it, you will be in a very difficult situation. The tips in this article will give you the information you need to purchase health insurance.

Make sure you know what kind of inpatient treatment your health insurance covers before you end up in the hospital. If your insurance doesn't cover a private room, then you should be prepared to either share or pay for the room yourself. They also may not cover other aspects of your care, such as an ICU room, so know before you go.

If you are a student and are generally healthy, pick an inexpensive plan with a high deductible amount. Chances are with your risk levels, you won't be needing to visit the doctor very often. The main reason for you to have insurance is to protect you in case of major illness or accidents that require hospitalization.

If you are employed at any job in the country, take full advantage of your employer's insurance policy. Because of the recently passed healthcare legislation, every employer now has to offer insurance to employees. It might be a bit costly, but it's far more affordable to go through your employer for coverage.

The tips that you read in this article will help to prepare you with health insurance. It is not a topic that can be avoided and the longer you wait the more potential problems you could have. That is why this information will be crucial for your benefit in the future.

Hello! I came across this article regarding billing for the refraction during an office visit. As you know Medicare does not cover these services, but you might not have known that you must bill your patient, at least once, for this service or be fined, if you are audited. For more information check out this link

goo.gl/nlZ4e

Everyone hates to log on their billing system and see rejected claims, or worse yet when they come in the mail. How do you prevent this?
Here are some of the most common mistakes we have come across:

1. Patient's insurance has lapsed or has been terminated. Being the first of the year it is very important to verify patient eligibility(before services are rendered)! This will save your practice a lot of time and money by making sure your patient has coverage, as well as, checking to see if the patient has a deductible, and if they have met it or not.

2. Patient's information is incorrect. Patient information should be updated at least once a year. If the information on the claim is incorrect they will reject it. It will save your practice time and money by not having to call the patient to get updated information (that is if you have the correct phone number).

3. No precertification or lapse in Authorization. Some claims will require this, and making sure that the information you have on file is current, is imperative. Insurance companies 99.9% of the time will not pay for claims that have a lapsed Auth number or were not precertified. This means your office will not get paid, from the insurance company, for services rendered.

4. No Referring Provider Listed. Make sure your patients have filled out this section of your patient information form. Most insurance companies require this information. Again, this will save your office time and money by not having to track it down later.

These are just a few of the common mistakes we come across. I hope this answers some questions you may have, as to why you are getting those pesky rejections. For more information on how to never deal with rejected claims again, give us a call at 800-556-7038.

The costs of running a medical practice (i.e. malpractice insurance, billing, government regulations, increasing aging accounts receivable) are increasing at an alarming rate. Executive Revenue Solutions provides many cost saving:

• We make sure insurance claims are being filed correctly and quickly. We pride ourselves on reducing claims rejection rate from an average 30% to less than 2%. Claims are paid within 7-14 days on average, with most being paid 2 days after being submitted.
• Decrease aging accounts receivable. Our Patient Payment Plan provides another solution for your patients to pay off extended accounts. By drafting your patients checking accounts monthly for a predetermined amount, using our proprietary software, checks will be delivered to your office ready for deposit. No monthly billing and waiting for the checks to arrive.

Here is an article that lists the benefits of outsourcing. To see how we can help your practice increase profits visit our website www.ExecutiveRevenueSolutions.com or call 800.556.7038.

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