Executive Revenue Solutions Medical Billing Blog

Health Insurance: Plan To Get The Right Plan

2012-03-31T08:29:00.001-07:00

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.

Welcome to our Redesigned Blog

2011-09-11T14:38:00.000-07:00

Welcome to the new Executive Revenue Solutions Blog. We hope you enjoy our new blog as well as our new website. For more information on our company and services, head on over to www.ExecutiveRevenueSolutions.com.

Keep watching our blog for updates on the Insurance Billing filed.

Medicare Billing for CPT Code 92015

2010-08-19T11:02:00.000-07:00

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

Why Are My Claims Being Rejected??

2010-01-19T08:11:00.000-08:00

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.

Why Should You Outsource?

2009-12-29T19:09:00.000-08:00

Benefits to Using a

Claims Processing Service

vs. Doing It Ourselves...

No more dealing with insurance company personnel or bureaucrats with Medicare and Medicaid. In many areas the average length of employment for the people who handle your claims is less than 6 months. This means that low-wage, untrained people are determining whether or not you get your money, and how soon you get it. With our service, all claims are handled electronically, by-passing the human “gate-keepers” and turning your claims around in 10 to 21 days rather than the national average of 270 days for Medicare/Medicaid and 58 days for commercial claims.
No more wasted time spent by the doctor in supervising the processing of claims. Many doctors spend as much as two hours per day working on insurance claims. The amount of money lost by not seeing patients during this time can be far, far greater than the entire cost of an outside service.
No more problems with office software and hardware support and service. Many doctors that have purchased internal software systems (whether cheap or expensive) have difficulty getting good service, support, software updates, consulting, etc. from their software distributor or vendor. Every bad experience your office has with software and hardware dealers adds another reason for you to try our service!
Greater income from increased efficiency of claims collections. Many doctors will experience an increase in collections of twenty to thirty percent, or more, within a short period of time after starting to use an outside service such as ours.
Cost savings. A great many internal billing operations, like most bureaucracies, can be found to be very inefficient and actually more expensive than an outside service would be to perform the same functions (and get them done better and faster). A recent survey performed on practices all over the country that was published in Medical Group Management Journal showed that the average cost of internal billing departments was 11% of the practice’s income. Billing centers typically charge only 5 to 9% to perform the same functions. Further, the same study showed that the collection rate of these internal operations was a dismal 55% and that it took an average of 93 days to collect insurance claims. Many times, a professional can actually do the job less expensively than the current staff.
Increased office space. It is not uncommon to find doctors that, even though their practices may have outgrown their available facilities, are “locked in” on long-term leases of five to seven years. Utilizing a billing center can sometimes free up one or more rooms that can then become remodeled into new income-producing examining or testing areas.
A professional who can help the doctor stay up with the latest changes in regulations, technology, etc. With all the political focus on Healthcare, and the talk of changes in various government and insurance systems, many doctors are beginning to find billing centers a welcome solution that allows them to “wash their hands” of all the administrative details involved in handling relations with insurance companies and government agencies. Thus, doctors find they can concentrate more fully on what really makes them money: treating patients and practicing medicine.

Why should Doctors outsource their billing?

2009-04-22T06:04:00.000-07:00

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.

http://bit.ly/pLmUd7

Welcome

2009-04-20T19:05:00.000-07:00

Welcome to Executive Revenue Solutions blog site. We hope this site provides you with valuable information to help your business/practice grow by increasing revenue and decreasing aging accounts receivable. Please check back daily for updates!

Thank you!

Executive Revenue Solutions