Prevent Revenue Leaks by Managing Write-offs

Necessary or Approved Write-offs These are write-offs that you have agreed to, either in the context of a contract, or in terms of your practice philosophy. The last thing practices want to do is adjust off a claims that has the potential of payment. New technology has automated the appeal process making less laborious say … Continue reading “Prevent Revenue Leaks by Managing Write-offs”

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New Medicare Card Link

http://www.medbizpartners.com/medicare-card-hand-out06112018173304/

Registration Audits Prevent Revenue Leaks

MedBiz Front office Audit Form is a valuable tool to guard against revenue losses and unnecessary insurance claim delays.

Richard Maynard, owner of MedBiz Partners Inc. in Palm Harbor, Fl, recommends a periodic audit of 10-15 records for each of the registration staff.

• The following are key measurements including on the form.
  • Copays and Self pay collections
  • Insurance eligibility
  • Policy Name , group, and policy number
  • Medicare’s new number
  • Patient Demographics
  • Mobile phone for ECW messaging features
• Verify the ECW check box Do not send statements is not being abused with family or friends. Maynard, who is also an eClinicalWorks® PM trainer, recommends updating the new user security setting to prevent this occurring.
• Verify insurance cards being scan.
• Follow up on audit results and schedule the necessary training.
• Offer team bonuses for successful audits: Gas cards, retail gift cards.

Case Study: How Premier OBGYN Increased Profits for Medical Practice

Background: Premier OBGYN has been operating for over 10 years. Six years ago, they made the switch to eClinicalWorks®, one of the top EHR/PM systems.

The Challenge: During their growth as a Medical Practice, overseeing the billing department plus other areas pertaining to the business of medicine became overwhelming. Premier required a solution that would allow them to focus their talents and strengths on the patient’s experience and care and still increase profits for the medical practice.

Medicare Penalties EOB