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Adding Insurance to Your Practice
We are excited to announce the launch of "Adding Insurance to Your Practice" by Joseph Sanok, Alison Pidgeon, Jeremy Zug, and Kathryn Zug! It was a collaborative work that helps you add insurance to your practice. As part of the Practice Essentials Webinar Series hosted by Joe Sanok, from Practice of the Practice, Adding Insurance To Your Practice explores the ins and outs of insurance and billing within private practice. Alison Pidgeon (Move Forward Counseling) and Kathryn a
5 Things You Need When Separating From Your Biller
Changing your billing service from one company to another is a daunting task, and one that we have undertaken many times. Each time a customer changes billers there are specific steps and pieces of information that are invaluable to have to make the process much easier. If you follow these 5 things when separating from your billing service, it will make the transition better for you and your new billing service. 1. Make a Plan The first thing you can do that will make the tra
3 Ways to Collect Money Past 120 Days
One issue that providers have once they revise their collections strategies is trying to get that money that has aged past 120 days. This money is old and the patients that are responsible for this money, most likely, have terminated treatment and moved forward. This makes collecting this outstanding amount very difficult. The grim reality of the situation is, is that most of this money will most likely be written off. However, there are strategies that you can employ that wi
3 Reasons Why You NEED to Know Your Contracted Rates
Mental health billing requires a great degree of accuracy and precision. And most billers love being accurate and precise, especially when it comes to finances and coding. However, their job is greatly hindered if they don't have the contracted rates for services. What do we mean by "contracted rates"? And why would your biller need to know these rates in order to do the billing correctly? Contracted Rates: The amount that an insurance company will pay for a given service cod
3 Most Common Billing Errors
It is one of the most frustrating things to get news of a denied or rejected claim. Most of the time these claim errors are simple and easily remedied. The top three most common billing errors may surprise you, and fixing them will be the simplest thing you do today. Here are the 3 most common billing errors and how to fix them: 1. Entering incorrect information for the provider (name, address, contact information, etc.) The provider information goes at the bottom on the clai
3 Reasons Why You Need to Track Insurance and Patient Aging
An important aspect of owning a business and a practice is knowing what performance indicators are necessary to track in order to make informed decisions about the business. For practices, tracking the aging reports for patients and insurance can be vital when making decisions. Here are 3 reasons why you should be tracking the patient and insurance aging: 1. Tracking your aging gives you an idea about cash flow The critical factor to keeping a business afloat is cash flow. Wi
3 Ways to Know If Insurance Reimbursement is Worth Your Time
One question we are asked is if insurance reimbursement is worth going through the hassle of credentialing, contract negotiations, and then subsequent billing. The answer to this question can be complicated, but hopefully it doesn't have to be. Here are 3 ways to know if insurance reimbursement is worth your time. 1. Your Margins Are Safe Many of our clients look at the reimbursement rates only. They think, "Insurance X pays $60.00 an hour, that's great!". But when it comes t
