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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 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 Collections Strategies That Help You Get Paid
One issue that has surfaced recently is how providers are supposed to collect from patients and minimize the amount that is written-off every year. We recognize that this can be an uncomfortable conversation with patients, but ultimately it is crucial to the survival of the practice. Here are our 3 best strategies for collecting from patients and minimizing your write-offs at the end of the year. 1. Create Documented Procedures for Collections In our experience, when there is
