CarePoint Financial Services
A billing and collection service is available for medical practices. Located in Ogden, Utah, the service is staffed by experienced billing specialists who have specific accountability to increase collections.
Billing staff work to assure that billing benchmarks are attained. Examples of performance indicators include collections rates greater than 70% of charges, Accounts Receivable over 90 days to not exceed 18% of total Accounts Receivable, bad debt no more than 2% of charges, and Days in Accounts Receivable to not exceed 38 days. Weekly "huddles" are held with billing staff who have an opportunity to share with each other their successes and plans for improvement.
Workload assignments are made such that the same individual has responsibility for the full spectrum of activities ranging from charge entry through final collections, which assures that the collection process is coordinated through a single individual. Specific billing tasks include accurate entry of patient demographics, review of prior patient balances to increase point of service collections, capture of patient copays, validation of patient insurance, charge entry, correct code mapping, data scrubbing, claim submission, insurance followup, development of payment plans, pre-collect notifications, and collection agency referral and followup.
Consultation is available with Certified Professional Coders (CPC) to monitor the correct assignment of procedural and diagnostic coding. Periodic coding comparisons are made with other providers of the same speciality in the local, regional, and national marketplace.
Support in credentialing and contracting with insurance companies is provided for ongoing clients at no additional charge.
When referrral to an outside and independent collection agency is appropriate, channeling accounts to a small group of agencies provides a favorable fee structure and enhances communication.
Billing staff work to assure that billing benchmarks are attained. Examples of performance indicators include collections rates greater than 70% of charges, Accounts Receivable over 90 days to not exceed 18% of total Accounts Receivable, bad debt no more than 2% of charges, and Days in Accounts Receivable to not exceed 38 days. Weekly "huddles" are held with billing staff who have an opportunity to share with each other their successes and plans for improvement.
Workload assignments are made such that the same individual has responsibility for the full spectrum of activities ranging from charge entry through final collections, which assures that the collection process is coordinated through a single individual. Specific billing tasks include accurate entry of patient demographics, review of prior patient balances to increase point of service collections, capture of patient copays, validation of patient insurance, charge entry, correct code mapping, data scrubbing, claim submission, insurance followup, development of payment plans, pre-collect notifications, and collection agency referral and followup.
Consultation is available with Certified Professional Coders (CPC) to monitor the correct assignment of procedural and diagnostic coding. Periodic coding comparisons are made with other providers of the same speciality in the local, regional, and national marketplace.
Support in credentialing and contracting with insurance companies is provided for ongoing clients at no additional charge.
When referrral to an outside and independent collection agency is appropriate, channeling accounts to a small group of agencies provides a favorable fee structure and enhances communication.