Did you know You must report changes of your medical practice to your contracted medical insurance companies?
Changes like: moving the medical practice, opening another medical location, adding another medical physician to the group, or changing your medical practice name must all be reported. These forms are very complicated and time consuming. Incomplete or inaccurate documents could significantly affect your cash flow.
Advanced Billing Consultants is very experienced with the medical forms and medical applications necessary to achieve a variety of goals. Medicare forms and applications are especially important; and very cumbersome to complete. For your convenience, there are a few links to the most often used Medicare forms here. Note: Medicare changes their forms routinely. If you use an outdated version, the form will be rejected and you will have to complete the information again on the revised version. Advanced Billing Consultants can complete these forms for you, or be available for any questions you may have.
Are you aware the Medicare Fee Schedule affects how most of your medical insurances companies pay you? even if you do not participate with Medicare?
Most medical insurance companies base their medical fee schedules on the current year’s Medicare Fee schedule. For example, United Healthcare may pay you 105% of the current year’s Medicare fee schedule. If the federal Medicare Fee Schedule is decreased by 20%, most all your medical insurance payments will decrease by 20%. This is why it is important to renegotiate your contracts when they are up for renewal to lock in rates for the medical services you provide most. Renegotiating your contracts will ensure that you continue to receive adequate reimbursement for the most popular, or expensive medical services you bill to medical insurances companies.
Advanced Billing Consultants can help you analyze your contracts and devise a plan to start getting your contracts in line so you are being reimbursed fairly. Advanced Billing Consultants can also answer any questions you may have when considering adding, or dropping a contract.
Do you have a CAQH database?
If you are considering adding a contract, you will probably need to be credentialed first. More and more medical insurance companies are utilizing this web based tool designed to streamline provider credentialing applications. Some medical insurance companies are requiring participation in this program in order to consider your application. They may also require you to re-attest your CAQH database every 60 days or the contract could be terminated. Advanced Billing Consultants can help you register, or maintain your file. To be successfully credentialed in a timely manner, it takes constant follow up. Advanced Billing Consultants can help you handle any of your credentialing needs, or answer any questions you may have.