A Medical Office Manager’s Guide to Patient Collections
In a busy medical practice, the risk of error runs high. This is a dangerous assertion when you consider that mistakes in a medical record can negatively impact a patient’s health. Mistakes made repeatedly in medical claims may flag your practice for an audit and, if overpayments are found, can result in huge fines and penalties from the government.
Portions of this article were originally published in BC Advantage Magazine March 5, 2019
A whopping 25 to 31 percent of total health care expenditures in the U.S. are administrative costs, according to a time-driven, activity-based costing study published last year in the Journal of the American Medical Association (JAMA)1. These are huge margins for healthcare providers already squeezed by insurers and increasing costs of care. You may wonder if the grass is greener on the other side.