My Office Profitability
NEWSLETTER
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The CNS for the Chiropractic Office®
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November 2008 |
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 "Billing Precision's team is obsessed with
getting
chiropractors
paid.
Its technology is the backbone of my practice,
which is now
completely
paperless."
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Welcome New Members!
- Sonya Bladow, DC - Total Lifestyle Chiropractic - Scottsdale, AZ
- Sarah Ernst, DC - Cornerstone Chiropractic - Charlotte, NC
- Alicia Farrell, DC - Gulf Coast Family Chiropractic - Gulf Shores, AL
- Jeffrey Schoeller, DC - Cafe of Life Chiropractic - Denver, CO
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Nathan Thompson, DC - Thompson Chiropractic Clinic Inc. - Yorkville, IL
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Medical Billing Payment Delays - #1 Payer's Tactic to Increase Profits at Provider's Expense
Q: Do insurance companies benefit from payment delays?
A: Yes,
they do. Payment delays are directly proportional to profits: the
longer is the delay--the higher is the profit. In some cases, half of
their profit margin originates on the float, such as Aetna in 2006:
Premium 7%
Interest on Premium 7%
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Total 14%
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Referral Discount CollectionsMake sure you send Stephanie (scapra@billingprecision.com) list of referrals made in 2008 to collect 10% discount off your November invoice for each qualified referral in 2008! Going forward, instead of the November discount, receive $100 bonus for each referral that signed a contract with Billing Precision. Year-End Contest: refer friends before December 15, to win $1,000!
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End of Year - How to print patient address list for birthday or holiday cards? - How to prepare patient labels for charts? OR How to download patient
emails?
The Patient List
report contains information that is useful for
exporting to other programs for mail-merge or email. If you export this data to an Excel spreadsheet,
you can easily delete the data you do not need and then
merge your spreadsheet to your mail-merge or email program.
- Select: Reports -> Misc -> Patient List
- Beginning with the 1st Field Heading, select all data by highlighting from the top-left to lower-right portion of the screen
- Press: Ctrl-C to "Copy" the data
- In Excel, select: Edit ->Paste Special ->Text (You may need to adjust the field headings by one column to match up with their corresponding data)
For more info, Search Vericle System Support Group using keywords: "patient list birthday"
Provided by Marie Hauge, Billing SPOC
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New Class - Advanced Reporting I
The extensive reporting
categories range from useful front-office reports such as scheduling,
to the most detailed analysis of where payment problems may be stemming
from, as well as providing tools to determine if a provider's charges
and payments are on target:
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Month To Date (MTD) Charge Payment Report
- A/R Balance Report
- Outstanding Balance Report
- $ Stats Report
- Expected / Allowed Report
For example, MTD Charge Payment Report is a unique report that allows a real-time tracking of
actual charges made and payments received, with respect to customized
expectations, in addition to getting a snapshot of where
claim hold-ups are. To view this training class, visit Take Classes link under the Help menu. |
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David Klein's "Coding
101" Recording
A recording of David Klein's "Coding
101: General Principles in Coding & Documentation - Correct
way to bill for therapies, corrective care, and more" is now
available on Vericle's System Help here (Chiropractic Webinars page) FREE for Billing Precision clients.
David
Klein, CPC, CHC, is a certified professional coder through the American
Academy of Professional Coders (AAPC), and is certified in healthcare
compliance through the Health Care Compliance Board (HCCB).
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Latest Vericle ReleaseThe new Vericle release allows for tracking of both positive and
negative test findings in your EMRs while only narrating the findings
you test for on the current note.
Bob Cunius
Chief Developer
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