Net Collection Ratio
The net collection ratio is calculated this way: Cash collections divided by net charges. Net charges are the difference between gross charges and required government and third party adjustments. Use gross charges, insurance adjustments and cash collections for the same time period.
Example: Gross charges = $3,740,318; Cash collections = $2,070,275; Insurance Adjustments = 1,588,554
Net Collections = Gross charges-Adjustments 3,740,318-1,588,544=2,151,764.
What Does It Mean To Scrub An Insurance Claim?
During the rigorous training physicians undergo to learn their craft, very little education is received on how to deal with submitting claims to insurance companies. It’s unfortunately a necessary evil, as surgeons who contract with insurance companies rely on that reimbursement as the lifeblood for practice survival.
Receiving payment from insurance payers involves submitting claims after providing treatment. Whether it’s in an office setting, emergency ...
Subsequent nursing home visits
Subsequent nursing facility visits are reported with codes 99307--99310. These codes are defined as per day codes, and do not have new and established patient divisions. There are also initial nursing facility codes, which only a physician may use. A physician or NPP may use the subsequent facility codes, either before or after the initial service (the admission) is performed. It is often the case that an NPP sees the patient before the physician, in order to write ...