Revenue cycle management
Revenue cycle management (RCM) is the financial process, utilizing medical billing software, that healthcare facilities use to track patient care episodes from registration and appointment scheduling to the final payment of a balance.
In this video topic covered are as follows
1.#Patient’s Appointment fixing to Doctor office.
2.#Patient’s Pre-Registration process.
3.#Benefits eligibility verification with payer.
along with the above topics covered
A. What is COB (Coordination of Benefits): This is the process by which a health insurance company determines if it should be the primary or secondary payer of medical claims for a patient who has coverage from more than one health insurance policy.
B.What is an (#AOB) The acronym AOB stands for Assignment of Benefit. It is a legal contract form, which is signed by patients requesting their healthcare insurance providers to directly send the reimbursement checks to the medical practice or physician, for the medical services utilized. Signing the AOB contract would simplify payment process for the patients since it permits healthcare practices to directly get paid by the patient’s insurance provider without involving the patient’s direct intervention.
C. What is #ROI (#Release of Information) form being used. This is a standard form to obtain your authorization for VA to be able to release sensitive (protected) health information to your insurance company for purposes of payment.
D. What is #ABN (#Advance Beneficiary Notice) also known as a waiver of liability, is a notice a provider should give to patient before receive a service, ABN serves as a warning that Medicare may not pay for the care provider recommends, it is possible that Medicare will pay for the service. To get an official decision from Medicare, patient must first sign the ABN, agreeing to pay if Medicare does not, and receive the care.
E. What is a #cost-sharing charge? A cost-sharing charge is the amount an individual has to pay for a medical item or service (e.g., hospital stay, physician visit, or prescription) covered by his health insurance plan. Plans typically have three different types of cost-sharing charges: a #deductible, #copayments and #coinsurance, although not all plans feature each of these three types of cost sharing.
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#Patient’s Pre-Registration process.
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