In reviewing the office's profit and loss statement, the office manager notices a discrepancy between the stated revenue and cash deposits. In fact, it appears that the office may have incorrectly booked $275,000 in revenue for the month. If this error turns out to be a fact, then the office will be unable to meet all of its financial obligations.
Suggest a procedure to ensure timely billing and explain the importance of such procedures for timely billing. Explain how timely billing relates to the medical officeâ??s cash flow.
Computer software such as Quickbooks is able to track patient balances and print billing statements. This same software should be able to file medical claims electronically to ensure timely payment. A 250k discrepancy would either be an error or an employee would may be embezzling money from the company.
Most medical billing errors can be fixed by training the proper staff. Training can be accomplished through a wide variety of methods. Past experience, professional classes, self taught ...
Procedure to ensure timely billing and importance of such procedures for timely billing. How timely billing relates to the medical offices' cash flow.