Medical Office Billing Discrepancy
Not what you're looking for?
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.
Purchase this Solution
Solution Summary
Procedure to ensure timely billing and importance of such procedures for timely billing. How timely billing relates to the medical offices' cash flow.
Solution Preview
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 ...
Purchase this Solution
Free BrainMass Quizzes
Stress Continuum
All humans experience stress and a certain level is motivating for learning. However, a high level of stress for prolonged periods of time may have a negative impact. This information focuses on the four stages of stress. Understanding stress assists in maintaining a healthy level.
Labor and Delivery
Do you know about the stages of delivery? Find out with this quiz!
Fibromyalgia
This quiz provides a brief overview of Fibromyalgia. Research is currently evolving regarding this diagnosis.
Crohn's Disease
How much do you know about this condition?
First Aid
Do you know how to provide first aid?