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Digg it UP - Medical Billing - How Bad Are Things Really?
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What about turnaround time for claims. Yes, we all complain that our claims take forever to get paid. But what we don't understand is that the people who are really getting kil
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For example. Did you know that it costs between $8 and $10 to process the average medical claim? Now maybe if you're charging a procedure that costs thousands of dollars, that's not such a big deal. But what if you're putting in a claim for a $50 walker. That's almost 20% of the total cost of the item, which is absolutely absurd. So yes, in this case, costs are crazy. And the problem is very simple. To process a claim, the same procedure must be followed, regardless of what the service being billed is. If the walker could be processed at a cheaper cost, no problem. But that is just not the reality of it.
Forgetting about claim processing costs, what about salaries? Well, for the fortune 500 company like Prudential, paying a salary of $35,000 a year for a claims processor is not such a big deal. But when you're talking about a non profit organization like Medicare, which is actually running in the red and in danger of shutting its doors, paying these people that same $35,000 a year is insane. But they have to. Why? Because if they don't, where do you think they're going to go? To the private sector of course. So salaries must be competitive.
What about turnaround time for claims. Yes, we all complain that our claims take forever to get paid. But what we don't understand is that the people who are really getting kill
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For example. Did you know that it costs between $8 and $10 to process the average medical claim? Now maybe if you're charging a procedure that costs thousands of dollars, that's not such a big deal. But what if you're putting in a claim for a $50 walker. That's almost 20% of the total cost of the item, which is absolutely absurd. So yes, in this case, costs are crazy. And the problem is very simple. To process a claim, the same procedure must be followed, regardless of what the service being billed is. If the walker could be processed at a cheaper cost, no problem. But that is just not the reality of it.
Forgetting about claim processing costs, what about salaries? Well, for the fortune 500 company like Prudential, paying a salary of $35,000 a year for a claims processor is not such a big deal. But when you're talking about a non profit organization like Medicare, which is actually running in the red and in danger of shutting its doors, paying these people that same $35,000 a year is insane. But they have to. Why? Because if they don't, where do you think they're going to go? To the private sector of course. So salaries must be competitive.
What about turnaround time for claims. Yes, we all complain that our claims take forever to get paid. But what we don't understand is that the people who are really getting kil
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Forgetting about claim processing costs, what about salaries? Well, for the fortune 500 company like Prudential, paying a salary of $35,000 a year for a claims processor is not such a big deal. But when you're talking about a non profit organization like Medicare, which is actually running in the red and in danger of shutting its doors, paying these people that same $35,000 a year is insane. But they have to. Why? Because if they don't, where do you think they're going to go? To the private sector of course. So salaries must be competitive.
What about turnaround time for claims. Yes, we all complain that our claims take forever to get paid. But what we don't understand is that the people who are really getting kil
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Forgetting about claim processing costs, what about salaries? Well, for the fortune 500 company like Prudential, paying a salary of $35,000 a year for a claims processor is not such a big deal. But when you're talking about a non profit organization like Medicare, which is actually running in the red and in danger of shutting its doors, paying these people that same $35,000 a year is insane. But they have to. Why? Because if they don't, where do you think they're going to go? To the private sector of course. So salaries must be competitive.
What about turnaround time for claims. Yes, we all complain that our claims take forever to get paid. But what we don't understand is that the people who are really getting kil
When you're planning an event, timing is of essence and one deadline after another makes its mark on the calendar. Getting registration started is an early priority as people may lose interest if they can't register when they want to or they may have made other commitments by the time registration begins.If you're using online registration, a simple online
What about turnaround time for claims. Yes, we all complain that our claims take forever to get paid. But what we don't understand is that the people who are really getting killed are not the patients, because they will eventually have their claims paid, but the billing companies. Turnaround time for paper claims can be anywhere from 30 to 90 days or more and this really puts a strain on a company and its cash flow. So as bad as the patient may be having it, the medical billing company is suffering big time.
When you add all this to the cost of just starting a medical billing agency, you can see that the industry itself is behind the 8 ball before it even begins. Throw into this mix doctors who back in the 60s charged $15 for a doctors visit, now charge anywhere from $50 to $100 for a visit and what you end up having are costs that are totally out of control.
This is a spiral that is most likely to continue until people can no longer afford to get sick.
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