It took about 4 months to get things to cash flow w a very busy practice from the beginning. Insurers all want a W9 form on file. They delay paying till that is done. We can now fax one at the drop of a hat. Many times one box is not being filled our correctly on your forms or you are not using the correct modifiers. For the hassle paying 5-8 percent of collections is not too bad. I like not taking those calls and tying up my lines. I like sending a note to the biller and let them spend their time sorting it out. It took about 6 months for things to be coming in regularly. We lived on copays for quite awhile. Brent --- In Practiceimprovement1@yahoogroups.com, "Dennis Galvon" wrote: > Kevin > > > > I showed your plea to my office manager and she rattled off a number of > potential pitfalls: > > - are you tracking every charge? > > - have you submitted documentation with the right codes and modifiers? > > - are your "usual and customary charges" unreasonably high and your > insurers are paying far less? > > - how much Medicare / Medicaid have you billed? > > - are you credentialed, have signed contracts and Tax ID's sorted out > with every insurer? > > I know she is an expert in billing and collections, and works full time > to get me paid, but there are inexplicable gaps and delays. > > We go from receiving $5000 a week down to $2200 per week with > breath-taking speed and no apparent change in our pattern of seeing > patients. > > > > There is a 30-60 day 'built in' or inevitable delay in any billing > process - but most clean charges will be back in 60-90 days. > > So if the early ones are not back, they must be individually worked up, > wrung out, chased down and shaken down for all your hard earned cash. > > That includes, if payment is denied, then you have to send out piles of > bills to patients when the insurer will not pay up. > > I know that I am not physically and emotionally capable of collecting > every buck that is owed to me, so I hired someone to do that for me. > > > > We are at the mercy of US Health Care Chaos - and everyone else gets > paid before we do, yet are really the only ones doing the work. > > Go figure. > > > > Good luck, Kevin > > > > > > > > > > -----Original Message----- > From: Kevin Egly [mailto:kevin_egly@y...] > Sent: Monday, September 20, 2004 6:36 AM > To: Practiceimprovement1@yahoogroups.com > Subject: [Practiceimprovement1] How do you get paid? > > > > Dear group: > > > > I have been in practice for nearly four months. My wife and I have > cared for 172 patients some with multiple visits, hospital stays, and > home care. Our average charge to-date is $126-131, but of the $28,000 > of built invoices for mostly commercial insurance we have been paid only > about $2800. We have written off $280 based on payors usual and > customary. The $2800 dollars is 1/3 copayment, 1/3 coinsurance, 1/3 > insurance payments. We thouoght the reimbursement delay would improve a > month ago when we started billing through THIN a division of BCBS. We > receive 1/3 of the submitted invoice payments with in one week, but the > remaining 2/3 is still in limbo. > > > > If I paid my mortgage, electric, phone, dinner tab, or credit card > bills, like this I would be in collections and have a poor credit > rating. I have avoided a billing service because of the 8% of net > collections required. This would represent somewhere between 10 - 20% > of my actual take home income. It boggles my mind to think collecting > payment for my service is worth 20% of my service to patients, after > discounting my fees 30% for insurance companies, while patients are > paying 25-36% of their visit fees out of pocket. > > > > I know part of this have been discussed before, but I could realy use a > littel perspective from each and everyone on this list serve to put this > reality in a better perspective for me. > > > > > > Kevin D. Egly M.D. > > Sandwiched in Sandwich, Illinois. > > _____ > > Do you Yahoo!? > Yahoo! > om/new_mail/static/protection.html> Mail - Helps protect you from nasty > viruses. > > > > > Yahoo! Groups Sponsor > > > > ADVERTISEMENT > > D=grphealth/S=1705061327:HM/EXP=1095777352/A=2319498/R=0/SIG=11thfntf p/* > http:/www.netflix.com/Default?mqso=60185352&partid=5285298> click here > > > > alth/S=:HM/A=2319498/rand=137119361> > > > > _____ > > Yahoo! Groups Links > > * To visit your group on the web, go to: > http://groups.yahoo.com/group/Practiceimprovement1/ > > > * To unsubscribe from this group, send an email to: > Practiceimprovement1-unsubscribe@yahoogroups.com > ribe> > > > * Your use of Yahoo! Groups is subject to the Yahoo! Terms of > Service. Yahoo! Groups Sponsor ADVERTISEMENT Yahoo! Groups Links To visit your group on the web, go to: http://groups.yahoo.com/group/Practiceimprovement1/ To unsubscribe from this group, send an email to: Practiceimprovement1-unsubscribe@yahoogroups.com Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.