Podiatry Coding & Billing Alert

Collections Q&A:

Create a Solid Financial Policy That Tells Your Patients Exactly What You Expect

Get answers to your top financial policy questions from a billing expert.Having a financial policy is essential for any practice's financial success. A detailed and documented policy helps both your employees and your patients know how your practice handles the financial side of healthcare. Follow this advice from billing and reimbursement expert, Cyndee Weston, CPC, CMC, CMRS, executive director of the American Medical Billing Association in Davis, Okla., to ensure your practice employs financial policies that work and then that you adequately communicate those policies to your patients. Question 1: Why Do We Need a Clear Financial Policy?A financial policy is a "formal set of procedures that your practice follows with regard to collecting money," Weston explains. There are several reasons your practices should develop, implement, and continually evaluate a set financial policy, Weston advises. "It's really a very real part of effective customer service with your patients," she adds. You'll also [...]
You’ve reached your limit of free articles. Already a subscriber? Log in.
Not a subscriber? Subscribe today to continue reading this article. Plus, you’ll get:
  • Simple explanations of current healthcare regulations and payer programs
  • Real-world reporting scenarios solved by our expert coders
  • Industry news, such as MAC and RAC activities, the OIG Work Plan, and CERT reports
  • Instant access to every article ever published in Revenue Cycle Insider
  • 6 annual AAPC-approved CEUs
  • The latest updates for CPT®, ICD-10-CM, HCPCS Level II, NCCI edits, modifiers, compliance, technology, practice management, and more