Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

a.) How often will a statement usually be sent out if there is a balance on the account? b.) In which part of the process

  1.  a.)  How often will a statement usually be sent out if there is a balance on the account?

     b.) In which part of the process is patient information verified?

     c.)  What percentage comes from private pay insurance?

     d.) In which part of the process are no shows explained?

     e.)  In which part of the process are fee schedules discussed?

  2.  Mrs. Johnson is an established patient of the medical practice. She comes into the office for her scheduled appointment and is seen by Dr. Smithers. At the checkout station, instead of paying her office visit copayment, she informs the cashier: “Dr. Smithers said that I did not have to pay today.” The cashier reports the incident to the practice manager. What steps should the practice manager take in a case like this?

  3.  Ann Reynolds has recently been hired as practice manager for Dr. LaRue. In reviewing the financial records of the practice, she notices that a substantial amount of money is owed by patients with outstanding balances. Further review finds that the practice has no written financial policies outlining the responsibility of patients in paying for their costs of medical care. Outline a set of basic financial policies to address patient responsibility for payment of charges.

  4. Tom Gregory is the practice manager for a local urologist. The practice has a detailed set of financial policies dealing with required payments from patients, but the staff have not been enforcing the policies and patients are not familiar with the requirements or the reasoning behind these policies. 

     How does Mr. Gregory address this issue? 

  5. Granite State Medical is experiencing claims denials in a larger percentage than industry average. As the practice administrator, what steps would you take to bring down the percentage of denials? 

  6. As practice manager for a single-physician medical office, you notice that the physician is coding most patient contacts as simple office visits, and the practice is reimbursed by insurance at the lower reimbursement level. How do you ensure that the practice is paid for all appropriate costs of medical services provided?

  7.  John Donald is an established patient of the medical practice with chronic health conditions. Mr. Donald also has a history of missing appointments without any prior notification to the practice. As the practice manager for the office, what steps would you take to convince Mr. Donald to stop missing appointments?

  8. Dr. Findley and Dr. Rocker are partners in a family medicine practice. The practice appears to be busy and well run, but always seems to be short on cash at the end of the month. Billing rates are appropriate, and staff member salaries and draws of the partners are in line with the area. You are the practice administrator, and the partners have asked that you review the problem and make recommendations. What areas will you look at to improve the revenues of the practice?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Lets address each part of the question systematically 1 Multiple Parts a How often will a statement usually be sent out if there is a balance on the account Statements are typically sent out on a mont... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Analytical Corporate Valuation Fundamental Analysis, Asset Pricing, And Company Valuation

Authors: Pasquale De Luca

1st Edition

331993550X, 9783319935508

More Books

Students also viewed these Accounting questions

Question

Write down the financial analysis report of Joe traders

Answered: 1 week ago

Question

What are the pros and cons when 2 major restaurant chains merge?

Answered: 1 week ago