For the past decade I have watched many practices go from “accepting assignment” from insurance carriers to “cash practices” and also worked with “cash practices” to practices that “accept assignment” from a selected insurance carriers. Either way there is a lot of time that goes into make a transition from one to the other.
In my article Cash Practice or Insurance Practice? That is the Question that appeared in the November 5, 2007 issue of Dynamic Chiropractic, both the legal and best practice issues were presented.
Here are some questions to consider if you are going to become a “cash practice” and by a “cash” practice I mean one that collects 100% from all patient at the time of service:
- What do I do when an established patient has a work related injury and I am required to bill the carrier and accept payment from the carrier?
- What do I do when an established patient becomes Medicare eligible and I don’t want to bill Medicare for them?
- What are the legal aspects in my state regarding pre-paid plans and time of service discounts?
- Do I have the same documentation requirements?
- Why would I not accept payment in full from a personal injury patient and not give them a super bill or bill for them?
For the past 37 years as a C.A. I have spent the past seven of them working in “cash practices” and there have been challenges because not everyone can or will come to a practice that is not in-network with their carrier and it is still hard to know that some patients will have to go to another doctor because of the office policy, but what I do know is that patients who do come and pay in full at the time of their visits are great patients. They are there because they know that the doctor is worth it.
The answer to bullet point 4 is “yes”. In my Essential Coding for the Chiropractic Practice webinars we cover the basic diagnostic (ICD-10), procedural, supports and supplies (CPT and HCPCS) and codes. I will also take you through the process of doing an Evaluation Management audit.
To register for a webinar click here.
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