Author Topic: INVOICING  (Read 3698 times)

ellie

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INVOICING
« on: February 05, 2011, 12:56:02 PM »
Hi Everyone,

Would anyone tell me how they might invoice their client, on how much they have collected for their office.

Thank you

PMRNC

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Re: INVOICING
« Reply #1 on: February 05, 2011, 01:09:19 PM »
I use Quickbooks for my invoicing. I have a time management software that keeps track of my time but that is for my eyes only since I charge flat fees monthly. My flat fees are creating using a formula based on what I want to make per hour. I use my time management software to run reports to make sure I am being compensated fairly or to see if I need to re-negotiate the contract.  If billing on a % than you run your report on receivables, if you are getting paid on % of ALL practice revenue, you need only run a report of the total monthly receivables, if you are billing a % on insurance payments only than you would run a report on all insurance payments.. etc. Check and see if your PM software has an integration feature to Quickbooks :)
Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com

aksharhealth

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Re: INVOICING
« Reply #2 on: February 05, 2011, 01:25:19 PM »
I use Quickbooks for my invoicing. I have a time management software that keeps track of my time but that is for my eyes only since I charge flat fees monthly. My flat fees are creating using a formula based on what I want to make per hour. I use my time management software to run reports to make sure I am being compensated fairly or to see if I need to re-negotiate the contract.  If billing on a % than you run your report on receivables, if you are getting paid on % of ALL practice revenue, you need only run a report of the total monthly receivables, if you are billing a % on insurance payments only than you would run a report on all insurance payments.. etc. Check and see if your PM software has an integration feature to Quickbooks :)

Linda,

I am charging % billing and thats what I do that I run receivables report and invoice them. One of my client gives me hard time every month stating that her deposits don't match with my receivables report. I always inform her that I have a proof in the form of EOB which I entered. Now onwards I told her that if she don't provide me copy of deposit slip and even I have EOB, I will not enter this payments, but then this will raise my AR. I don't bill her for cash copays collected at front. So I only bill her for all check payments. Some times she don't forward copy of patient checks and then when patient call me and give me ck# and cash date, I post that payment. Every month I have to see this doctor personally to get paid. It takes a lot of my time to explain her. I know that I can refuse her the services but as I am new bie, I don't want to loose this client. How can I resolve this issue.

PMRNC

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Re: INVOICING
« Reply #3 on: February 05, 2011, 02:09:07 PM »
Because you are new, i can understand wanting to take an extra step to keep them happy.. So .. What I would do is get a small notebook.  Each time you have to chase down a payment or get the payment info from anyone but the provider..write it down.. document it.  At end of the month, present this to the provider with your invoice and montly reports and hold their hand through explaining that you NEED the information so that everything DOES match! Then I would write him a letter right after the meeting.. something that goes like this. 

Dear Doctor _____

It was a pleasure to get together with you today so that I could better explain the billing process to you and the importance of your responsibility in helping me keep accurate account of all your revenue. Hopefully by now you have had a chance to see where the discrepancies are coming from in your monthly invoice provided by us.  With that said, I would like to add that in the future, there will be an added charge of ___ for payments NOT received for posting to us from your office. This additional time spent on verifying these payments takes time and money from the other facets of your business.  If you still have questions about what we spoke about and how to implement a better system for your office to be sure all payments are being accounted for by your office and then sent to ours, please don't hesitate to contact us so that we can go over this again and there are no more misunderstandings.  Please remember that my first priority is to make sure the billing process of your office goes smoothly and that payments as well as claims are reported both accurately and timely. 

Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com

medauthor

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Re: INVOICING
« Reply #4 on: February 05, 2011, 03:31:54 PM »
Quote
Each time you have to chase down a payment or get the payment info from anyone but the provider.

I consider the above to be part of Full Practice Management or A/R Recovery Services.......if you are charging your provider 'ala carte', then...OK, I suppose you could charge him for this................personally,I never would.....Just figure the above into your Flay Monthly fee!!
Michelle Rimmer, CHI, CPMB
President-Professional Medical Billers Association
Owner-ABA Therapy Billing Services
Author, 'Medical Billing 101' and 'Coding Basics: Understanding Medical Collections

PMRNC

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Re: INVOICING
« Reply #5 on: February 05, 2011, 03:59:10 PM »
Quote
I consider the above to be part of Full Practice Management or A/R Recovery Services.......if you are charging your provider 'ala carte', then...OK, I suppose you could charge him for this................personally,I never would.....Just figure the above into your Flay Monthly fee!!

Every other business charges for extra services and/or time. Chasing down payments when the provider does not send information is basically a contract issue. Providers responsibility is to provide the billing company with the necessary work needed to do their job. If you worked as an employee in the office, and you had to stay late, would you not get paid for that time? Of course you would.  The provider already sees a substantial savings by outsourcing, that doesn't mean the billing company should be undercut because that sets a precedence that they don't mind going around chasing their tail. Also many times providers keep these payments deliberately, unless that problem is resolved it will happen over and over. I've never had a problem after sitting the provider down once and referring them to my contract under "provider responsibility"  Let them slide on one part of your contract and pretty soon the contract doesn't mean squat. Providers that are NOT doing it deliberately also learn how to better organize their priorities which in the long run is beneficial to their practice.  Get paid for what your worth.  If the provider is unhappy about this than it's pretty clear he doesn't want the biller to know of these payments, and why would anyone continue with a client like that?  

Quote
Just figure the above into your Flay Monthly fee!!

I believe both were looking for information if billing on a %.  Billing on a percentage means the biller gets paid a % of collections.. right? Well if they are not sent the proper information to post the payments, the biller gets hit in the pocket.. sorry that's just not fly with me.  All more reason to correct this situation so you are not running around doing all that work for nothing.   
« Last Edit: February 05, 2011, 04:03:53 PM by PMRNC »
Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com

midwifebiller

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Re: INVOICING
« Reply #6 on: February 10, 2011, 10:29:34 PM »
Linda,

Please tell us more about your time management software.  I think you said it was ACT-?
Kelli Sugihara, CPMB
Midwife Billing & Business, LLC
www.midwifebilling.com

Pay_My_Claims

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Re: INVOICING
« Reply #7 on: February 10, 2011, 10:45:19 PM »
Quote
Each time you have to chase down a payment or get the payment info from anyone but the provider.

I consider the above to be part of Full Practice Management or A/R Recovery Services.......if you are charging your provider 'ala carte', then...OK, I suppose you could charge him for this................personally,I never would.....Just figure the above into your Flay Monthly fee!!

i avoid all of that chasing by enrolling my providers in ERA's If I bill out of my system, I get the remits. If I am using theirs to bill....I get the remits. MOST all insurance companies now are requiring that you sign up for both eFT payments and ERA's Aetna, Medicaid(nc), BCBS no longer send out remits with the checks. You must either obtain them online, or have a program that they can be uploaded to

PMRNC

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Re: INVOICING
« Reply #8 on: February 11, 2011, 06:36:17 AM »


Quote
Please tell us more about your time management software.  I think you said it was ACT-?

I use ACT by Sage, like PM software I can create several separate databases. I have one for each client and then I also have another database for my marketing and any/all leads

I can attach documents, track time, opportunities, notes and emails BY provider.  I also use it to keep organized all my interactions with each client, daysheets/superbills are all scanned and kept in the documents area of each client. You can password protect each database and the whole program as well. I can send and receive emails right from each client and both sent and received stay neatly in the file of each client or lead.  I can also produce letters, invite to conference call, schedule meetings. I've been using Act for YEARS and through the years they have gotten better. Some really powerful features and it's VERY easy to learn.  You can check them out a www.act.com  I can't live without this program!
Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com

aksharhealth

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Re: INVOICING
« Reply #9 on: February 11, 2011, 07:16:37 AM »


Quote
Please tell us more about your time management software.  I think you said it was ACT-?

I use ACT by Sage, like PM software I can create several separate databases. I have one for each client and then I also have another database for my marketing and any/all leads

I can attach documents, track time, opportunities, notes and emails BY provider.  I also use it to keep organized all my interactions with each client, daysheets/superbills are all scanned and kept in the documents area of each client. You can password protect each database and the whole program as well. I can send and receive emails right from each client and both sent and received stay neatly in the file of each client or lead.  I can also produce letters, invite to conference call, schedule meetings. I've been using Act for YEARS and through the years they have gotten better. Some really powerful features and it's VERY easy to learn.  You can check them out a www.act.com  I can't live without this program!

They have many different products. Which one you are using?

PMRNC

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Re: INVOICING
« Reply #10 on: February 11, 2011, 09:55:05 AM »
I'm using the ACT Pro 2011 Version.  They do have a few, because I have two businesses that somehow integrate I like the pro version for it's ability to separate and sub-separate. In other words, for my group practice's with my practice management, I have ONE group setup and each doctor within that group. For my web design/hosting company I can setup different tasks for each domain and by each company. For my consulting clients I can do the same and every document I create such as Policies & Procedures, office/financial policies, Audit's etc I can keep RIGHT there in one spot. I also use it to keep track of PMRNC members, retain emails, receipts, renewal's, and provider inquiries that come in for reference from our listing companies. I even keep a separate database of all providers who request some referrals to billing companies and billers who want me to keep their resume's on file.  Some call me a little too organized :)  But whenever someone needs something they usually come to me and I find it fast.
Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com

aksharhealth

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Re: INVOICING
« Reply #11 on: February 12, 2011, 12:01:38 PM »
I'm using the ACT Pro 2011 Version.  They do have a few, because I have two businesses that somehow integrate I like the pro version for it's ability to separate and sub-separate. In other words, for my group practice's with my practice management, I have ONE group setup and each doctor within that group. For my web design/hosting company I can setup different tasks for each domain and by each company. For my consulting clients I can do the same and every document I create such as Policies & Procedures, office/financial policies, Audit's etc I can keep RIGHT there in one spot. I also use it to keep track of PMRNC members, retain emails, receipts, renewal's, and provider inquiries that come in for reference from our listing companies. I even keep a separate database of all providers who request some referrals to billing companies and billers who want me to keep their resume's on file.  Some call me a little too organized :)  But whenever someone needs something they usually come to me and I find it fast.

Linda,

You are great organizer. Thanks for information.