Starting a Medical Billing Business > Starting Your Own Medical Billing Business

INVOICING

(1/3) > >>

ellie:
Hi Everyone,

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

Thank you

PMRNC:
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 :)

aksharhealth:

--- Quote from: PMRNC on February 05, 2011, 04:09:19 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 :)

--- End quote ---

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:
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. 

medauthor:

--- Quote --- Each time you have to chase down a payment or get the payment info from anyone but the provider.
--- End 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!!

Navigation

[0] Message Index

[#] Next page