Mitch's Blog

Years ago I read a news story titled “The Check Is Not In The Mail”. It was a fascinating story about a health care organization called Athenahealth that did a brief study on how the nation’s seven biggest health insurers pay their bills. What they found wasn’t shocking to anyone who’s ever had to try to collect on hospital or physician’s bills for a living.

They had incidences of companies saying they didn’t have copies of their bills, even when the provider had a signed copy of a registered receipt. They had insurers telling them that they were limited to only so many questions per phone call. I’ve dealt with many of these issues over the years.
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If you’re self employed or looking to work for yourself, I’m about to drop some serious knowledge on you that you might not like. You know how much you get paid? Sorry to tell most of you but that’s exactly what you’re worth.

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If you’re making $8 an hour working at a fast food joint you might not like reading this but it’s true. If you’re a teacher making $35,000 a year, you won’t like hearing it either. This isn’t meant as a condemnation; instead, it’s meant as a wake up call.
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Just like almost all businesses large enough to have employees pay someone to audit their businesses, hospitals sometimes need to, or should have, someone come in to audit their receivables process. It can involve looking at the charge master or how charges are captured, or a host of other things. This article is specifically going to talk about the billing process because it’s one of the most critical parts of the hospitals financial health.

by 453169 from Pixabay

In general terms, we start talking about receivables when the billing process begins and it’s time to try to collect payment on the charges submitted by departments within the hospital. A review of receivables usually means looking at the billing process because it can be unwieldy and complicated… or has been made to be so over time. Depending on the depth a hospital is looking for, a review can take a week, or it can take a month or more.
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One of the strange things about this blog is that I get a lot of comments from people, but they’re usually in an email instead of commenting on the blog itself. I’m not quite sure why; it could be the topics I write about I suppose. Thus, it’s possible that many people are in business and are worried that someone they work with will see their comments or questions and report it back to someone.

Regardless, I had a few interesting comments on my article titled Making Waves Does Not Make You A Troublemaker. Everyone agreed, but one person in particular asked how one decides when to stop making waves and move on with life.
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In last week’s article I mentioned that I’d be talking more about revenue codes this week. I touch upon revenue codes twice in a row because, though many people aren’t sure what it is, before I shut down my medical billing website, this was the largest area of concern for visitors and those with questions.

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Therefore, I’m going to make an assumption that there’s a lot more information some folks would love to learn about them, other than the quick synopsis I put in that article. Therefore, I’m going to address 5 things about revenue codes that people might not know, mainly because 5 seems to be a magical number. This won’t answer everything, but it will serve two purposes. One, it’ll hopefully give you a bit more to work with; two, it’ll hopefully get some of you to request my assistance with a bit of consulting. Such is the nature of business; let’s get to it!
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