Tuesday, January 25, 2011

The Medical Entrepreneur book advises Medical Residents how to bill and get paid

Billing and getting paid are two entirely different issues. Billing is the act of electronically submitting a charge to an insurance company for services provided. Getting paid is receiving back what the insurance company contracted rate for you may be for those services. Often times, insurance companies defer, delay, or reject initial claims and as a result the billing process results in an accounts receivable that must be followed closely. The Medical Entrepreneur book really covers this area of importance in your medical practice so you can understand that different types of billing software, insurance company policies and procedures, collection of copays and deductibles and accounting processes you need to have in place to run your medical practice smoothly.

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