Join Ads Marketplace to earn through podcast sponsorships.
Manage your ads with dynamic ad insertion capability.
Monetize with Apple Podcasts Subscriptions via Podbean.
Earn rewards and recurring income from Fan Club membership.
Get the answers and support you need.
Resources and guides to launch, grow, and monetize podcast.
Stay updated with the latest podcasting tips and trends.
Check out our newest and recently released features!
Podcast interviews, best practices, and helpful tips.
The step-by-step guide to start your own podcast.
Create the best live podcast and engage your audience.
Tips on making the decision to monetize your podcast.
The best ways to get more eyes and ears on your podcast.
Everything you need to know about podcast advertising.
The ultimate guide to recording a podcast on your phone.
Steps to set up and use group recording in the Podbean app.
Join Ads Marketplace to earn through podcast sponsorships.
Manage your ads with dynamic ad insertion capability.
Monetize with Apple Podcasts Subscriptions via Podbean.
Earn rewards and recurring income from Fan Club membership.
Get the answers and support you need.
Resources and guides to launch, grow, and monetize podcast.
Stay updated with the latest podcasting tips and trends.
Check out our newest and recently released features!
Podcast interviews, best practices, and helpful tips.
The step-by-step guide to start your own podcast.
Create the best live podcast and engage your audience.
Tips on making the decision to monetize your podcast.
The best ways to get more eyes and ears on your podcast.
Everything you need to know about podcast advertising.
The ultimate guide to recording a podcast on your phone.
Steps to set up and use group recording in the Podbean app.
Insurance and Credit Cards – Streamlining Your Cash Flow in the New Year
Welcome to Billing Buddies YouTube and Podcast series.
In this episode, we will be discussing streamlining your cash flow in the New Year by obtaining current insurance cards and credit card authorizations.
With the New Year upon us, it is especially important to get copies of your patients’ active insurance cards and to get credit card authorizations to secure their accounts with your clinic. These two steps will significantly increase your cash flow. In fact, these two simple tasks will, if followed, increase your cash flow all year long.
Let’s start with the understanding that in the fourth quarter of each year, Medicare and private insurance companies have Open Enrollment. Open Enrollment is when patients can switch coverage for the first of the coming year. Because so many of your patients may have changed insurance coverage the first of the year, it’s imperative to get new copies of insurance cards and to update your billers and billing software with the new policy numbers. Also, if you get denials from insurance companies that coverage is terminated, it is wise to immediately call or send a statement to the patient for the balance, so they will either pay or respond with their current insurance information.
In addition, at the first of the year, deductibles go back into effect. Many clinics are starting to secure the patient accounts with a credit cards on file. Securing a patient account with a credit card on file is a straight forward process. You need to have a form for the patient to complete and sign that gives their credit card information and permission for you to automatically charge their credit card for any balances due. If you need a sample form to secure credit cards on file, please email bonnie@billingbuddies.com and put in the subject line “Credit Card Authorization”. My email again is bonnie@billingbuddies.com spelled out b-o-n-n-i-e-@-b-i-l-l-i-n-g-b-u-d-d-i-e-s.com.
Finally, remember that all year long it is important to verify a patient’s active coverage by getting copies of their current insurance cards and it’s important to secure their account with your clinic by having a credit card authorization on file.
Billing Buddies is a medical billing and consulting service established in 1994. We offer services to a variety of specialties across the United States. For more information, please call or text 612.432.2366. Thank you for listening to Billing Buddies YouTube and Podcast Series and remember to “Buddy Up with the Best.” Have a great day.
Create your
podcast in
minutes
It is Free