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Medical Claims: What Can Medical Claims Software Do for My Clinic?

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There are many benefits of having an up-to-date medical claims software tool. A good claims software system will help ensure you receive fast reimbursement for all the services you provide to your patients, stay compliant with current health regulations, save time and reduce costs for your office.

You will have instant access to all billing data and be able to monitor the performance of your practice using real-time financial information and analytics. The operational efficiency of your office can improve greatly by relying on a highly trained, supportive medical claims software team to respond to any questions you have about patient billing issues.

Electronic patient medical billing ensures your patient healthcare data is stored securely and in compliance with HIPPA (Health Insurance Portability and Accountability Act) regulations. This reduces the risk of a legal complaint for your office. You can also feel confident knowing you won’t have to shoulder the responsibility of any changes to billing regulations, unforeseen technical difficulties or data storage issues.

You have enough to focus on with patient registration, scheduling and providing quality health care for your patients. Let a trained and qualified medical claims software team take care of routine medical billing, billing related compliance, and the resolution of billing issues for you.

There is no easier way to have a direct impact on your clinic’s financial performance than a software tool that will ensure that you are paid promptly for the patient care you provide. Contact Apex EDI to request more information. We would love to provide you a free demonstration of our software today.

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Claims Processing: Why Doctors Should Monitor Medical Claim Status

Doctor fees

Most doctors have experienced some medical claims headaches at some point in time. The routine monitoring of patients’ medical claim status can help you prevent potential problems or claim denials before they occur. The likelihood that you will ever receive a payment drops significantly if your claim is denied once.

You can save a lot of time by using an electronic medical billing software system. Electronic transactions and standardized reports make it much easier to ensure payments for health services are accurate. Automated computer billing rules can spot problematic claims before they are submitted.

Then, of course, no one likes to follow up on late payments, but if you delay you are much less likely to receive full payment for services rendered. Medical billing software can simplify the process of tracking receivables and monitor underpayments to ensure that you follow up quickly. It also ensures that you stay compliant with ICD-10 regulations.

A good software tool gives you the ability to spot problems at a glance. You will be able to catch errors, see the status of all claims and know when you need to follow up right away. We want to make this process easy for you and free up your office staff’s time to care for patients.

At Apex EDI our supportive, highly skilled staff is always ready to assist you. We want you to get paid on time for every patient’s medical claim. Contact us at Apex EDI to request a software demonstration today.

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Medical Claims: Patients Can Claim Medical Expenses on Taxes

Series for United States Tax season, with 1040 forms, etc.

When patients have unexpected medical expenses, it’s nice to know that there are many claims that can be deducted from income taxes with proper documentation. Preventive care, treatment, surgeries, dental, vision care, medications, and health related appliances like glasses or false teeth can all qualify under IRS rules as medical expenditures.

Medical expenses that the patient is reimburse for by the insurance company or employer cannot be deducted from income taxes. Non-prescription drugs and other general health related fees such as health club dues, vitamins or diet foods do not qualify for exemption.

To utilize these tax rules, the patient must be able to itemize tax deductions. This requires billing receipts and documentation of all medical claims incurred by the patient for health care services. Travel expenses such as mileage to and from the doctor’s office, taxi fares, and parking fees can also qualify for deductions with accurate records.

The patient must also be able to show these medical deductions are greater than the standard tax deduction allowed and that they exceed 10% of their adjusted gross income for the year. While it’s a lot of information to keep up with, the Apex EDI software helps organize the details they will need for you.

We know you want to provide exceptional patient service and be prepared to respond to tax time requests. Let Apex EDI simplify the process of filing medical expenses and claims information for you. You will be able to retrieve all of the information your patients need quickly with ease.

Contact Apex EDI to request a free demonstration of our software.

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Medical Claims: How Long You Should Keep Medical Claims and Bills

Keeping medical claims documents and billing information can be useful for many reasons. They help you establish a health history for yourself or loved one, ensure you are receiving the medical benefits you are entitled to, and demonstrate that you’ve met an annual insurance deductibleYoung woman physician with stethoscope prescribing treatment and qualifications for income tax deductions.

You will want easy access to records showing the services provided, the payment amounts billed for services, the amount covered by insurance or Medicare, and the amount you paid the provider. People often wonder how long they should keep this information. If you have ongoing health care needs, paperwork can pile up very quickly.

Generally, if you are in good health and seeking treatment for normal preventative health care and maintenance you should keep medical claims and billing information for one year. At the end of the year, if you qualify for a medical tax deduction then file this information with your income taxes. Keep your tax file on hand for seven years.

If you are facing a serious health condition or chronic illness, it is important to keep medical claims and billing information close by for at least one year. At the end of the year, if you have filed for a tax deduction store the information with your income taxes and cross reference it in a medical file. In the medical file, you will be able to match services with billing receipts and retain the information until the health condition has subsided.

In the unfortunate event that the patient has passed away, the medical services and billing information may be needed for the execution of a will. The information will be available to wrap up the legal process and settle the estate as quickly as possible for the entire family.

While a file cabinet may do, a more effective and efficient way to store medical records is to keep them electronically. This will keep the information you need safe and secure from water damage, disorganization or loss. At Apex EDI we provide the service and software to organize your medical claims and billing information.

Contact us to request a free demonstration of our software today!

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Medical Billing Clearinghouse: Avoid Medical Claims Billing Problems

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All providers want to be reimbursed promptly and accurately for their services. Unfortunately, human and electronic errors are unavoidable and can slow down medical claims processing. Our goal at APEX EDI is to reduce as many of these delays as possible and accurate reimbursement.

There are some very basic information errors that can be quickly eliminated by using a medical claims software. Inaccurate patient information such as a misspelled name, date of birth, address, or insurance ID number can lead to a rejected claim.

Mismatching medical codes or confusing ICD, CPT or HPCS codes can result in too many or too few digits for a claim to be processed. Insurance policy numbers, addresses, and contact information can also be difficult to enter correctly when required numerous times during service. If you can reduce the number of these simple errors in your medical billing, you’ll have a much higher percentage of claims that pay you for service quickly.

Poor documentation and misinformation such as coding for a less serious or extensive procedure than the patient received can also cause serious problems. Intentionally misrepresenting the work performed on a patient is considered fraud and illegal, even when the intent is to help the patient save money.

It’s important to stay current on medical billing regulations and be proactive by preventing problems before they occur. Always have clinic staff double check for errors and communicate quickly about any billing questions. At Apex EDI, we have a highly trained team of experts ready to answer questions about billing regulations.

Our software can also help eliminate many simple billing errors. The investment in a few preventative actions and tools will pay off greatly. You will have the peace of mind knowing your medical claims are being handled with speed and excellence.

Contact Apex EDI for a demonstration of our software today.

Posted in: Medical Billing Clearinghouse

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