e-MDs Front Desk Tips For Maximizing Revenue : Part 5
5 Things Every e-MDs Front Desk Person Should Do To Maximize Revenue: Part 5 Change Those Financial Groups
Happy New Year!!! What does a new year mean at the front desk? A TON of new insurance cards. Make copies!!! See Part 4 for why that step is critical. So, we’ve got a copy of the card. CHECK! We’ve updated the insurance information in e-MDs. See our video instructional on that here. CHECK! We have terminated (not deleted) the old insurance. We have put the new insurance in the primary position. CHECK! We’re almost home!! The final step is to change the Financial Group in the demographics.
Changing the Financial Group is necessary to make sure the claim is filed properly. Open a patient’s demographics. Look in the lower left just above guarantor and you will see “Financial Group” (See red circle in picture above). We’re not going to get too fancy here from a tech perspective. When insurance is going to be submitted electronically, the Financial Group determines what blocks on the electronic form are filled out. Let’s take Blue Cross and Aetna for this example (again, see above picture). If BCS (for Blue Cross) is in the financial group box inside e-MDs, but Aetna Healthcare is the primary insurance in the insurance set at the bottom we have a conflict and the claim will not go through without specific adjustments being made. A manual correction will need to be made at some level (e-mds scrubber, clearinghouse, etc.) to get this claim paid. If the financial group and insurance matched, assuming that the patient was eligible and no pre-authorization was required, we would be in great shape!
So to recap, the 5 things every front desk person should be doing to maximize revenue are:
- When Making an Appointment, Inform the Patient of the Current Balance
- Check Eligibility Before Visit; Then USE It!
- Collect CoPay BEFORE Seeing Provider
- Make a Copy of the Insurance Card
- Change Financial Group When Changing Patient Insurance Info
If your practice is doing these on a consistent basis, you’ll see an improvement in cash flow and higher profit margins. We wish you all the best!! 🙂
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