The Financial Guide: Medicare

Posted by Shane Shepherd on Thu, Jan 09, 2020 @ 08:01 AM

Navigating the world of insurance and billing can be complex at best and profit crippling at worst. When it comes to Medicare billing, there are specific requirements and processes your practice has to follow and understand.

We enlisted the help and advice of Shane Shepherd to unravel the complicated parts of getting your insurance reimbursements. With 17 years of experience, there's almost no claim he can't get paid.

Keep reading to find out the difference between secondary and supplemental Medicare insurance.

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How to Read Your Revenue Cycle Management Reports

Posted by Jeff Rezabek on Tue, Dec 10, 2019 @ 14:12 PM

Without revenue cycle management reports, you don’t have the proper visibility to measure the performance of your billing manager and their claim management activities. To provide you with increased visibility into your practice, run revenue cycle management reports, part of VisionWeb’s outsourced billing service, delivers full transparency into how your practice is performing against state and national averages to help your optometric practice profit.

Below are a few tips on how you can better understand and read these important reports.

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Cheat Sheet to Being a Billing Expert

Posted by Madhu Singh on Thu, Sep 26, 2019 @ 08:09 AM

Throughout the tradeshows of 2019, it's become clear that all optometrists and office managers can find one thing in common: their frustration with billing.

We recently held "Ask Me Anything" sessions at Vision Expo West where our resident billing expert answered any and all money-related questions. We received questions about medical vs vision billing, how to scale profits with multiple payers, managing medicare, and more.

That's why we want to make sure you have access to our free Insurance Revenue Kit for ODs. Not only will it help you understand your billing issues, but it'll also show you how you can end your frustration.

 

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Mastering Money in Your Optometry Practice

Posted by Madhu Singh on Fri, Jul 26, 2019 @ 14:07 PM

Optometrists and all eyecare professionals aren't usually equipped with finance and money management skills during their training or education. However, like with any small business, it's essential that independent practice owners and office managers understand where their revenue is coming from, how they can improve their financial standing, and what areas of growth are available to their business.

We wanted to compile all our knowledge on claim management, billing, expenses, financial reports, and anything else you need to know about money in your practice into one, convenient guide. Click through to have your money questions answered.

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Playing Hide and Seek with Your Claim Denials

Posted by Madhu Singh on Thu, Jul 18, 2019 @ 11:07 AM

Many ODs may notice their claims aren’t being reimbursed, and in many cases they don’t have the bandwidth to investigate or they don't know where to start in order to figure out what went wrong. For someone who doesn’t handle the billing process on a daily basis, fixing denials can be a daunting task.

However, if you have defined your processes, it’s just a matter of reviewing each of them to find out where it has broken down. For practices who don’t have a system in place for managing claims, an in-house biller might be the most obvious solution.

We want to examine the processes at a typical office and review the biggest mistakes that could be made at the following stages:

  1. The OD Performs the Service
  2. The Front Staff Invoices the Patient for the Services
  3. A Biller Files the Claim
  4. The Clearinghouse Scrubs the Claim
  5. The Payer Accepts or Rejects the Claim
  6. The Payer Produces an EOB/ERA
  7. The Payment is Posted into Your PM System
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