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Talking with Patients about Out-of-Pocket Expenses in 2010

The new year is almost nigh and we can expect patient out of pocket costs to go sky high! While it seems that every new year brings higher patient deductibles and coinsurance and reduced benefits, I have definitely seen the trend escalating over the past few years. 2010 portends to be no exception to that […]

Out of Pockets and Deductibles

Please Explain Out of Pockets and Deductibles As in yesterday’s topic, many clinic staff members seem to think that these two terms mean one in the same thing.  The results can be less than desirable if the difference between out of pockets and deductibles is not clearly understood. In a nutshell: Out of Pocket (OOP) […]

Co-pays vs. Co-insurance

Please Explain Co-pays versus Co-insurance I am often asked by providers and their staff to explain what each of these terms actually means.  Some mistakenly believe that the two terms are interchangeable. I discovered that many times when a patient had for example, a 20% coinsurance, the staff would charge the patient $20 a visit […]

V.O.B. Tip of the Day—Medicare Secondary Plans

As mentioned yesterday, verification of benefits (V.O.B) is the 1st step in the billing process and it will affect your bottom line. Today’s tip/trend is related to Medicare beneficiaries and their secondary coverage.  Many practices incorrectly assume that if a patient has a secondary plan to Medicare, that the Medicare deductibles and coinsurance portions will […]