When billing for outpatient medical services, choosing the correct Place of Service (POS) code can make or break your reimbursement. Among the most debated are POS 2 (Telehealth Provided Other than in Patient’s Home) and POS 10 (Telehealth Provided in Patient’s Home). These two codes may seem similar, but their implications for billing, reimbursement, and … Read more
The HCFA CMS-1500 form is a standardized claim form used by healthcare providers in the United States to bill Medicare and Medicaid programs, as well as many private insurance companies. The form, developed by the Centers for Medicare & Medicaid Services (CMS), is essential for ensuring that healthcare providers receive reimbursement for services rendered to … Read more
A copay is a fixed amount that a patient is required to pay for a specific medical service or prescription, at the time the service is provided. It is denoted as copay (PR-3) This amount is typically predetermined by the patient’s health insurance plan and does not change based on the total cost of the … Read more
Introduction: A deductible is the amount of money a patient has to pay out-of-pocket for covered healthcare services before their health insurance policy starts covering the costs it is also denoted as PR-1. It is a standard feature of most health insurance plans, and it resets annually. Once the deductible is met, the insurer will … Read more
Coinsurance is the percentage of a medical bill you pay after meeting your deductible. Unlike a copay PR-3, which is a set amount, coinsurance varies as a percentage (%) of the total cost of a service. It is also denoted as PR-2 Once you meet your deductible, coinsurance is what you owe, while the insurance … Read more
