Ways To Prevent Medical Billing Fraud

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Have you ever been a victim of medical billing fraud? Medical billing fraud, especially those related to insurance billing are far more common in practices than you would think. There are cases of willful fraud committed as well as those that are committed without even knowing it. In either case, the onus of the fraud and its legal consequences rests on the practice. How can you prevent these from taking place at your practice? Well, here are certain things you can do…

Same Procedure – Same Charge

This is one of the most common mistakes – charging different amounts for the same procedure based on insurance allowed. In order to avoid having to post insurance write-offs on a patient’s account, healthcare facilities often charge different patients dissimilar amounts for a similar procedure or treatment. Make sure that this practice is avoided at your facility. If you wish to offer a discount to a patient due to their financial hardship, do so by asking the patient to complete a financial hardship form. Remember, every patient needs to be treated the same and must be charged the same amount for the same procedure.

Patient Co-payments

Your heart wants to reduce the amount due from a

Exploring Dozens of Types of Commercial Transportation Insurance

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In the world of commercial transportation insurance, there’s a nearly unlimited range of specific types of coverage. It’s easy to see why as well, because each form of insurance relates to a very specific type of vehicle, industry or application.

Each of those present different risks and challenges, and therefore, need to have a different form of coverage. It’s crucial to obtain the correct type of transportation insurance so that you’re covered when you need it most. You also don’t want to overpay for a more generic or blanket form of coverage which doesn’t apply to you, and offers you forms of protection you don’t need to begin with.

To get an idea of how vast the world of commercial transportation insurance is, let’s take a look at just the different types of trailers which may each have different policies in place. The list includes: bulk commodity, concession, dry freight, dump body or transfer box trailers, flatbeds, goosenecks, horse trailers, livestock, log haulers, low-boy, pole, refrigerated, tank, tilt, travel and utility. Again, that’s just the trailers!

Now let’s take a look at more types of vehicles which while not tractor trailers, still fall into the realm of commercial transportation insurance. Here, the

Five Tips for Choosing the Right Health Insurance Plan

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One of the best ways of safeguarding your personal well-being is by having a health insurance plan. Due to the large number of companies that offer this type of insurance policy, choosing the right one can be a daunting task. Here are five tips to help you find the best plan on the market today.

Check the Networks of Different Plans

If you have a select group of doctors whom you prefer, ask them which insurance networks they are part of. You can also use one of the many accredited online directories to know the networks that each plan on your list has. On the other hand, if you just relocated to a new city and you do not have a preferred doctor yet, choose a plan that has a large network of health practitioners.

Know the Maximum Premium Budget

Consider your average monthly expenses to know the amount of money that you can spend on the policy without compromising your financial capability. Low premiums often result in high out-of-pocket costs. Hence, what appears to be the cheapest plan may really be the most expensive, as you will be forced to pay for most of the services. One of the best ways of

Critical Illness Coverage: One of Health Insurance’s Best Kept Secrets

Before I jump into explaining what critical illness insurance is, and why I personally believe it’s a good investment, let me first confess that before I began working for a health insurance brokerage, I had NO idea what critical illness insurance was.

When I first started my job with the health insurance brokerage, I would hear agents talking to customers about plans that offered tens of thousands of dollars in coverage, should they wind up with something like a heart attack or a stroke. I was baffled and many-a-time wondered, “Does my health insurance do that, too?”

The answer was no, because the insurance they were explaining was a critical illness plan, which is frequently bought along with a major medical or short-term health plan. All I had was one plan, a major medical plan. So no, I did not have it, but I’ll tell you why I think it’s a great thing to have in a minute.

How Does This Plan Work?

First, what does critical illness insurance do? In the event of a major illness, like a heart attack, stroke, or cancer, the plan will pay out a lump sum of cash for that covered illness. The money could go to

Is Contract Hire Gap Insurance a Gimmick or A Real Must Have for Any Owner?

Traditionally buying a new business or personal vehicle is expensive. Contract hire and lease packages had made affording a new vehicle easier than ever. The no-nonsense simplicity of the package as well as the sheer flexibility means that it is quickly becoming one of the nations favorite ways of funding a vehicle purchase.

This attraction is now not only limited to the business world, instead growing numbers of the public all keen to take advantage of the low commitment and low initial outlay that the package offers.

So is contract hire gap insurance honestly worth buying? Will it actually work and do you really need it?

The Financial Conduct Authority are keen to promote a transparent finance and insurance market. A financial market in which the public can have confidence in, safe in the knowledge that financial services will do as they expect during the life time of their policy and offer real benefits.

So will contract hire gap insurance be able to stand the test of time and live up to the expectations of the market?

Many contract hire owners are now blissfully unaware that if their vehicle was written off or declared a total loss that they could be left not only

Importance Of Health Insurance Portability

Choice is always good. In a globalized world, the consumer has a plethora of choices in everything, from airlines to automobiles. This is why nowadays even airlines make an announcement after the passengers land: “We know you have a choice. Thanks for flying with us!”

It’s rather simple. You have a choice – if you don’t like the product or service, switch! The same goes for health insurance policies as well. In India, people have woken up to the promise of health insurance, which has led to a proliferation of health insurance providers across the board. Because of this wide variety available, the policyholder doesn’t need to stick to an insurance provider if they feel dissatisfied with the services.

The Insurance Regulatory and Development Authority of India (IRDA) has a novel scheme for disgruntled policyholders to switch providers: health insurance portability. Now, what do we mean by this? Let’s elaborate.

What is health insurance portability?

Health insurance portability is the manner through which a health insurance policyholder can transfer his/her existing policies from the current provider to a new one. Portability offers a way for customers to opt for better service and product. That way, an insurance provider cannot take them for granted.

Reasons

Underwriting Auto Policies

It is the most affordable type of auto insurance, yet it complies with state’s regulations. All optional coverage for example Rental Reimbursement and Roadside Assistance are not in the policy to reduce the premium without losing the necessary protections.

Standard and Non-Standard Insurance Market

There are two different types of insurance markets including standard and non-standard markets. The former is the typical auto insurance for drivers with little to zero traffic tickets in the driving records. Insurance companies regard consumers of this market as low-risk drivers. Non-standard is for drivers who have major traffic violations histories such as speeding or DUI. For these drivers, acquiring auto insurance from the standard market can be difficult due to strict approval requirements by providers.

Standard market insurers are reluctant to provide policies because of the following reasons:

· High-risk drivers have tendencies to commit the same traffic violations

· There is a chance that the insurer must pay a considerable amount of compensation for repeated violation

· Some drivers get their high-risk status because of policy cancellation from the previous company as a result of frequent late payment

Non-standard market insurance consumers or high-risk drivers must pay a higher price for the policies, but the system allows them to

Traffic Tickets Affect Insurance Rates

To keep the premium rates affordable, you must focus on safe driving

Insurance companies want to provide coverage because they basically think you are worth protecting. For them, there are generally two types of customers: safe-driver (which is the preferred class) and high-risk driver. Each type receives different treatments as the former has the bigger advantages such as discounts and generally cheaper rates. On the other hand, providing coverage for high-risk drivers is quite risky; insurers think that those drivers have tendencies to get involved in accidents. Based on this assumption, high-risk drivers will have to pay more without discounts and other good benefits. You are categorized as either safe or high risk type based on DMV’s data concerning driving records. Traffic offenses such as speeding, reckless driving, or driving while intoxicated are some of most important violations which will adversely affect your premium. Not wearing seat-belt is probably a minor one, which can be dismissed from the record after paying fines, will probably never affect anything. You can actually figure out whether you are in the “safe-driver” or “high-risk” category by using car insurance estimator; this tool provides a simple way to use some of your personal data to

Understanding Policy Clauses In Health Insurance

The clauses that are related to limitations and exclusions may seem complicated at first but it is crucial to understand these before signing up. There could be some exclusions and limitations that may not affect you or your family at all while some may be important depending on your health history and hereditary family history. So while what is excluded for one person may not make a difference, it might make a huge impact for another. That is why it is important to understand what these are and how they impact and relate to you as an individual and to your family in general.

Exclusions are those conditions or expenses that are not covered by the insurance company. In such cases, the claimant will have to share a pre-specified portion of the expenses in the claim if it should ever arise. Some insurance companies will also impose a sub limit that is within the sum insured overall. Exclusions are those expenses that the insurance company need not pay for. The IRDA has standardized this with a list of expenses. There are also different waiting periods for different conditions.

One of the common exclusions for health insurance are pre-existing diseases. This is

Theory of Selecting Car Insurance

Selecting the right car insurance requires the similar effort as selecting the car itself. While selecting a car the market research starts months prior and one test drives almost all the cars falling in one’s budget range. But the enthusiasm drops significantly when buying insurance for that priced possession. Many people in India still consider car insurance as a statutory obligation and settle for any run in the mill insurance policy or go for popular insurance company names rather than understanding what all things their policy covers.

The process to compare cars plans is very significant from saving upon premium as well as getting better plan features perspectives. In case of car insurance it is said that one must compare plans of at least three insurance companies. The more the merrier philosophy holds true in this case. Inviting quotes from a big number of companies always works in favor of the buyer as it helps plucking out the cheapest plan in the market.

A comprehensive car insurance policy covers the owner’s damages as well as the damages of the third parties who suffer loss due to collision. If your car is new then never commit the mistake of getting only third