Process Executive.Medical Billing in Payment Posting Interview Questions and Answers

Posting payment is the process of recording and reconciling payments received from patients or insurance companies.

• Payment information is entered into the billing system

• The payment is matched with the corresponding claim or invoice

• Any adjustments or write-offs are applied

• The balance is updated in the patient's account

• Examples include posting co-payments, deductibles, and insurance payments

Managed care plans are healthcare plans that aim to control costs and improve quality of care.

• Managed care plans negotiate with healthcare providers to offer services at lower costs.

• They often require patients to choose a primary care physician and get referrals for specialist care.

• Examples of managed care plans include HMOs, PPOs, and POS plans.

• These plans may also offer incentives for patients to use preventive care services.

• Managed care plans have been criticized for limit...read more

RCM stands for Revenue Cycle Management, which is the process of managing the financial aspects of healthcare services.

• RCM involves managing the entire patient journey from registration to payment.

• It includes tasks such as verifying insurance coverage, submitting claims, and collecting payments.

• Effective RCM can improve revenue, reduce denials, and increase patient satisfaction.

• Examples of RCM software include Epic, Cerner, and Allscripts.

Chargentry is the process of entering charges for medical services rendered by healthcare providers.

• Chargentry involves accurately recording the services provided by healthcare providers and the corresponding charges.

• It is an important step in the medical billing process as it ensures that healthcare providers are reimbursed for the services they provide.

• Chargentry may involve reviewing medical records, verifying insurance coverage, and ensuring that charges are in compliance...read more