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Benefit Year

A benefit year is the 12-month period for which a patient is subscribed to a plan, and during which the payer has agreed to pay for services according to the patient's plan.

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Assignment

Accepting assignment means that: you will accept as payment in full the allowed amount established by the payer (Medicare or any other payer you are contracted with) and the payment will be sent directly to the provider for services rendered. Providers may accept...

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EDI Transactions (ANSI X12)

270 ”” eligibility & benefit inquiry - Is the patient an insured of this payer? 271 ”” eligibility & benefit response (response to 270) - A yes or no response that the patient is insured 276 ”” claims status inquiry (follows 837 submission) 277 ”” claim status...

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Long Tail (Courtesy of hittail.com)

The long tail is an economic concept that says the collective demand for less-popular items (in green) can exceed the all the most popular added together (in red). Online music stores are a perfect example because they can carry large collections of music just as...

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The Manage My Practice Blog keeps our readers up to date with the latest healthcare news, trends and analysis.

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