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Understanding Medical Factoring: How It Works and Who Qualifies

Lendio

Waiting for insurance companies to pay can cause significant delays in receiving payments for services provided. Simply put, medical factoring is a financial transaction where a medical practice sells its invoices or accounts receivable to a third party at a discounted rate. But what exactly is medical factoring?

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Understanding the Healthcare Claim Life Cycle: From Patient Registration to Payment

SSI Healthcare Rev Cycle Solutions

A healthcare claim refers to a formal request submitted by a healthcare provider, such as a hospital or a doctor’s office, to an insurance company or a third-party payer seeking reimbursement for medical services rendered to a patient. What is a Healthcare Claim? There are industry mandated forms and formats for the claims data.

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Understanding the Healthcare Claim Life Cycle: From Patient Registration to Payment

SSI Healthcare Rev Cycle Solutions

A healthcare claim refers to a formal request submitted by a healthcare provider, such as a hospital or a doctor’s office, to an insurance company or a third-party payer seeking reimbursement for medical services rendered to a patient. What is a Healthcare Claim? There are industry mandated forms and formats for the claims data.

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How Long to Keep Business Tax Records

Fundera

The IRS requires you to keep records that support the income you received and the deductions that you take. So if you claim a deduction for a training course or a client lunch, the IRS wants you to keep the details of that—they may come asking about it later. . or bad debt deduction. Worthless Securities or Bad Debt Deduction.

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Stay Protected by Avoiding These 4 Mistakes When Choosing Professional Liability Insurance

Fundera

Choosing the right professional liability insurance policy is critical. Not only are you making a significant financial investment by entering into an agreement with an insurance company, but you are also getting a policy designed to protect you against financial or personal ruin. Cost is important.

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25 Financial Products That Will Save You Thousands

Due

With a checking account, you can make as many transactions as possible within a statement cycle. Contributions to 401(k) plans can be deducted from employees’ paychecks and are tax-deductible. Contributions to traditional IRAs are tax-deductible, but Roth IRAs aren’t. CDs and CD ladders. SIMPLE IRA.

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What is Revenue Cycle in Healthcare: Understanding Rev Cycle Management

SSI Healthcare Rev Cycle Solutions

Rev cycle management ensures that for every vaccine given, every X-ray taken, and every surgery performed, there’s a financial transaction that compensates the provider. Claims Processors : These are the people at the insurance company who review the claim to ensure everything’s covered under the patient’s insurance plan.