Seeing Medicare Patients as a Cash-Based Practice The essence of a cash-based practice is collecting most, if not all, payments across the front counter vs. waiting for payment from a third-party payer. Many providers find themselves on the wrong side of the rules by creating various permutations of this concept, sometimes without even knowing they...
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Using a Financial System to Create Successful Reimbursement KMC University has spent years working with providers and testing different systems that would lead to successful reimbursement. A solid financial system should be flexible enough to benefit both a cash-based or third-party insurance based practice. We believe if you correctly charge, bill, and collect according to...
OOPS, this page contains content reserved for KMC University members. We’d love to welcome you to the KMC University family because there is an amazing amount of helpful content in the trainings and resources of the KMC University Library.
Click here to learn more.
KMC University has spent years working with providers and testing different systems that would lead to successful reimbursement. A solid financial system should be flexible enough to benefit both a cash-based or third-party insurance based practice. We believe if you correctly charge, bill, and collect according to your financial policy, you will be successful. To do all three, you must start with the basics and acknowledge every key component that leads to successful reimbursement.
This module will introduce you to the KMC University Financial System. The variety of modules in this course will be focused on the reimbursement aspect, while other topics related to business essentials and office management are presented in other courses.
You will notice that we have likened a Financial system to a piece of machinery made of different sized cogwheels. If one of the teeth (cogs) is missing, or even worse the entire wheel, the machine will lock up and not function. If you are spending long hours in your clinic and not seeing the benefits through reimbursement, we encourage you to look over this module to see what components you might be missing. If you are new to practice, please take advantage of the clean slate, and build a solid system from the ground up.
