Frequently Asked Questions
These
will be updated as new questions are needed to be answered based on
feedback from web page viewers as well as information not found elsewhere
on our web site.
Why
outsource your billing?
Quality of service and speed at collecting your money from insurers
and patients. As changes occur in medical billing that effect provider
reimbursement, CPB employees are kept up to date on these changes
to maximize your revenue.
What
is "Days in Accounts Receivable"?
Your
Money! You want to be paid by insurers and patients as quickly as
possible. The industry standard to measure the speed of medical payments
is “ Days in Accounts Receivable.”
Simply,
it is how fast (or slow) in “days” it takes on average
for your money to be collected from insurance companies and patients.
Too many Days in AR results in lost revenue. For many medical specialties,
CPB averages less than 23 days—which is considered excellent
in the industry.
What
is your Days-in-Accounts Receivable? Not sure? Provide your monthly
charges for the last 3 months and each month-ending accounts receivable
and we’ll calculate it for you. You may be very disappointed!
How
do I send my patient data to CPB?
CPB utilizes state-of-the-art scanning technology and can accept billing
data on paper or electronically via FTP, email, efax, fax, USPS, UPS,
or FedEx. CPB is a paperless office.
What
does CPB do with all the paper it receives?
About half of our clients now send data electronically. However, any
paper documents sent to CPB are scanned into digital files for processing.
All paper is then either returned to the client or shredded.
How
does CPB handle data backup?
CPB has state-of-the-art hardware & software redundancy including
daily offsite data backup.
Does
CPB handle all the steps of the billing process for us?
Absolutely. After your staff collects and sends the required data,
CPB handles the rest. From billing insurance and patients, answering
patient questions, to final resolution of each account.
Will
CPB educate my staff to ensure I get paid properly?
Absolutely. CPB will work with you and your staff to ensure the necessary
documentation is collected and sent to CPB for billing.
It
seems like there are frequent changes in medical billing laws &
regulations, can you help us keep up?
Absolutely. CPB sends a monthly newsletter to clients highlighting
important billing changes. When necessary we will email, fax or call
with time-sensitive issues. We stay on top so you don’t have
to!
When
insurers deny valid claims, will CPB handle appeals?
Absolutely. CPB staff will automatically review and resubmit as needed.
If additional documentation is needed by an insurer, we will work
with your staff to obtain and send it.
What
is HIPAA?
"HIPAA"
is an acronym for the Health Insurance Portability & Accountability
Act of 1996. The Act includes a section, Title II, entitled Administrative
Simplification, requiring:
Is
Cape Professional Billing HIPAA Compliant?
Yes.
CPB excels at the highest levels of HIPAA Privacy, Security and Transaction
Compliancy and we consistently update our policies to be sure that
we are 100% compliant 100% of the time. It's important to your practice,
so it is important to our firm.
Does
CPB have a Compliance Plan?
CPB has a fully operational Compliance Plan. CPB has been involved
in compliance since 1998.
Does
CPB have a Disaster Plan?
Yes, covering a wide range of problems.
