Billing Resources for Behavioral Health - Page 3 of 8

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Simplifying The Process of Collecting Payments at the Time of Service for Behavioral Health Practices

Prompt revenue collection is a key strategy to keeping your behavioral health practice financially viable. Good billing practices for insurance are obviously crucial, but we sometimes neglect to put the same emphasis on collecting from clients. Patient payment has a…

Andrew SchatzbergSeptember 1, 2023

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Things to Consider When Opening Your Own Private Practice

Welcome to your journey of opening your own private practice in mental health! Several early keys to success are defining your practice’s vision and niche, navigating laws and regulations, budgeting and creating a business plan. Subsequently, you'll need to decide…

Andrew SchatzbergAugust 5, 2023

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The Top 5 Reports You Should Be Using In Your Behavioral Health Practice

Top 5 Reports You Should Be Using In Your Behavioral Health Practice There are five business reports every behavioral health practice should monitor monthly. Your electronic health record (EHR) software, accounting, and related practice management tools should provide the data…

Andrew SchatzbergJune 21, 2023

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Why Your Practice Should Accept Insurance for Therapy Along With Private Pay

As a mental health provider, the idea of accepting insurance for therapy can feel daunting. Accepting insurance in private practice involves a lengthy credentialing process and requires you to cede some control over your pricing structure and the speed at…

Andrew SchatzbergMay 12, 2023

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What Is an Insurance Panel? The Pros and Cons and How To Get on Them

In this article, we will dive into insurance panels for private practices, which can be a great way to find a reliable stream of behavioral health patients. What Is an Insurance Panel? Joining an insurance panel means signing a contract…

Andrew SchatzbergMay 3, 2023

What Is a Clearinghouse and How Can It Help Your Behavioral Health Practice?

A medical billing clearinghouse is an intermediary that helps streamline communications between healthcare providers and healthcare payors. This includes checking billing claims for errors and enabling interoperability of various software systems. Behavioral health practices can cut down on errors, lost…

Andrew SchatzbergApril 15, 2023

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Superbills 101: What Is a Superbill? What Info Needs to Be On It?

Providing “superbills” to your patients may be an excellent way to get more business and help your patients fully take advantage of the insurance benefits available to them. A superbill is a special type of invoice, also sometimes referred to…

Andrew SchatzbergMarch 18, 2023

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Value-Based Care vs. Fee-for-Service: Understanding the Key Differences in Healthcare Models

Value-Based Care vs. Fee-for-Service In this article, we will explore behavioral healthcare definitions and compare and contrast value-based care (VBC) vs. fee-for-service models. While the fee-for-service model is more traditional, the newer value-based care model has been gaining popularity in…

Andrew SchatzbergMarch 1, 2023

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Integrated vs. Non-Integrated Credit Card Processing for Your EHR

Does your behavioral health practice need credit card processing built right into the EHR, or will a third-party service do? Practice size, long-term goals, and budget will all factor into the decision, but here’s a basic overview of the differences…

Andrew SchatzbergFebruary 10, 2023

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What Is a Billing ERA? How Do You Use Them?

However your practice handles billing, it's critical to understand the role ERAs play in your revenue cycle. Electronic remittance advice (ERA) explains how a health insurance company or health plan has paid and/or adjusted claims from a medical provider. Often,…

Andrew SchatzbergFebruary 9, 2023

Billing for Behavioral Health