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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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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.

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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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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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Retirement Planning for Couples: Joint or Individual Approaches

Due

It’s important to note that some couples may not be able to deduct the full amount of their traditional IRA. If only one is covered by a retirement plan, the deduction is reduced if their modified AGI is more than $198,000; the deduction phases out at a modified AGI of $208,000. For families, health insurance is expensive.

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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.