"Re-occurring" or "Series" Account Billing
Anyone willing to share information on "Re-occurring" or "Series" Accounts?
How long does these accounts stay open? Are they discharged at the end of the month or allowed to remain open for longer period of time?
How often are the accounts billed? Daily or at the end of each month?
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We have a year maximum. Accounts are either discharged manually or discharged automatically after a period of no activity. And we bill monthly.
Our recurring accounts trigger a new recurring account as long as there is activity. They are billed after the 5th of the next month. Our accounts also stay open until there is no activity or are manually discharged.
I highly encourage NOT using series accounts when you do not have to. Specifically, there is no requirement (there was a very long time ago, like more than a decade or so) to use series accounts for oncology/chemo services, for example and yet we see hospitals still doing that which leads to Medicare not providing separate payment for many things due to its packaging logic which is applied at the claim level (not at the per day level as it was many moons ago). With commercial payers, you could also see issues with high dollar claim reviews and other. Bottom line: only bill monthly/series claims for the things that Mediare requires this for and nothing else. You should see your revenue rise! And there are ways to set things up so that there is not increased admin burden internally, but you will need to help patients understand why they will be getting more pieces of paper in the mail.