What is Explanation of Remittance (EOR) in Medical Billing?
In the world of medical billing, acronyms are everywhere. You’re probably familiar with EOBs (Explanation of Benefits), but what about EORs? If you’ve come across the term “EOR,” you’re on your way to understanding a crucial part of the revenue cycle. While EOR is often used alongside the more common ERA (Electronic Remittance Advice), both […]
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Ultimate Guide to Verification of Benefits (VOB) in Medical Billing
It can be hard to figure out how to deal with medical bills, especially when it comes to figuring out how to verify insurance. Verification of Benefits (VOB) is an important part of this process. We’ll talk about what VOB is, why it’s important, and how it fits into the bigger picture of medical billing […]
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Why Your Practice Needs MD Billing and Consulting
Efficient md billing and consulting are critical for keeping medical practices financially secure and operationally streamlined. As regulations become more complex, managing claim submission, coding, and revenue cycle management can challenge even the most capable teams. Outsourcing to a professional medical billing company, like Thrive Medical Billing, gives your practice a competitive edge by refining […]
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What is POS 32 in Medical Billing?
In the intricate world of medical billing, accuracy is non-negotiable. Every detail, from diagnosis codes to procedure codes, plays a pivotal role in ensuring healthcare providers are reimbursed correctly for their services. One such critical detail is the Place of Service (POS) code. POS codes are two-digit numeric codes that indicate where a healthcare service […]
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What is POS 81 in Medical Billing?
In the complex world of medical billing, accuracy is everything. Place of Service (POS) codes play a critical role in ensuring claims are processed correctly, directly impacting reimbursement and compliance. Among these, POS 81 stands out for independent laboratories, as it specifies where diagnostic and clinical tests are performed. This guide explores POS 81 in […]
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What is MSP Code in Medical Billing?
Medical billing is an important part of healthcare. It uses codes and rules to make sure providers get paid for medical services. One area that can be confusing is the Medicare Secondary Payer (MSP) code. These codes tell us when Medicare is not the first insurance to pay a patient’s bill. In this simple guide, […]
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What is an Entity Code in Medical Billing?
If you’re new to medical billing or healthcare administration, understanding all the unique terms and codes can feel challenging at first. One key concept that will help you navigate the healthcare industry is the Entity Code. But what is an Entity Code in medical billing, and why is it so vital throughout the claims process? […]
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Understanding the Difference Between Reversal and Recoupment in Medical Billing
Navigating the medical billing process is essential for every medical practice. With accuracy at stake and financial health on the line, understanding the difference between reversal and recoupment in medical billing is critical. Both adjustments address claim errors, but each has unique triggers, impacts, and prevention strategies that directly influence revenue cycle management and future […]
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What is POS 21 in Medical Billing?
In the complex landscape of medical billing, precision is critical. A single error in coding can result in claim denials, delayed payments, or even accusations of fraud. Among the essential codes used in this process are Place of Service (POS) codes, which indicate where healthcare services are rendered. One of the most significant codes is […]
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What is TPI Number in Medical Billing?
The TPI, or Texas Provider Identifier, was a unique 9-digit number assigned to healthcare providers participating in Texas state health programs, including Texas Medicaid. It played a critical role in medical billing by identifying providers during claims processing, ensuring accuracy and efficiency. However, as of September 1, 2021, the Texas Medicaid and Healthcare Partnership (TMHP) […]
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