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Term convergent billing system refers to such a solution, that could maintain single customer account and produce a single bill for all services (for example, it could be public switched telephone network, cable TV and cable internet services for one customer) and also do it regardless a payment method (prepaid or postpaid).
Proper revenue cycle management ensures that billing errors are reduced so that reimbursements from the insurance companies are maximized. Revenue cycle management teams are responsible for maintaining compliance with coding regulations, such as the ICD-10 code update. Using the right coding for services rendered by a practice ensures that ...
Achieving a high clean claims rate is a key metric for measuring the efficiency of the billing cycle. Creation of the claim is where medical billing most directly overlaps with medical coding because billers take the ICD/CPT codes used by the medical coders and creates the claim. Step 6: Monitoring payor Adjudication [4]
For example, if you rent an excavator from 1 January to 15 April, on a calendar monthly arrears billing cycle, you would expect to receive an invoice at the end of January, another at the end of February, another at the end of March and a final Off-rent invoice would be generated at the point when the asset is returned.
For example, an SLA between a supplier (IT service provider) and the finance department of a large organization for the services such as finance system, payroll system, billing system, procurement/purchase system, etc. Service-based SLA: An agreement for all customers using the services being delivered by the service provider. For example:
Order to cash (OTC or O2C) normally refers to one of the top-level (context level) business processes for receiving and processing customer orders and revenue recognition. . Order to cash is an essential function in finance; the entire cycle of events happens after a customer places an order until the customer pays for the order; that is, the order is converted to c
The process usually begins when a supplier's invoice is received. Invoices can be sent via email, postal mail, fax, or EDI. Once an invoice arrives, the accounts payable clerk must ensure that the document is indeed an invoice. Then the clerk classifi
Rule-based rating is one simple example of the use of the more general control table technique. As the telecommunications market comes under increasing pressure from new technologies (for example WiMAX), the leading differentiating factors between competing operators is often the innovation in new product offerings, and time to market. This ...