Month: May 2020

Cutting Patients a Break Your Financial Hardship Policy

As premiums and deductibles rise and coverage shrinks, more and more patients have difficulty paying for their health care. You can provide financial relief to your patients if you wish, but you should only do so in accordance with a uniform hardship policy.

As a general rule, the practice should not routinely waive co-pays or deductibles, or offer discounts based on a patient’s statement that the patient is suffering from financial hardship. If the practice does routinely offer discounts or waivers of deductibles without properly investigating a patient’s financial wherewithal, the practice runs the risk of violating its payor contracts, being accused of committing insurance fraud, and/or paying an illegal kickback to induce patients to come to the practice. Some payor contracts require the practice to bill the payor the lowest rate that the practice bills any of its patients, a so-called -most favored nation provision.- Typical Medicare participation agreements are subject to this type of provision. If the practice waives deductibles or co-pays, then insurers often take the position that the amount being billed by the practice to the insurer ought to be reduced by the amount waived. In addition, a regulator could conceivably accuse the practice of waiving co-pays and deductibles as a means of inducing patients to seek treatment from the practice in violation of anti-kickback laws.

The practice should offer discounts, waive co-pays and/or deductibles only after it has conducted a diligent inquiry into the patient’s finances, and made its own determination as to whether the patient is suffering a financial hardship. The practice should make this inquiry periodically with respect to repeat patients to assure itself that the patient’s financial situation has not changed. We suggest the practice develop an application for financial hardship that collects documents and information regarding a patient’s household income, assets and liabilities. The practice should then review this data in relation to Federal or state poverty income guidelines and determine, in a uniform manner, whether a discount is appropriate.

The practice should maintain all records and information it gathers to determine financial hardship, and should maintain records of the amounts waived.

Regardless of hardship, the practice can offer a discount to those patients who pay at the time of service or very shortly thereafter. These -prompt pay- discounts should only be offered on a uniform basis, to all patients and third-party payors. The amount of the discount should not exceed the expenses to the practice that are saved by a prompt payment; that is, the expense of ordinary billing and collection plus the amount of undiscounted fees that customarily have been uncollectible by the practice.

In order to assure smooth operations and compliance with relevant laws and contractual provisions, we suggest utilizing a written policy, developed with advice from a bona fide billing consultant and/or health care attorney, including underwriting guidelines to determine a patient’s eligibility for discounts and waivers.

COLLEGE LOAN FORGIVENESS Careers that offers partial or total loan forgiveness

Considering that most college students will end up with a large debt after graduating from college, it would benefit you to look into careers that offer college loan forgiveness. These forgiveness programs are usually associated with public services but not always. Your debt is forgiven over a period of time with a percentage deducted from your balance each year.

There are 7 careers that offer some debt reduction to total forgiveness of all of your debt. College education has become so expensive that most college graduates are moving back home with their parents because they can’t afford to live on their own. The total debt for student loans at this time is between $902 billion to a trillion dollars.

This is only going to get worse if something is not done to put a cap on the cost of education. The money that these students are borrowing is taking anywhere from 10 years to 20 years to be repaid. These 7 careers that offer partial forgiveness to full loan forgiveness are worth your time to investigate the possibility of pursuing one of these majors in order for you to save thousands of dollars.

If you would like to save thousands of dollars by having your college loans partially or totally forgiven, then it would benefit you to research these opportunities.

Most of you applying to college and attending college are not thinking of your long-range goal, which is to be financially independent from your parents. If you burden yourself with $20,000 to $50,000 worth of college loans, you will have no choice but to return home after college to live with your parents because of your personal debt. With the current economy, I strongly advise you not to saddle yourself with a huge debt but if you do, at least consider a major in the career field that offers college loan forgiveness.

If you are interested in getting more information on careers that offers college loan forgiveness, click on the link below that may be able to save you thousands of dollars. www.collegeadmissionsandfinancialaid.com copy and paste if the link is not alive

Leonel R. DaRosa, M.Ed. Guidance Counselor

Excessive Credit Card Debt

Most people advocate the case of credit cards, quoting the benefits and convenience that arises from them. However, there is another group/line-of-thought that strongly opposes credit cards. The reason being Excessive Credit Card Debt’, which is one of the most serious problems faced by the credit card holders and credit card industry. However, you can’t pull the shutters on the credit card industry just because of a few irresponsible people (or even if it’s more than few). That is not a solution for beating excessive credit card debt. Moreover, you can’t overlook the benefits associated with the credit cards.

The issue of excessive credit card debt can be looked at from 2 angles. First is addressing of the excessive credit card debt problem at the industry level and second is the addressing of the excessive credit card debt problem at the individual’s level i.e. at the credit card holder level. The first method involves increasing awareness of the excessive credit card debt problem to the masses. This is more or less being done currently too. However, there should also be an effort to tackle this problem of excessive credit card debt at an even deeper level. This means trying to devise a mechanism to nip the problem (of excessive credit card debt) in the bud. This mechanism should actually be a part of the overall system. A lot of thought needs to go into devising such a mechanism. Case studies should be taken up, statistics gathered and a proper forum formed (with representatives from the credit card holders and from the credit card suppliers). As of now, the credit card suppliers just seem to be engaged in coming out with new products and getting customers enrolled to those products. There is little attention paid towards addressing the problem of excessive credit card debt in the real sense. Something like attending mandatory seminars on the root causes of excessive credit card debt could be made part of the credit card application process.

Another way of dealing with the problem of excessive credit card debt could be: developing a system for calculation of applicable credit card limit at the individual level i.e. no standard/product-based credit limits. Then there could be mechanisms for proactively warning the users about excessive credit card debt (based on their credit card usage) or even imposition of early restrictions on noticing the first signs that lead to excessive credit card debt.

At the individual’s level, the treatment of the problem of excessive credit card debt would include following of best practices (on credit card usage and avoidance of excessive credit card debt) by the individuals themselves. A checklist or a set of questions could be provided to individuals for recognising the first signs of excessive credit card debt.

So, the problem of excessive credit card debt can surely be dealt with by putting together some serious thinking at a broader level together with discipline at the individual’s level.

American Banking Company Investment Process

With the world markets, and especially the American ones, becoming more global than ever, the options for investing your capital have increased significantly. Anybody can choose to invest wherever they want no matter if they own an American company or a Swedish one – you can choose to invest your money in investment options from another continent due to modern communication opportunities. This article will let you know more aspects on the subject of American banking company investment because you see, understanding the general process of company investment banking will make you understand exactly how things are in the United States on this matter. For example, for anyone that is interested in company investment banking, commercial banks will play a very important role as investment solutions as they offer their clients not only saving accounts but also solutions of investment banking. While you may think that investment banking would mean investing in any commercial bank saving scheme, it represents the opportunity commercial banks offer their clients to invest in the banks resources. If you have a company which desires to use its capital for investment banking, the commercial bank can also offer financial and business opportunities advice.

There are two main ways in which an institution can gather funds to develop its businesses: sell parts of its stock on the stock market to increase its capital or it can search for capital in other places, such as interested investors who want to be become stakeholders in the company. In either of these ways, the banking institution can offer the company financial advice. A company that deals with financial banking can analyze the risks that could affect the company searching for new capital and offer advice on when the company should make the public offering together with the best method of investing these funds and assets. An investment banking company can give advice in the case of mergers and splits and in any other financial detail the company may require. You can assimilate an investment banking business with a private broker based on their role. Banks have been offering credits and have gathered funds in saving accounts for many years but they have been looking for new services and business opportunities. Commercial banks have begun to offer investment banking services to companies and they have diversified their financial services portfolio.

Banks have widened their operations with offices on several continents and in hundreds of countries all over the world. They have faced competition from other financial services companies with the advantage that they can also offer financial services alongside their traditional banking services. Brokers have the purpose of being the direct link between the client and the investor and the investment banking institution. They keep all the investor’s financial records and they are able to offer their customers the best possible financial advice. They deal with the buying and the selling of stock and other similar transactions and follow the stock markets closely to ensure they informed decisions at the right time. Investment banking institutions offer their partners several financial services. They offer corporate finance advice as they help companies gather funds for future development. It can help a company raise its stock value significantly and it can act on behalf of its client on the major stock markets. An investment banking institution can be an advisor when two companies decide to merge or a larger company decides to split in order to reorganize its operations and they offer their services in all countries where the bank has opened offices. The whole idea with this American banking company investment is nothing more than general investment banking for your company, but when it just means that, somewhere within that equation you have to understand American facts regarding this subject.

Accept Credit Cards Online Without Opening A Merchant Account

Merchant account has been a necessity for the retailers in order to accept credit cards from their customers online on their websites. Usually you must go to your bank, they evaluate your risks and only then after thorough checks you are allowed to open a merchant account. Opening a merchant account takes a lot of time lots of paperwork is needed, your credit score should be checked, your websites are checked thoroughly. The acquiring bank can easily decline your application if your product seems a bit risky to them. Such things happen especially when you try to sell your digital products online ebooks or software. So it can be a quite hard to start processing credit cards online. But today, it is not the only option for the business which is just on the start up move. There are a number of services which does not require merchant account for accepting credit cards. All you have to do is just to signup on one of these companies, add your product details to the system and place payment buttons on your website. They will resell your product your customers will be able to buy your product with credit cards or Paypal payments and you will get your earnings paid out directly to your bank account or Paypal.

In order to accept credit cards online without a merchant account you have to:

1.Search for the existing credit card processors online that would process payments for you. You have to find whether you need a processor to accept cards both in online and offline mode. Then you need to locate whether the processor allows your special product type to be accepted.

2.Then you must initiate an investigation for the third party payment processors which are available. Some of third party payment processors have comparatively higher transactions fees than others, but on the other hand they provide very responsive services and makes immediate bank account transfers. So make sure you get all information beforehand processing rates, refund and chargeback fees, a list of accepted product types.

3.When you find a right company, just signup on it and provide some personal details. All of them require your personal details, bank account information, contact details and an email address.

4.In some cases you will also need to provide the social security number for applying through the third party processors, depending on the sales turnover and account needs.

5.The next important stage is incorporating the service into the website. This requires a bit of web development consultations to create some attractive payment buttons for the customers to complete their purchase. Usually once your account is approved, you have to submit products that you are planning to sell for an approval. The processor usually checks your website and products sales pages whether you provide enough information about the product, they compare if your website complies to all regulatory rules and then approves your product. Once you get your product approved, you are provided a simple html code to place on your website to direct visitors to your products checkout page to order the product. All you have to do is just to place those payment buttons on your website and you will be ready to go.

Once you have everything set up, all you have to do is just to start advertising your website online to get visitors Potential customers will read your website and find all payment buttons you provide. They will be redirected to your products checkout pages and be able to buy using their credit cards or Paypal account.

This way you dont need to open a separate merchant account to sell products online. One more good thing for using 3rd party payment processors is that you dont have to deal with possible credit card fraud. Such companies will check all your transactions for you, so you can be sure that you will sell your products successfully without any potential risks to your account getting closed.