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The OTC process encompasses a series of steps, starting from when a customer makes a purchase to when the business receives and clears cash for that purchase. It includes order management , credit management , order fulfillment , invoicing, accountsreceivable, payment collection, and data management.
The patient may receive an Explanation of Benefits (EOB) detailing the payment breakdown. Copayments are normally collected upfront at the time of service. This bill includes details about the services provided, the insurance payment received, and the patient’s portion of the cost.
The patient may receive an Explanation of Benefits (EOB) detailing the payment breakdown. Copayments are normally collected upfront at the time of service. This bill includes details about the services provided, the insurance payment received, and the patient’s portion of the cost.
Experience a 20% efficiency increase in revenuecollection with medical billing software. Enhanced RevenueCollection Through the automation of billing and payment procedures, medical practices can speed up the collection of payments, thus reducing the accountsreceivable backlog and improving the cash flow.
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