When you’re trying to learn about the different types of medical billing modifiers and how they work, there are plenty of references out there to help you out. However, these reference materials will only serve to give you a brief outline of what’s available out there.
Modifiers are a type of billing method that is used by many health care agencies all over the country. These modifiers are used for both inpatient and outpatient billing. Modifiers do more than just change the format of medical bills – they also have a large impact on the budget of medical practices.
Modifiers can be categorized into two major groups: collectable and non-collectable. A non-collectable modifier is one that cannot be claimed by a patient. The most common non-collectable modifiers are those which are tax deductible.
In terms of collectible modifiers, such modifiers are ones that are not deductible by the patient. Some of the more common collectible modifiers are ones which cover standard indemnity insurance, HMOs, PPOs, and other commercial insurance policies. Some of the more commonly quoted collectible modifiers are co-payment modifiers, copay modifiers, or deductibles.
A co-payment modifier is one that allows a doctor to adjust the charges that the patient has to pay, so that it will be a little bit higher than the standard indemnity insurance would typically charge. For example, if the charges of a doctor’s office are too high, then the patient might have to pay a co-payment for each visit or a co-insurance. Some people may also go as far as making the payment by debit card, if the payment cannot be tracked down in cash.
A copay modifier is one that allows a patient to pay for their medical services by some means other than cash. Most copay modifiers have no deductibles. Some of the more common copay modifiers are: coinsurance modifiers, patient co-pays, and other financial means of payment.
Another type of medical billings modifiers that are often used is a deductible modifier. In this case, a deductible modifier is one that lets a patient claim a fixed amount of money upfront before they start receiving their services. This works by letting the patient only pays for their services when they’re actually receiving them.
The above are only a few examples of the many modifiers that are available. You should feel confident that there is something out there for you when you’re looking for medical billings modifiers examples.